Political and economic independence has been a novel experience for the 51 million people of Ukraine since the collapse of the former Soviet Union. This most tightly controlled and regulated republic of the former USSR has had difficulty in making the transition to another form of government. The hurdles and uncommon difficulties which must be neutralized or mitigated before market forces can materialize and become viable are described and analyzed in each of the core chapters. The work concludes with practical lessons and recommendations for Ukraine, and, by extrapolation, for the other economies of Eastern Europe.

The Changing Industrial Map of Europe is a major study of the recent evolution of six key industries - information technology, pharmaceuticals, automobiles, retailing, transportation and insurance - and their response to the 'new Europe'. Taken together, the analyses of these industries shed much light on how technological, economic and political factors are working together to create a more integrated and more competitive industrial base in Europe.

This volume argues that a renewed commitment to sound macroeconomic policies and structural reforms is needed for countries in South East Europe, or 'the Balkans' achieve to sustainable prosperity, along with enhanced support from the international community. New fiscal and financial architecture has valuable lessons for policymakers in SEE.

Economic and Monetary Union (EMU) will have far-reaching consequences for participating nations. This book contains a unique and editorially neutral collection of key arguments favouring and opposing membership. The economic and policy implications are evaluated by distinguished economists, whilst the impact upon national sovereignty and the world of work is debated by prominent MPs and representatives of business and trade union organisations. The text provides an unbiased, comprehensive and 'readable' resource for specialist students and a general readership.

One aspect that overwhelmingly defines the second half of the 20th century is the remarkable economic growth of Asia. This book offers a comprehensive view of the various factors--scientific, technological, and economic--that enabled the region to make a brilliant comeback after centuries of oppression. The past is often a mirror into the future. By exploring these factors from a historical perspective, the book attempts to look into the future and predict what the twenty-first century and the new millennium will bring.

New Institutional Economics open a new methodological perspective in political economy by posing the question of why economic institutions are created. This state-of-the-art collection examines this question of Arrow's looking at how these man-made constraints condition political, economic and social integration both informally and formally. New developments in game theory are applied to many case topical studies including corruption, central bank independence, globalization and other issues in contemporary economic governance.

This book provides a new methodological approach to money and macroeconomics. Realizing that the abstract equilibrium models lacked descriptions of fundamental issues of a modern monetary economy, the focus of this book lies on the (stylized) balance sheets of the main actors. Money, after all, is born on the balance sheets of the central bank or commercial bank. While households and firms hold accounts at banks with deposits, banks hold an account at the central bank where deposits are called reserves. The book aims to explain how the two monetary circuits - central bank deposits and bank deposits - are intertwined. It is also shown how government spending injects money into the economy. Modern Monetary Theory and European Macroeconomics covers both the general case and then the Eurozone specifically. A very simple macroeconomic model follows which explains the major accounting identities of macroeconomics. Using this new methodology, the Eurozone crisis is examined from a fresh perspective. It turns out that not government debt but the stagnation of private sector debt was the major economic problem and that cuts in government spending worsened the economic situation. The concluding chapters discuss what a solution to the current problems of the Eurozone must look like, with scenarios that examine a future with and without a euro. This book provides a detailed balance sheet view of monetary and fiscal operations, with a focus on the Eurozone economy. Students, policy-makers and financial market actors will learn to assess the institutional processes that underpin a modern monetary economy, in times of boom and in times of bust.

How have America's largest cities managed to adapt to the economic and demographic changes of the late Twentieth Century? To shed light on the transition, this latest volume presents standout papers spanning the life of Research in Urban Economics. The work includes excerpts from a 1980 federal report and two current papers that update the coverage. These selections provide a sparkling cross-section of the scholarship on urban economics and policy over the past generation.

This unprecedented collection combines economic, political, and intellectual history in its analysis of economic liberalism in Latin America. The volume demonstrates the unique and varied features of Latin American liberalism from its formative period up to 1940 and discusses its relation to state formation. The essays range from a continent-wide comparison to an in-depth local study, from tariff and industrialization policies of central states to the selective liberal convictions of traditional estate owners. The contributors consider the social bases of economic liberalism in the region and their relation to imperialism and to economic dependency. Questions of the strength and the staying power of economic liberalism are considered. In addition, the late appearance of serious alternative policies are treated.

