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The inspiration for this book was a Summer School on State, Governance and Development presented by distinguished academics from the School of Oriental and African Studies, London. Written by young African scholars, the chapters here focus on state, governance and development in Africa as seen from the authors’ vantage points and positions in different sectors of society.
The book opens with three forewords by eminent African scholars including Ben Turok, Johan Burger and Mohamed Halfani. The chapters that follow examine rent-seeking, patronage, neopatrimonialism and bad governance. They engage with statehood, state-building and statecraft and challenge the mainstream opinions of donors, funders, development banks, international non-governmental organisations and development organisations. They include the role of China in Africa, Kenya’s changing demographics, state accountability in South Africa’s dominant party system, Somalia’s prospects for state-building, urban development and routine violence, and resource mobilisation.
At a time in which core institutions are being tested -- the market, the rule of law, democracy, civil society and representative democracy – this book offers a much-needed multi- and inter-disciplinary perspective, and a different narrative on what is unfolding, while also exposing dynamics that are often overlooked.
The West's two-century epoch as global powerhouse is at an end. A new world order, with China and India as the strongest economies, dawns. How will the West react to its new status of superpower in decline?
In Kishore Mahbubani's timely polemic, he argues passionately that the West can no longer presume to impose its ideology on the world, and crucially, that it must stop seeking to intervene, politically and militarily, in the affairs of other nations. He examines the West's greatest follies of recent times: the humiliation of Russia at the end of the Cold War, which led to the rise of Putin, and the invasion of Iraq after 9/11, which destabilised the Middle East. Yet, he argues, essential to future world peace are the Western constructs of democracy and reason, which it must continue to promote, by diplomacy rather than force, via multilateral institutions of global governance such as the UN.
Only by recognising its changing status, and seeking to influence rather than dominate, he warns, can the West continue to play a key geopolitical role.
In his most practical book to date, financial expert and investment advisor James Rickards shows how and why our financial markets are being artificially inflated and what smart investors can do to protect their assets. What goes up must come down. As any student of financial history knows, the dizzying heights of the stock market can't continue indefinitely. In turbulent times, the elites are prepared, but what should the average investor do? James Rickards lays out the true risks to our financial system and offers invaluable advice on how best to weather the storm.
To understand how humans react and adapt to economic change we need to study people who live in harsh environments. From war zones, natural disasters and failed states, to aging societies and the challenges of technological advancement, every life in this book has been hit by a seismic shock, violently broken or changed in some way. People living in these odd and marginal places are ignored by number crunching economists and political pollsters alike. Science suggests this is a mistake. This book tells the personal stories of humans living in extreme situations, and of the financial infrastructure they create. Here, economies are not concerned with the familiar stock market crashes, housing crises, or banking scandals of the financial pages. In his quest for a purer view of how economies succeed and fail, Richard Davies takes the reader off the beaten path to places where part of the economy has been repressed, removed, destroyed or turbocharged. By travelling to each of them and discovering what life is really like, Extreme Economies tells small stories that shed light on today's biggest economic questions, with vital lessons for our future.
Winner of the 2019 Lionel Gelber Prize 'Majestic, informative and often delightful ... insights on every page' Yanis Varoufakis, Observer The definitive history of the Great Financial Crisis, from the acclaimed author of The Deluge and The Wages of Destruction. In September 2008 the Great Financial Crisis, triggered by the collapse of Lehman brothers, shook the world. A decade later its spectre still haunts us. As the appalling scope and scale of the crash was revealed, the financial institutions that had symbolised the West's triumph since the end of the Cold War, seemed - through greed, malice and incompetence - to be about to bring the entire system to its knees. Crashed is a brilliantly original and assured analysis of what happened and how we were rescued from something even worse - but at a price which continues to undermine democracy across Europe and the United States. Gnawing away at our institutions are the many billions of dollars which were conjured up to prevent complete collapse. Over and over again, the end of the crisis has been announced, but it continues to hound us - whether in Greece or Ukraine, whether through Brexit or Trump. Adam Tooze follows the trail like no previous writer and has written a book compelling as history, as economic analysis and as political horror story.
