This work by a well-known futurist and Danish diplomat, examines Europe's future, analyzing the deepest currents governing the evolution of Europe in relation to the interaction of culture and technology. The book describes the role of the European nation-states, regions, and enterprises. It provides a sketch of the European role vis-a-vis the United States and Japan. And it outlines the author's view of Europe's passage from the industrial to the immaterial age: the competitive parameter of Europe's future will be primarily that of culture, and the cultural attribute will define the profile of all European enterprises. Culture, knowledge, and entertainment will take over as the engines of future economic development. Moller is buoyant with regard to the future of European integration, and in suggesting culture as the driving force behind that integration, he offers a new and refreshing vision for Europe's future.

Despite the regional currency crisis of 1997-1998, Asia-Pacific economies continue to be among the most attractive markets in the world. Japanese, American, and European firms have invested heavily in the past decades, and now are positioning themselves to take advantage of the post-Asian recovery, phenomenal Chinese growth rates, and deepening economic liberalization. This pathbreaking work focuses on understanding the market and nonmarket strategies employed by US firms to boost their share of the developing Asian market and to rally the US government in support of their initiatives. In addition to advancing a novel theoretical framework to analyze strategy, the book contains an overview chapter focuses on US investment and trade trends in Asia and original case studies of the banking, automobile, telecommunications, chemical, software, and electronics sectors that provide insight into winning strategies in Asia.

Recently, there have been public concerns about the impact of emerging market multinationals. The expansion of China's multinationals to Europe and the Belt and Road Initiative is a prominent example that has kindled hope but also started to increase awareness of the long-term implications. Based on a systematic analysis of internationalization theories, the role of foreign direct investment and multinational companies combined with in-depth empirical research using case studies in Turkey, Russia, Latin America, Asia and Europe, this timely edited volume addresses opportunities and concerns related to this new trend. It also provides new insights that are highly relevant for scholars, policy makers, regional business agencies and students, as well as the public at large. By focusing on the (potential) impact of the expansion of emerging market multinationals on Europe and by including a long-term perspective, the book offers a fresh perspective on a highly controversial issue.

The new global climate of free enterprise has brought with it a proliferation of offshore financial centers that presumably have important roles to play in the emergent global economy. The air of secrecy that appears to pervade the activities of offshore financial centers may well slant or obscure any real understanding of the functions of such centers. The authors investigate the role of major international accounting firms and their services in the processes of business facilitation in the locations that host these centers. By focusing the investigation upon the role of the accounting firms in offshore financial centers, the authors gain a better grasp of the real or potential impacts of the firms in the global economy and in the jurisdictions that host them. Not only do the authors provide a detailed assessment of what the major accounting firms are actually doing in the centers, but they point out what attributes are needed by jurisdictions hoping to succeed as offshore financial centers. The centers included are Antigua, Barbuda, the Bahamas, Barbados, Bermuda, the Cayman Islands, the Channel Islands, the Isle of Man, Gibraltar, Malta, Cyprus, Bahrain, the United Arab Emirates, Mauritius, the Seychelles, Singapore, and Vanuatu.

The authors describe the legal and institutional environments facing business operations in general and the accounting firms in particular in offshore financial centers. By studying these operations, it should show what they are doing in terms of facilitating the international activities that flow through such centers. It should also add to the understanding of the potential that offshore activities have as vehicles for development in small emerging economies. This study should be of interest to a wide range of business disciplines, as well as governmental agencies in advanced and emerging nations, international agencies such as regional development banks, and accountants and the international financial community.

This book aims to explore the development model of Great Bay Area (GBA) of China as economic engine under the context of open policy. Based on comprehensive research, both theoretically and practically, on the leading free ports in the world and the regional development of well-known bay areas, it analyzes the challenges and opportunities of GBA synergetic free ports. A series of initiatives on the development of GBA synergetic free ports are proposed, including the synergy of space, industry, finance, technological innovation, institution, social governance, and personnel. Also, it ends with a system dynamic model to simulate the regional impact on GBA synergetic free ports, which indicates that economic development, trade, government finance, and population agglomeration would be improved significantly, in the GBA synergetic free ports scenario.

