This volume revisits Karl Polanyi's analysis of the institutional separation of politics and the economy in the context of the nineteenth century market society to argue that the market economy is not a spontaneous process, but a "political project" realized through institutional changes whereby labor, land, money, and currently knowledge appear as commodities. The contributions explore the political dynamics of this commodification process, its implications for human life and livelihood, and the possibilities for the advent of a more viable order where the economy would be replaced under social control. With its interdisciplinary reach, the book is of interest to academics and graduate students in different fields such as economic sociology, political economy and social policy.

This Companion provides a review of global value chains (GVCs) and the megatrends that are shaping them and will continue to reshape them in deep-set trajectories of change over the next few decades. Megatrends herald both challenges and opportunities. With the growing interest among business leaders and researchers in GVCs, this is a reference work which fills a gap in current literature by focusing on the new features of GVCs, including the shift of global purchasing power towards developing economies, the significance of emerging technologies and data analytics, the increasing tensions between globalisation and de-globalisation, and the role of micro-multinationals, start-up entrepreneurs, the public sector and middle markets in a fast-changing global economy. The early chapters are essentially intradisciplinary in character, with the first seeking to explore some historical aspects of GVCs. Subsequent chapters cover the theory and practice of operations and supply chain management, emerging supply chain technologies, and the impact of inter-firm collaboration across sectors and economies. The final chapters take a more interdisciplinary approach and examine topics at the interface of GVCs with the economy, society, culture and politics. This comprehensive handbook provides a timely analysis of leading-edge global megatrends and practices in one volume.

This book presents empirical evidence that supports and facilitates a practical, integrated approach to how bank regulatory and selected macro-prudential tools interact with monetary policy to achieve price and financial stability. The empirical results contained in various chapters accompany in-depth historical analysis and counterfactual scenarios that enable proper policy evaluation and the interaction of bank regulatory, macro-prudential and monetary policy tools in South Africa. The presented evidence also identifies financial asset boom and bust episodes and the associated costly output losses. In addition, the authors explore the amplification of credit dynamics by commodity prices and sector credit re-allocation due to capital inflows shocks. The book's empirical analysis uses a wide range of statistical and econometric approaches on granular data and economic variables to derive policy implications and recommendations. This in-depth quantitative analysis includes determining inverse transmission of global liquidity, as well as the effects of capital flows, lending-rate margins, financial regulatory uncertainty, the National Credit Act, bank capital-adequacy ratios, bank loan loss provisions, loan-to-value ratios and repayment-to-income ratios on the macro-economy.

Takes a fresh approach in that it considers the underlying reasons, and the consequences of urban change for real estate investors and policy makers, not another traditional urban economics textbook Includes chapter objectives, self-assessment questions, chapter summaries, learning outcomes, case studies, global data and statistics Most up to date UK Urban Economics textbook, it is not overly mathematical and strikes the ideal balance between theory and practical policy analysis for the real estate and planning market

This book presents the ways in which three key issues of the modern world - transformation, digitalisation and sustainability - may be combined for the greater good and highlights which activities may be designed to integrate these three directly linked paths. It is an experience-derived and evidence-based analysis of how sustainable development impacts the transformation of the economy and how the business environment influences economic transformation in the light of the sustainable development principles. The book addresses the current challenges and shows how the economy can be transformed further in an organic way that meets the needs of society and the environment, through the use of digital technologies. The multidisciplinary approach to sustainability transformation is one of the core strengths of the book, as it emphasises the need for a holistic approach to the functioning of sustainable development ideas at the micro- and macro-levels. The authors present a fresh perspective, particularly around the regulations stimulating the sustainable development of enterprises, tax systems, and the allocation of capital. Moreover, the book brings together and makes available the results of the latest research on the subject, using a vast amount of primary evidence and both quantitative and qualitative methodology. The authors' insights go beyond the obvious effects of economic transformation and call attention to ways in which smart technology and digitalisation may help to achieve the Sustainable Development Goals. The book is directed first and foremost towards academics, researchers and students, but also professionals, who would like to expand their knowledge of sustainable development from a scientific perspective. Chapter 1 of this book is available for free in PDF format as Open Access from the individual product page at www.routledge.com. It has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.

This book studies the interactions between monetary and fiscal poUcies in the euro area. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on competition between the European central bank, the American central bank, the German government, and the French government. As to policy cooperation, the focus is on the same institutions. These are higher-dimensional issues. The pohcy targets are price stability and full employment. The policy makers follow co- turkey or gradualist strategies. The policy decisions are taken sequentially or simultaneously. Monetary and fiscal policies have spillover effects. Special features of this book are numerical simulations of policy competition and numerical solutions to policy cooperation. The present book is part of a larger research project on European Monetary Union, see the references at the back of the book. Some parts of this project were presented at the World Congress of the International Economic Association. Other parts were presented at the International Conference on Macroeconomic Analysis, at the International Institute of Public Finance, at the Macro Study Group of the German Economic Association, at the Annual Meeting of the Austrian Economic Association, at the Gottingen Workshop on International Economics, at the Halle Workshop on Monetary Economics, at the Research Seminar on Macroeconomics in Freiburg, and at the Passau Workshop on International Economics.