Marketing: A Global Perspective is the much-anticipated EMEA edition of Grondslagen van de Marketing, the market leader in the Netherlands for over 25 years. In this bestseller, Dr Bronis Verhage strikes the right balance between marketing theory and practice. The text features perspectives from Europe, the Middle East, Africa and the wider world, embedded in a global context, offering a cutting-edge review of new priorities in marketing, as illustrated by a diverse selection of analyses of world-class companies' customer-focused strategies. This attractively-illustrated, full-colour edition includes a range of case vignettes assessing small and medium-sized enterprises and large global corporations such as L'Oreal, Philips and Google, encompassing the entire field of marketing, including services marketing, B2B and green marketing. **NOT FOR SALE TO THE NETHERLANDS**
'Stunningly good' Michael Burleigh, Evening Standard, Books of the Year 2017 A Financial Times Best Book of 2017 'A shrewd and knowing book.' Robert D. Kaplan, The Wall Street Journal 'A compelling and impressive read.' The Economist 'Skillfully crafted and well-argued.' Jeffrey Wasserstrom, Financial Times 'An excellent modern history. . . . provides the context needed to make sense of the region's present and future.' Joyce Lau, South China Morning Post The dramatic story of the relationship between the world's three largest economies, one that is shaping the future of us all, by one of the foremost experts on east Asia For more than half a century, American power in the Pacific has successfully kept the peace. But it has also cemented the tensions in the toxic rivalry between China and Japan, consumed with endless history wars and entrenched political dynasties. Now, the combination of these forces with Donald Trump's unpredictable impulses and disdain for America's old alliances threatens to upend the region, and accelerate the unravelling of the postwar order. If the United States helped lay the postwar foundations for modern Asia, now the anchor of the global economy, Asia's Reckoning will reveal how that structure is now crumbling. With unrivalled access to archives in the US and Asia, as well as many of the major players in all three countries, Richard McGregor has written a tale which blends the tectonic shifts in diplomacy with the domestic political trends and personalities driving them. It is a story not only of an overstretched America, but also of the rise and fall and rise of the great powers of Asia. The confrontational course on which China and Japan have increasingly set themselves is no simple spat between neighbors. And the fallout would be a political and economic tsunami, affecting manufacturing centers, trade routes, and political capitals on every continent.
There is no shortage of opinion about the International Monetary Fund (IMF). Some see it as the agent of austerity, being manipulated by wealthy nations and forcing poorer countries to pursue economic policies that suppress growth and development. A sharply contrasting view regards it as bailing out such countries with large amounts of soft finance, allowing them to avoid necessary adjustment. The challenge is to evaluate the alternative arguments and to distinguish reality from rhetoric. In this book, the authors undertake a careful and detailed empirical analysis of the underlying issues, covering participation in IMF programs, their implementation and effects on economic growth, and on the willingness of international capital markets to lend. Blending research methodologies and crossing conventional disciplinary boundaries, what emerges is a balanced and nuanced assessment of the IMF's operations that confronts many commonly held views. Unique in its broad scope, this careful examination of the IMF will be of great interest to students and academics in the fields of international economics and international relations. Those involved in international financial institutions and national monetary institutions will also find it to be an impartial and illuminating study.
The world economy is near a critical crossroads, as a rising China, the greatest-ever beneficiary of US-led capitalism, dreams to replace America's supremacy as a new hegemonic power with a non-liberal world order. This third volume of the trilogy on reformulating the `flying-geese' theory explains how capitalism has changed industrial structures across the world. It asks whether the `flying-geese' formation will survive the changes that have produced the East Asian miracle, and - as hoped - spread to Africa. Terutomo Ozawa's reformulated 'flying-geese' theory explains structural changes as an innovation-driven, ratcheting-up process of economic growth and shows that market-driven multinational corporations are key players for a successful `flying-geese' formation and structural transformation. The book argues that the `ladder' of economic development must be conceived as a double-helix with inter- and intra-industry rungs, the latter embedding cross-border supply chains and adaptive innovations. A thorough exploration of the structural changes under Pax Britannica and Pax Americana - moving from `kicking away the ladder' from emerging economies to then providing it - demonstrates that this trend engenders multinational corporations that can facilitate structural transformation, particularly in catching-up economies. Ozawa shows that China is now in the critical transitional period that requires more sophisticated institutional, socio-political setups, as well as more advanced knowledge and ethics to move from the lower to the higher rungs. This enlightening, accessible and timely conclusion to Ozawa's trilogy will be of great interest to many, particularly those specialising in international business, economics, political science, and international relations. Academics and practitioners alike will find this an invaluable resource.
Traditionally, the EU defence sector has been fragmented into several weakly integrated and highly protected domestic markets which often leads to the duplication of innovative efforts, rising production costs and an overall lack of competitiveness. This book investigates the ongoing liberalization of the European defence market and explores how companies can respond to these changes by adjusting their innovation and internationalization strategies. Using a variety of methods including case studies, econometric analyses and agent-based modelling, the authors reveal that liberalization will provide new and relevant opportunities for European defence companies. However, any potential benefits will only be realized if private firms perceive that a full and well-coordinated implementation process is in place. As a whole, the book provides an original assessment of innovation policy in the context of EU defence and security market liberalization. In addition to those studying innovation, European and security studies, this unique book is an indispensible reference for practitioners and policy makers dealing with EU defence and security market liberalization.