This book examines the rise, spread and decline of participatory budgeting in Brazil. In the last decade of the twentieth century Brazil became a model of participatory democracy for activists, practitioners, and scholars. However, some thirty years later participatory budgeting is in steep decline, and on the verge of disappearing from Brazil. Drawing from institutional, political choice, civil society, and public administration literature, this book generates theory that accounts for the rise and fall of an innovative democratic institution. It examines what the arc of the creation, spread, and decline of participatory budgeting tells us about the long-term viability and potential democratic impact of this innovative democratic institution as it spreads globally. Will the same inverted trajectory plague other countries in the future, or will they be able to sustain participatory budgeting for greater periods of time?

This open access book compiles a series of chapters written by internationally recognized experts known for their in-depth but critical views on questions of resilience and food security. The book assesses rigorously and critically the contribution of the concept of resilience in advancing our understanding and ability to design and implement development interventions in relation to food security and humanitarian crises. For this, the book departs from the narrow beaten tracks of agriculture and trade, which have influenced the mainstream debate on food security for nearly 60 years, and adopts instead a wider, more holistic perspective, framed around food systems. The foundation for this new approach is the recognition that in the current post-globalization era, the food and nutritional security of the world's population no longer depends just on the performance of agriculture and policies on trade, but rather on the capacity of the entire (food) system to produce, process, transport and distribute safe, affordable and nutritious food for all, in ways that remain environmentally sustainable. In that context, adopting a food system perspective provides a more appropriate frame as it incites to broaden the conventional thinking and to acknowledge the systemic nature of the different processes and actors involved. This book is written for a large audience, from academics to policymakers, students to practitioners. This is an open access book.

This book addresses the causes and consequences of the international financial crisis of 2008. A range of esteemed contributors explore developments in the United States, where the crisis of 2008 originated, as well as the smallest country affected, Iceland, by evaluating developments since 2008. Currently, many countries are facing similar problems as Iceland did in 2008: this book is of interest to economists and policy makers in these countries to study what happened in Iceland, and why the recovery of that economy was strong and swift. The chapters in this book originate from panel discussions and conferences and explore areas including regulation, state projects and inflation.

This book examines Foreign Direct Investment of major Korean automotive companies in Europe, with particular reference to how economic integration has affected the motivations and patterns of FDI and industrial location. The book is a valuable source of information on FDI, the automobile industry in Europe and South Korea and business decision-making process in general.

This volume presents new methods and applications in longitudinal data estimation methodology in applied economic. Featuring selected papers from the 2020 the International Conference on Applied Economics (ICOAE 2020) held virtually due to the corona virus pandemic, this book examines interdisciplinary topics such as financial economics, international economics, agricultural economics, marketing and management. Country specific case studies are also featured.

This book examines the political connections and trade relations between Italy and China, with particular emphasis on the second half of the 19th century and the period following the Second World War. In recent years, economic relations between the two countries have intensified as a result of increasing exchange and trade agreements, with positive impacts on their political and diplomatic relations. By studying original public sources such as the Archives of the Italian Ministry of Foreign Affairs, the Bank of Italy and the Central State Archives in Rome, the author offers a historical perspective on the evolution of the two countries' economic and political ties. The respective chapters address e.g. the role of international governmental authorities, the role of the Italian Bank of China, the impact of trade agreements and foreign investment projects, etc. Given its scope, the book will appeal to scholars of economic history and international economics, as well as political scientists and legal scholars with an interest in international diplomacy and trade agreements.