Within the literature on industrial economics and innovation there have been surprisingly few attempts to build analytical frameworks that are based on the distinctive features and institutional characteristics of Europe, and especially of the European Union. This collection explains the organization and dynamics of innovative activities in Europe. Theoretical advances in the economics of technological innovation have been placed alongside empirical research relating to the interaction between the industrial structures of individual member nations and the linking regulations of the European Union. The team of distinguished international contributors includes Paul David and Nick Von Tunzelmann. The Organization of Economic Innovation in Europe is a significant addition to the literature on the economics of innovation and technology.

i) This book is one of the first book-length works to deal with the topic of China's economic development in the backdrop of COVID-19. ii) The chapter contributors keep a close watch on the relevant economic impacts during the entire process of the outbreak, spread, prevention and control of the pandemic. They have conducted timely investigations, analyses, and studies from their respective disciplines and put forward corresponding policy suggestions. iii) This title is edited by a prestigious economist in the Chinese academia.

As carbon dioxide is the most significant source of greenhouse gases today, its emission quantity has become a primary focus of governments, scholars and the general public. From the perspective of industrial structure, the book mainly explores the features of carbon emissions in China. The author thoroughly studies related theories and literature about industrial structure and climate change, and reviews the different development histories of developed countries and China. Based on historical data, this volume discusses the influence of interprovincial industrial structure and income level on carbon emissions, and tries to estimate different industrial sectors' carbon emissions. It especially studies the case of Zhejiang Province, and analyses several factors which affect CO2 emissions. The book provides international readers with rich information about the characteristics, patterns and drivers of China's CO2 emissions, which will definitely help scholars and students better understand China's economy.

Explores vital topics such as inequality, electoral politics, partisan ideology, and institutional performance to demonstrate the power of political economy to incorporate political and economic approaches to key global issues. Introduces the key theories and methods of political economy to provide students with the necessary 'toolkit' to undertake the study of political economy. Draws on empirical data from around the world, primarily OECD countries, to provide an international introduction to political economy. Incorporates 'focus' boxes, case studies, glossary, reviews questions and recommended readings to provide a complete learning pedagogical package for students.

1. This title uses the balance sheet approach and macro-financial linkage analysis to conduct a comprehensive analysis of the trends within China's macroeconomy in 2020. 2. This is one of the first works to examine macroeconomy of China under the backdrop of the COVID-19 pandemic. 3. This title is one of the latest works of Zhang Xiaojing, who is is the recipient of many prestigious awards such as Sun Yefang Financial Innovation Prize for 2015, and Sun Yefang Economics Prize for 2005 and 2007.

This volume honors the lifetime and continuing contributions of Professor Jacques Silber. The book contains 15 papers, which were presented at the Fourth Meeting of the Society for the Study of Economic Inequality, Catania, Sicily, July 2011. Theoretical topics covered in Volume 20 include measuring segregation, welfare and liberty, the use of influence functions in distributional analysis, and the axiomatic approach to multidimensional inequality. Empirical studies include occupational and residential segregation, regional convergence, impact of variable of equivalence scales on income inequality, earnings and educational inequality and mobility, poverty transitions, and welfare reform. These empirical studies examine a variety of countries and cultures: Afro-Latinos, Italian immigrants, and Indian states as well as the European Union and the United States.

Macroeconomics has always played host to contesting schools of thought, but recent events have exacerbated those differences. To fully understand the subject, students need to be aware of these controversies. Rethinking Macroeconomics: A History of Economic Thought Perspective introduces students to the key schools of thought, equipping them with the knowledge needed for a true understanding of today's economy. The text guides the reader through multiple approaches to macroeconomic analysis before presenting the data for several critical economic episodes, all in order to explore which analytical method provides the best explanation for each event. It covers key background information on topics such as the basics of supply and demand, macroeconomic data, international trade and the balance of payments, the creation of the money supply, and the global financial crisis. This anticipated second edition contains new chapters on Modern Monetary Theory, the Japanese economy, the European Union, and the COVID-19 crisis, bringing the story up to date and broadening the international coverage. Offering the context that is missing from existing introductory textbooks, this work encourages students to think critically about received economic wisdom. This is the ideal complement to any introductory macroeconomics textbook and is ideally suited for undergraduate students who have completed a principles of economics course. The book is fully supported with additional online resources, which include lecture slides and an instructor manual.