Migration and economic development are mutually linked. Development is a catalyst for migration and vice versa. However, the signs of causal links in both directions remain widely disputed, prompting questions about the reciprocity between the two. This Handbook summarizes the state of thinking and presents new evidence on various links between international migration and economic development, with particular reference to lower-income countries. The connections between trade, aid and migration are critically examined through global case studies. Some of the topics covered include: * a review of European states' co-development strategies to limit immigration and redirect remittances * an exploration of the role of the diaspora in transferring technology and stimulating trade * an examination of the economic roots of international terrorism. The various chapters extend our frontiers of understanding with fresh evidence, providing a useful reference point for researchers, students and policymakers interested in development and migration.
Thoroughly revised and updated, the second edition of this highly acclaimed textbook will be required reading for graduate and undergraduate students on a wide range of courses including: European economics, economic policy, European integration, European studies and international relations. Exploring the EU at an important turning point and during uncertain and turbulent times, the text will also prove an invaluable reference tool for academics and policy makers concerned with any facet of European integration. Comprehensive and accessible, this far-reaching text: * provides in-depth, state-of-the-art analysis of the origins, achievements and prospects of principal EU economic policies * covers all EU member countries as well as candidate countries * sets scenarios for future EU policy and organisational evolution * prescribes possible paths and directions for the EU, not only for economic policies but also for organisational structure; * features supplementary data via a companion website. Topics explored in detail include: EU budget, competition policy, Common Agricultural Policy, fiscal integration, monetary integration, industrial policy in manufacturing and services, trade policy and international economic cooperation, regional policy, social policy, mobility of labour, energy policy, transport policy, environment policy and enlargement.
The New York Times bestseller that reveals how investors can prepare for the next financial panic - and why it's coming sooner than you think. The global economy has made what seems like an incredible comeback after the financial crisis of 2008. Yet this comeback is artificial. Central banks have propped up markets by keeping interest rates low and the supply of money free-flowing. They won't bail us out again next time. And there will be a next time - soon. In The Road to Ruin, bestselling author James Rickards identifies how governments around the world are secretly preparing an alternative strategy for the next big crisis: a lockdown. Instead of printing money to reliquify markets and prop up assets, governments are preparing to close banks, shut down exchanges and order powerful asset managers not to sell. They're putting provisions in place that will allow them to do so legally. What's more, the global elite has already started making their own preparations, including hoarding cash and hard assets. When the next one comes, it will be the average investor who suffers most - unless he or she heeds Rickards' warning and prepares accordingly. James Rickards is the bestselling author of Currency Wars and The Death of Money. He is a portfolio manager at West Shore Group and an adviser on international economics and financial threats to the Department of Defence and the US intelligence community. He served as facilitator of the first-ever financial war games conducted by the Pentagon.
This well-researched book provides a concise contribution to a large-scale debate on economic globalisation. Martin Sokol introduces key theoretical approaches that help us to understand how economies work, why they suffer recessions and crises, and why economic inequalities at various levels are growing in the context of globalisation. He introduces key economic geography concepts and theories, demonstrating their application to our contemporary globalising world. The role that economic geography may play in informing policymaking is highlighted, and debates surrounding the recent global financial and economic crisis are expounded. This highly accessible book will prove an essential reference tool for academics, students and researchers focusing on geography, economics, planning and regional development, development studies, international politics and international business. Policymakers and practitioners in local, regional and national authorities, international bodies and non-governmental organisations will also find this book to be an invaluable resource.
Doing business in Europe is increasingly becoming an everyday reality for many companies, not only large corporations, but also small and medium-sized enterprises. European Business Environment offers students a practical introduction to how to create, manage and develop business opportunities in the European Union.
Taking a multidisciplinary approach to doing business in the EU, this textbook focuses on the European dimensions of economics, marketing and law. With case studies presented throughout the book, the relationship between business and the political institutions, policies and regulations of the European Union are explored.
This is an essential introductory textbook for students at both undergraduate and graduate levels in a wide range of degree and professional programmes, including Economics, MBA, Law and Marketing. It is of particular relevance to students interested in the European context of these disciplines and can be used as a core textbook for courses in European Integration or Business and International Environment in Europe and other parts of the world.