In the past fifteen years a new field of research has emerged in economics: the application of control theory methods to macroeconomics and to microeconomics. The papers and books which have resulted from this research are important to the development of theoretical and applied economics. However, they are inaccessible to many with interest in economics because of the technical nature of the discussion. This book attempts to make the macro economic portion of this literature more accessible by providing a discussion of the key issues using words and figures rather than mathematical symbols. I would like to thank my mentors and colleagues in control theory and economics for their help over the years: Masanao Aoki, Michael Athans, Yaakov Bar-Shalom, Jeremy Bray, Arthur Bryson, Gregory Chow, Ray Fair, Laurie Henrikson, David Livesey, Raman Mehra, Alfred Norman, Robert Pindyck, Franklin Shupp, John Taylor, Lance Taylor, Peter Tinsley, Edison Tse, and Stephen Turnovsky."

The Caribbean basin region has experienced many economic changes in the new global environment. The islands' business enterprises must function effectively if they are to improve the commercial position of the region's individual economies. This book examines the role producer services, specifically the major accounting firms, play in the sustainability and expansion of the Caribbean basin economies.

The first part establishes the frame of reference for the book. A specific and detailed review of accounting services provided throughout the region follows. The third chapter describes the legal and institutional parameters facing accounting practice in the basin. The last section summarizes the general roles of services as they grow and change as well as the economic impact of accounting services.

Gathering contributions by leading social development scholars, this report offers a comprehensive description of the national development of cultural consumption in China. By comparing the annual growth of cultural consumption, GDP growth, per-capita income growth and savings growth, the authors reveal the disparity between urban and rural areas in terms of cultural consumption, as well as that between provinces. Based on an analysis of the status quo of cultural consumption in China, the book explores the road to a prosperous society and enhancing China's cultural development.

Among the concepts used to assess the sustainability of fiscal policy in a changing demographic environment, generational accounting has become the most prominent. This book gives a complete and up-to-date introduction to the theory and practice of the method. It reveals deficiencies of the original residual concept and discusses various measures of intergenerational redistribution based on the recent sustainability approach to generational accounting. An application using data on German public finances serves to provide an in-depth explanation and practical illustration of the technique. The study develops new procedures to evaluate the fiscal externalities of migration and the redistribution of net wealth among living generations resulting from Social Security reform. The book is an indispensable source of reference for analysts employing generational accounting and for those wishing to study intertemporal redistribution through fiscal policy.

'... a well written book ... covering ... a vast amount of material ... well balanced between the theoretical and applied works. The authors are judicious and fair in providing a balanced treatment of the two alternative theories of growth performance: supply-oriented and demand-oriented. The book will serve as a guideline to researchers and policymakers ... as a textbook for upperdivision undergraduate and graduate courses.'- Kashi Nath Tiwari, Kennesaw State College This is the first book of its kind to argue in a consistent and comprehensive way the idea that a country's growth performance cannot be properly understood without reference to the performance of its tradeable goods sector and the strength of its balance of payments. It puts forward a demand orientated theory of why growth rates differ between countries where the major constraint on demand is the balance of payments. The book is critical of neoclassical growth analysis and provides an alternative theory of growth performance to the supply orientated approach of neoclassical theory. There are theoretical chapters comparing and contrasting neoclassical growth analysis with the new demand orientated approach, and empirical sections which apply the new model to regions and countries, including two case studies of the UK and Australia.

This book discusses ways to improve macroeconomic policy in the context of the various macroeconomic problems of the past two decades, with the chapters having been written at various times over that period. It emphasises the need to find the best combinations of monetary policy and different forms of taxation and government outlays to achieve high employment and low inflation. There is a concluding chapter discussing the special problems that arise when inflation has become low, zero or even negative.