Macroeconomics has always played host to contesting schools of thought, but recent events have exacerbated those differences. To fully understand the subject, students need to be aware of these controversies. Rethinking Macroeconomics: A History of Economic Thought Perspective introduces students to the key schools of thought, equipping them with the knowledge needed for a true understanding of today's economy. The text guides the reader through multiple approaches to macroeconomic analysis before presenting the data for several critical economic episodes, all in order to explore which analytical method provides the best explanation for each event. It covers key background information on topics such as the basics of supply and demand, macroeconomic data, international trade and the balance of payments, the creation of the money supply, and the global financial crisis. This anticipated second edition contains new chapters on Modern Monetary Theory, the Japanese economy, the European Union, and the COVID-19 crisis, bringing the story up to date and broadening the international coverage. Offering the context that is missing from existing introductory textbooks, this work encourages students to think critically about received economic wisdom. This is the ideal complement to any introductory macroeconomics textbook and is ideally suited for undergraduate students who have completed a principles of economics course. The book is fully supported with additional online resources, which include lecture slides and an instructor manual.

Public Economics: A Concise Introduction provides a concise and non-technical overview of the role of government in the economy. Using the questions 'why?', 'what for?' and 'how?', the text initially surveys the place of the public sector in a market economy. It then considers the possible reasons which could justify government involvement. Next, the book examines the aims of state economic activity, and the instruments which a government has at its disposal. Lastly, the final chapter provides an illuminating tour of economic history and history of economic thought in relation to government economic activity. The book offers an international focus throughout, with examples taken from all over the globe. Readers are supported with a range of pedagogical features, including example boxes, chapter objectives and summaries, and end-of-chapter multiple choice and reflection questions. Public Economics: A Concise Introduction will be a valuable text for students on courses in public economics, welfare economics, public finance, public policy and related areas.

Public Economics: A Concise Introduction provides a concise and non-technical overview of the role of government in the economy. Using the questions 'why?', 'what for?' and 'how?', the text initially surveys the place of the public sector in a market economy. It then considers the possible reasons which could justify government involvement. Next, the book examines the aims of state economic activity, and the instruments which a government has at its disposal. Lastly, the final chapter provides an illuminating tour of economic history and history of economic thought in relation to government economic activity. The book offers an international focus throughout, with examples taken from all over the globe. Readers are supported with a range of pedagogical features, including example boxes, chapter objectives and summaries, and end-of-chapter multiple choice and reflection questions. Public Economics: A Concise Introduction will be a valuable text for students on courses in public economics, welfare economics, public finance, public policy and related areas.

Interchange fees have been the focal point for debate in the card industry, among competition authorities and policy makers, as well as in the economic literature on two-sided markets and on the regulation of market failures. This book offers insight into the economics of interchange fees. First, it explains the nature of two-sided markets/platforms/networks and elaborates on four-party schemes and on the rationale behind interchange fees according to Baxter's model and its later refinements. It also includes the debate about the optimum level of interchange fees and its determination ("tourist test"), and presents the original framework for assessing the impact of interchange fee regulatory reductions for the market participants: consumers, merchants, acquirers, issuers, and card organisations. The framework addresses three areas of concern in reference to the transmission channels of interchange fee reductions (pass-through) and the card scheme domain (triangle: payment organisation, issuer, acquirer). The book discusses the effects of regulatory interchange fee reductions in Australia, USA, Spain, and, most specifically, Poland. It will be of interest to policy makers, card and payments industry practitioners, academics, and students.

This book provides a fully revised and up-to-date analysis of the Economic and Monetary Union (EMU). With four entirely new chapters on responses to the financial crisis and the debate on reform options, Tomann assesses the EMU in comparison with other currency regimes through the adoption of a historical analysis. The book discusses in detail basic issues with currency and comprehensively analyzes monetary policy, highlighting problems of policy coordination. Tomann explores new monetary institutions that have been established in response to the financial crisis, before addressing long-term issues and reviewing reform proposals. By focusing on monetary issues the book offers a better understanding of macroeconomic policies and international policy cooperation, and, by extension, provides a thorough economic assessment of the EMU as an institution as it stands today.

This book gathers selected papers from the 28th Eurasia Business and Economics Society (EBES) Conference, held in Coventry, United Kingdom. While the theoretical and empirical papers presented cover diverse areas of economics and finance in various geographic regions, the main focus is on the latest research concerning the economics of innovation, finance and macroeconomics. The book also includes regional studies.