This thoroughly updated and revised edition of a widely acclaimed, classic text will be required reading for academics, policy makers and advanced students of international business worldwide. Employing a distinctive and unified framework, this book draws together research across a range of academic fields to offer a synthesis of the determinants of MNE activity, and its effects on the economic and social well-being of developed and developing countries. Unique to the new edition is its focus on the institutional underpinnings of the resources and capabilities of MNEs, and the role of MNE activity in transmitting and facilitating institutional change. Since the initial publication of this book more than a decade ago, the economic, managerial and social implications of globalisation and technological advancement have become even more varied and prominent. Accompanying these developments, there has been a rise in scholarly interest in interdisciplinary research addressing the important challenges of an ever-changing physical and human environment. Drawing on articles and books from international business and economics, as well as economic geography, political economy and strategic management, a systematic overview of the developments in scholarly thinking is presented, while also highlighting the emerging topical issues and methodologies.
Alan Krueger, the former chairman of the president's Council of Economic Advisers, uses the music industry, from rock artists to music executives, from managers to promoters, as a way in to explain the principles of economics, and the forces shaping our economic lives. As economists recognize, the music industry is often a leading indicator of today's economy; it is among the first to be disrupted by the latest wave of technology, and examining the ins and outs of how musicians create and sell new songs and plan concert tours offers valuable lessons for what is in store for businesses and employees in other industries that are struggling to adapt. Drawing on interviews with leading band members, music executives, managers, promoters, and using the latest data on revenues, royalties, tour dates, and merchandise, Rockonomics takes readers backstage to show how the music industry really works--who makes money and how much, and how the economics of the music industry has undergone a radical transformation during the last twenty years. Before digitalization and the ability to stream music over the Internet, rock musicians made the bulk of their income from record sales. Today, income from selling songs has plummeted, even for superstars like Taylor Swift; the real money nowadays is derived from concert sales. In 2016, for example, Billy Joel earned $212.4 million from his live performances, and less than $1 million from record sales and streaming. Even Paul McCartney, who has written and recorded more number one songs than anyone in music history, today, earns 93 percent of his income from live concerts. Krueger tackles common questions: How does a song become popular? And how does a new artist break out in today's winner-take-all economy?
Alan Krueger, the former chairman of the president's Council of Economic Advisers, uses the music industry, from rock artists to music executives, from managers to promoters, as a way in to explain the principles of economics, and the forces shaping our economic lives. As economists recognize, the music industry is often a leading indicator of today's economy; it is among the first to be disrupted by the latest wave of technology, and examining the ins and outs of how musicians create and sell new songs and plan concert tours offers valuable lessons for what is in store for businesses and employees in other industries that are struggling to adapt. Drawing on interviews with leading band members, music executives, managers, promoters, and using the latest data on revenues, royalties, tour dates, and merchandise, Rockonomicstakes readers backstage to show how the music industry really works--who makes money and how much, and how the economics of the music industry has undergone a radical transformation during the last twenty years. Before digitalization and the ability to stream music over the Internet, rock musicians made the bulk of their income from record sales. Today, income from selling songs has plummeted, even for superstars like Taylor Swift; the real money nowadays is derived from concert sales. In 2016, for example, Billy Joel earned $212.4 million from his live performances, and less than $1 million from record sales and streaming. Even Paul McCartney, who has written and recorded more number one songs than anyone in music history, today, earns 93 percent of his income from live concerts. Krueger tackles common questions: How does a song become popular? And how does a new artist break out in today's winner-take-all economy?
Can the Euro be saved? Should it be? Nobel prize-winning economist Joseph E. Stiglitz dismantles the prevailing consensus around what ails Europe - arguing that economic stagnation is a direct result of the Euro's flawed birth, demolishing the champions of austerity and offering solutions that can rescue the continent from further devastation. 'Stiglitz could hardly have timed The Euro better ... one of those economists with a rare ability to help readers understand complex ideas' Philip Aldrick, The Times 'Original, hard-hitting ... Much more than a demolition job. These chapters are full of constructive proposals' Martin Sandbu, Financial Times 'Terrific and clarifying' Peter Goodman, The New York Times 'Coolly analytical ... he is surely right: without a radical overhaul of its workings, the Euro seems all but certain to fail' Economist
Recent events in the US--high unemployment, record federal deficits, and unprecedented financial distress--have raised serious doubts about the future of the dollar. So profound has been the impact that some say the dollar may soon cease to be the world's standard currency. Is the situation that bad? In Exorbitant Privilege, one of our foremost experts on the international financial system argues that while the dollar is bound to lose its singular status to newcomers like the Euro and the Chinese Renminbi, the coming changes will be neither sudden nor dire. Barry Eichengreen puts today's crisis in historical context, revealing that only after World War II, with Europe and Japan in ruins, did the dollar become the world's monetary lingua franca--the reserve currency of the world's banks and the kind of cash accepted virtually everywhere. Now, with the rise of China, India, Brazil and other emerging economies, America no longer towers over the global economy like before. And the U.S. itself faces very serious economic and financial challenges as it contemplates its medium-term future. But despite this, Eichengreen concludes, predictions of the dollar's demise are greatly exaggerated. The paperback edition features a new afterword that takes the story up through 2012.