This book presents the latest findings on network theory and agent-based modeling of economic and financial phenomena. In this context, the economy is depicted as a complex system consisting of heterogeneous agents that interact through evolving networks; the aggregate behavior of the economy arises out of billions of small-scale interactions that take place via countless economic agents. The book focuses on analytical modeling, and on the econometric and statistical analysis of the properties emerging from microscopic interactions. In particular, it highlights the latest empirical and theoretical advances, helping readers understand economic and financial networks, as well as new work on modeling behavior using rich, agent-based frameworks. Innovatively, the book combines observational and theoretical insights in the form of networks and agent-based models, both of which have proved to be extremely valuable in understanding non-linear and evolving complex systems. Given its scope, the book will capture the interest of graduate students and researchers from various disciplines (e.g. economics, computer science, physics, and applied mathematics) whose work involves the domain of complexity theory.

Whether they should or not, few economists do in fact refrain from making pronouncements on public policy, although the state of the economy (both here and elsewhere) suggests that either the advice given is bad or, if good, that it is ignored . . . I happen to think that we are appallingly ignorant about many aspects of the working of the economic system -- the economics of the firm and industry. Ronald H Coase, Economists and Public Policy In this volume we attempt to address an element of Coase's concern by linking the empirical economics of the fInn and industry more closely to macroeconomic policies, and to demonstrate how to assess some of the effects of those policies. The scope of our study ranges from a structural macroeconomic model of the United States, from which macroeconomic effects are propagated to detailed structural models of SIC four digit industries. The rationale for our approach is very much in the spirit of various integrated macroeconomic/industry models constructed by Dale Jorgenson, working with various collaborators. Our approach is also consistent with, and motivated by, Lawrence Klein's agenda of modeling explicitly and structurally the macro and sectoral elements in the national economy. We also examine the effects of the macroeconomic policies of different countries on the enterprise. In only one case, our examination of crowding out of private investment by government defIcit fmancing, is the linkage among sectors implicit.

This book examines the economic logic of the significant variation in growth over long periods. What's necessary for the U.S. and other developed nations to realize stronger growth and more equal incomes? What's necessary for families to feel vacations, college educations, and retirements are possible? Will artificial intelligence (AI) automate or augment workers' jobs? Will the 2020-2021 global pandemic be sufficiently disruptive to deliver fundamental transformation? Economic success in the decades ahead will depend on the willingness of households, businesses, and governments to innovate and change ways of living and working. To explore these questions, the 4th Industrial Revolution is a unique frame to assess global economic transformation, providing a point-in-time reference for placing current events in the context of sustained, multi-decade periods of faster and slower growth. Political, social, and economic metamorphoses have accompanied each revolution. This book examines the economic logic of the significant variation in growth over long periods. Climate change and the global warming consequences of fossil-fuel technologies will need to bring about a new energy technology and, if successful, result in renewable energy sources, reducing energy expense. The success of the 4th Industrial Revolution is not assured. While the future is uncertain, history suggests success requires that barriers are addressed, workers and businesses engage in the necessary change, and a positive policy response provides the needed leadership. The book proposes a Growth and Fairness Agenda and a New Social Contract through which stronger economic growth and more equally distributed incomes can be possible. Recognize traditional policy actions may be insufficient to achieve stronger long-term growth. Promote improved confidence and a positive outlook among small and medium enterprises. Encourage advances in AI technology while addressing risks and fairness issues. Support deeper worker engagement between business leaders and workers. Seek a new social contract among workers, businesses, and governments.

Economic growth and its relevant subjects have been given the first priority in the research agenda since China initiated economic reforms in 1978, while the topics of social protection and gender equality have been largely left at the periphery for a long period. This book is a collection of evidence-based studies conducted mainly in poor areas of rural China during the recent two decades. Based on individual interviews and sample data analyses, this book emphasizes the importance of cooperative organizations to poverty reduction, and puts forward that gender equality is closely related with sustainable development. In addition, it addresses the issues of food security and elimination of social exclusion - the key to bridging economic divide. It also studies social protection, including basic health protection system, nutrition and healthcare for children, old age security for landless farmers and rural migrant workers. By providing first-hand accounts of different vulnerable groups, such as the poor, women, migrant workers, ethnic minorities and small farmers, this book offers valuable insights into studies of contemporary Chinese society and economy.