The main objective of this book is to identify the key sources of growth which have played a significant role in Africa's recent robust growth as well as its efforts towards economic transformation. The book assesses to what extent the existing macroeconomic frameworks among African countries have been streamlined to the countries' development priorities in order to achieve long-term growth and economic transformation. Taking into account the diversity of African countries, the authors establish the economic linkages between relevant macroeconomic policy variables and the key sources of growth and development among the selected African economies, based on both theoretical and empirical underpinnings. Following this, an outline of a macroeconomic framework for Africa's long-term growth and economic transformation is suggested.

This book connects political economy perspectives with scenario planning for mapping out future trajectories of digital ecosystems. The focus is purposefully on digital ecosystems as it encompasses economic, political and social contexts on a global, national and local level. The diversity of political economy approaches allows the author to explore alternative meanings of digital ecosystem development, which is particularly useful for envisioning alternative futures. Often visions about the future of digital ecosystems suffer from a lack of imagination and confirmation bias which is favorable to the extrapolation of current trends. A wide range of political economy perspectives applied through positivist theorizing in this book shows different interpretations of developments in digital ecosystems. Scenario planning teams around the world have applied a collective imagination to show how future trajectories can be radically different from the current trends. The book outlines meta-scenarios for alternative futures of the political economy of digital ecosystems by reviewing and synthesizing the work of foresight teams. These meta-scenarios served as insights for developing four scenarios for European digital ecosystems through the workshops with high-level executives and experts. The scenarios identified the nature of EU cooperation and the development of digital infrastructure as key drivers. These four scenarios developed in the workshops are further operationalized in a specific context by exploring the implications for Estonia as well as for Chinese investments in European platforms. This exercise shows how scenarios of digital ecosystems can be used for stress-testing decisions and strategies. Decision-makers, students, scholars and other stakeholders in a wide range of industries ranging from academia to ride-sharing can use the scenarios for reframing different development trajectories and future-proofing their strategies. The scenarios can be further developed and modified for specific purposes and contexts as they are not written in stone.

The development of Islamic banking and finance (IBF) previously centred around three regions of the world: the Middle East, Southeast Asia, and South Asia. However, in recent years, this has expanded, as interest in IBF has gained momentum in Australia, the USA, and Europe, especially in the UK. Several Western market players have established their own Islamic window or subsidiaries to cater to the need of growing Muslim populations in these regions. This book examines the recent developments in IBF, particularly in the context of Islamic social finance instruments, such as Islamic microfinance, halal education, takaful, mutual funds, and waqf. It covers the religiosity, spirituality, and tawhid index, which promotes social well-being and empowerment. The book is interdisciplinary, and theories, practice, and key issues are presented simultaneously, introducing new ideas and techniques to the IBF community. Moreover, the book examines topics such as innovation in Islamic social finance instruments, advanced techniques of risk mitigation in Islamic capital markets, marketing and the halal industry, and shari'ah-compliant instruments, which are critical to Islamic finance. The book is an essential reference text for academics and research students at the master's and doctorate levels in IBF.

This book explores structural changes in Greenland's economy and labour markets due to the transformative effects of climatic changes and growing international attention. It offers multidisciplinary perspectives from economists, sociologists, and political scientists to demonstrate how the Greenlandic economy works. Due to an increasing focus on the Arctic area and Greenland in particular, the book seeks to understand the functioning and dynamics of Greenland's labour economy, as well as the challenges that arise from the melting ice and internationalisation. It fills a substantive gap in the existing literature by compiling research on these critical subjects and exploring current and future opportunities for labourers. Today, Greenland is reliant on large financial subsidies from Denmark to provide for a large share of its national budget. This fuels Greenland's political ambition to gain greater independence from Denmark, which requires more private sector growth to develop a sustainable economy. This book thus contains an exhaustive introduction to important business development themes such as macroeconomics, markets, labour supply, labour market policies, and institutions and considers Greenland's colonial past, great Inuit heritage, and unique geography and nature to re-shape its economy and labour markets. Informed by a lucid writing style, each chapter casts light on different economic and social issues of Greenland. This is the first international book on Greenland's economy which discusses its geopolitical importance and prospects for the Arctic region. It will be a valuable point of reference for students and academics of economics, Arctic research and political economy.

Originally published in 1967, this book examines the major problems of trade and aid policy posed for the developed countries by the UN Conference on Trade and Development in 1964. Johnson surveys the political and economic setting of the Conference; international aspects of economic development; trade policy to promote development; possible new international arrangements for trade in primary products; and the possibilities offered by international monetary reform for benefitting less developed countries. The divergence between the well-being of developed and less-developed countries remains one the key problems of our time and this book is therefore as relevant now as when it was first published.

Rich and informative case studies throughout bring this book to life for professionals and students alike. Written by one of the leading competitive experts in the world. Tackles a complex issues in a lively and engaging way.