An incisive history of the changing relationship between democracy and capitalism The twentieth century witnessed the triumph of democratic capitalism in the industrialized West, with widespread popular support for both free markets and representative elections. Today, that political consensus appears to be breaking down, disrupted by polarization and income inequality, widespread dissatisfaction with democratic institutions, and insurgent populism. Tracing the history of democratic capitalism over the past two centuries, Carles Boix explains how we got here "and where we could be headed. Boix looks at three defining stages of capitalism, each originating in a distinct time and place with its unique political challenges, structure of production and employment, and relationship with democracy. He begins in nineteenth-century Manchester, where factory owners employed unskilled laborers at low wages, generating rampant inequality and a restrictive electoral franchise. He then moves to Detroit in the early 1900s, where the invention of the modern assembly line shifted labor demand to skilled blue-collar workers. Boix shows how growing wages, declining inequality, and an expanding middle class enabled democratic capitalism to flourish. Today, however, the information revolution that began in Silicon Valley in the 1970s is benefitting the highly educated at the expense of the traditional working class, jobs are going offshore, and inequality has risen sharply, making many wonder whether democracy and capitalism are still compatible. Essential reading for these uncertain times, Democratic Capitalism at the Crossroads proposes sensible policy solutions that can help harness the unruly forces of capitalism to preserve democracy and meet the challenges that lie ahead.
TRANSPORTATION: A SUPPLY CHAIN PERSPECTIVE, 8E equips you with a solid understanding of what is arguably the most critical-and complex-component of global supply chains. It explains the fundamental role and importance of transportation in companies and in society, as well as the complex environment in which transportation service is delivered. Providing a framework and foundation for the role of transportation in supply chains, it offers an overview of the operating and service characteristics, cost structure, and challenges faced by today's providers of transportation. It also highlights a variety of critical transportation management issues, providing insight into the strategic activities and challenges involved in the movement of goods through the supply chain. Completely up to date, TRANSPORTATION emphasizes global topics throughout, includes the latest coverage of hard and soft technology, and offers in-depth discussions of fuel, energy, managerial, economic, and environmental issues.
Ten years after the global financial crisis of 2008/09 there is widespread scepticism about the ability to curb volatile financial markets and achieve true international cooperation. Changes in the global rules of finance discussed in the G20 during the last decade remain limited, and it is uncertain whether they are suitable to help mitigate and manage future crises to come. This book offers an alternative to the popular notion that this failure is the result of the 'nature' of international relations, the clash of national egoisms, or ineffective national leadership. It instead provides an understanding of recent lapses in international cooperation by revealing their deeper structural origins in the competing models of capitalism operating across the globe. US finance-led, EU integration-led, and East Asian state-led capitalism complement each other globally yet have conflicting preferences on how to complement their distinct domestic regulations at the international level. This interdependence of capitalist models is relatively stable but also prone to crises caused by volatile financial flows, global economic imbalances, and 'currency wars'. To understand international economic cooperation, we must understand the diverse dynamics of the different models of capitalism on a domestic level, not only in financial markets but also in areas of corporate structure, labour markets, and welfare regimes. By establishing a deeper integration of approaches from International Political Economy and Comparative Capitalism, this book shows that regulating international finance is not a technocratic exercise of fine-tuning the machinery of international institutions, but rather a political process dependent on the dynamic of institutional change on a national and regional level.
This book addresses the long-standing puzzle of how China's private sector manages to grow without secure property rights, and proposes a new theory of selective property rights to explain this phenomenon. Drawing on rich empirical evidence including in-depth interviews, a unique national survey of private entrepreneurs, two original national audit experiments and secondary sources, Professor Yue Hou shows that private entrepreneurs in China actively seek opportunities within formal institutions to advance their business interests. By securing seats in the local legislatures, entrepreneurs use their political capital to deter local officials from demanding bribes, ad hoc taxes, and other types of informal payments. In doing so they create a system of selective, individualized, and predictable property rights. This system of selective property rights is key to understanding the private sector growth in the absence of the rule of law.
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