Unlike earlier studies of the Marshall Plan, this volume concentrates not on events in Washington, but on those in France and Italy--the second and third largest beneficiaries of the Plan. Using U.S., French, and Italian sources, the author analyzes the impact of the Plan on French and Italian economic policy between 1948 and 1950. Taking neither a "realist" nor "revisionist" stance, the author argues that massive American aid to Western Europe was a perceived political necessity--that American, French, and Italian governments shared with Truman the strategic-ideological goal of Communist containment. Yet, not all of the philosophy embedded in the Plan could be implemented, and American ideology did not, therefore, have a decisive influence in reshaping postwar French or Italian economic policies. The book's introduction discusses the goals of the Marshall Plan and how postwar political circumstances led France and Italy to dissimilar economic recovery paths that would often clash with American goals. The following seven chapters analyze how American officials sought to influence French and Italian economic policies. Chapters 2, 3, and 4 cover the French case; chapters 5, 6, and 7, the Italian. The concluding chapter provides a direct comparison of the French and Italian experiences and suggests implications for current historiographical debates.

This book examines sustainable wealth formation and dynamic decision-making. The global economy experienced a veritable meltdown of asset markets in the years 2007-9, where many funds were overexposed to risky returns and suffered considerable losses. On the other hand, the long-term upswing in the stock market since 2010 has led to asset price booms and some new, but also uneven, wealth formation. In this book a broader set of constraints and guidelines for asset management and wealth accumulation is developed. The authors investigate how wealth formation and the proper management of financial funds can help to adequately buffer income risk and obtain sufficient risk-free income at a later stage of life, while also being socially and environmentally sustainable. The book explores behavioral and institutional rules for decision-making that reflect such constraints and guidelines, without necessarily being optimal in the narrow sense. The authors explain the need for such a dynamic decision-making and dynamic re-balancing of portfolios, by putting forward dynamic programming as an approach to dynamic decision-making that can allow sustainable wealth accumulation and dynamic asset allocation to be successfully integrated. This book provides a clear and comprehensive treatment of asset accumulation and dynamic portfolio models with an emphasis on long term and sustainable wealth formation. An important concern in public debate is the sustainability of our economy and this book employs cutting edge quantitative techniques and models to highlight important facts that cannot be disputed under any reasonable assumptions. It has the potential to become a standard reference for both academic researchers and quantitatively trained practitioners. Eckhard Platen, Professor of Quantitative Finance, University of Technology Sydney, Australia This book should be read by both academics and practitioners alike. The former will find intellectually rigorous discussions and innovative solutions. The latter may find a few of the concepts a bit challenging. Yet, theory and technology are there to help simplify the work of those who worry about what time it is rather than how to make a watch--- but they do need a watch. Jean Brunel, Founder of Brunel Associates and Editor of The Journal of Wealth Management

This work examines the role of comptetence, organization and strategies of firms in industrial dynamics linking eceonomic, management and historical persectives. In the first part of the book, a series of economic and managerial contributions discuss the concepts, dimensions and effects of routines, competence, adaptation, learning, organizational structure and strategies in the evolution of industrial enterprises at the theoretical and empirical levels. In the second part of the book, a series of historical papers examine these issues in a long-term perspective for the United States, Japan and several European countries.

Nations worry about their shrinking sovereignty as large numbers of immigrants cross borders at will. This collection of essays asks if globalization is killing off the nation state.

The intention of this book is threefold: presenting and advancing German reporting on income distribution and poverty, looking at experiences with advanced reporting schemes in two other EU countries, and discussing concepts for comparable social monitoring in the European Union. The first group of papers elaborates on recent findings for Germany (trends in the personal distribution of income and income poverty, multidimensional approaches to measure poverty and extreme poverty, redistribution). Of special interest is a critical methodological review of the two main German databases for distribution analyses, taking the suggestions of the Canberra Group as a reference. The second group of contributions reviews research on income distribution and poverty in Great Britain and Ireland. The last paper discusses concepts of comparable indicators for poverty and social exclusion in the EU.