This book adopts a comprehensive approach, combining the views of economists and political scientists, to assess the threats of maintaining the non-collaborative stance that prevailed in the response to past crises, and to explore new solutions to the present emergency. The coronavirus pandemic represents a serious test for the continued existence of the European Monetary Union. It has worsened pre-existing divisions among its members and highlighted the urgent need to address institutional and governance problems that were already apparent in the aftermath of the financial crisis and sovereign debt crisis, but have now gained in relevance following the more widespread impact of the disease across the European Union. This book discusses concrete strategies to overcome the current challenges, focusing on the need to build an effective economic and monetary union. It also reflects on ways of pursuing conformity with discipline and coordination rules while also adopting a more collaborative stance that has so far been absent in the Eurozone and has consistently undermined the political and social dimensions of the common currency project.

Russia and many other transition countries are now facing the challenges of opening up, restructuring, and modernizing their economies, which requires addressing numerous institutional weaknesses and supply-side distortions. From a regional perspective, drawing on the experience of other reforming countries, the papers examine these issues. Aspects addressed include the implications of trade and capital flows, the process of labor market reform, financial market development, productivitiy growth, and innovation dynamics. The dynamics of the reform process are also studied in the context of new political economy models.

This book assesses Iran's role in contemporary geopolitics. In particular, it examines three main intertwining circles: Iran's development and political challenges, its relationships with neighbouring countries, as well as its relations with the major global powers - China, the European Union, Russia, and the United States. With contributions from over 20 authors, the book spans such critical aspects of contemporary geopolitics as modern history, natural resources, the economy, the social-political context, and strategic thinking. Particular focus is placed on Iran's relations with its neighbours - Afghanistan, Iraq, Israel, Pakistan, and the Persian Gulf States. Furthermore, the book offers both a bilateral and multilateral dimension on how nuclear sanctions imposed on Iran have impacted its strategic planning, from the economic and military perspectives.

This book focuses on the current tension between China and the US on trade imbalance and discusses China's opening-up strategy in the context of this trade conflict. The book is divided into two parts. In the first part, the author presents a detailed analysis of the current state of the China-US trade relationship and describes the potential impacts of China-US trade conflicts. The topics covered in this section include the re-estimate of US trade deficit with China, China's non-market economy status, the impact of China-US bilateral investment treaties on China's manufacturing sectors, and the estimated welfare losses and gains resulting from the China-US trade war. Part II explores China's possible response and development strategy in the context of de-globalization. Based on an overview of China's three stages of economic reform and opening-up policy in the past four decades, the author discusses the future tasks that would move the country into a new stage of all-round opening up. Lastly, the book comprehensively reviews the role of processing trade, trade liberalization, and firm performance in promoting China's miraculous economic growth so as to foster a better understanding of China's experience of opening up over the past 4 decades.

In the contemporary business world, international is the default setting. Most organizations operate globally on some level which adds value but brings complexity and challenges. This textbook provides an introduction to understanding how businesses create value in global settings. In this updated edition, the authors cover the traditional key themes including multinationals, internationalization and international market entry, as well as contemporary issues. New topics analyzed in this edition include risk, business models and hyperglobalization. With dedicated chapters on the role on non-market actors in international business, the book provides a multi-disciplinary world-view for readers. A comprehensive and engaging text, supplemented by online resources, this book is the ideal accompaniment to international and global business learning.

This book demonstrates the applications of Purchasing Power Parity (PPP) in exchange rate determination as well as more practical applications of salary comparison and the cost-of living across borders. It uses The Economist's annual Big Mac Index in place of the traditional basket of services used in PPP research. The author demonstrates that this is a good solution to the index-number problem since it is readily available and more appealing as an international monetary standard. The book also shows how The Big Mac Index could have been used to predict the Asian Currency Crisis and the Mexican Peso stand-off where more traditional economic measures failed.

Before the financial crisis, fiscal policy often played a secondary role to monetary policy, with the manipulation of interest rates to hit inflation targets being the main instrument of macroeconomic management. However, after the financial crisis and the subsequent euro crisis, fiscal policy has been brought back to the fore. In the past, the limited understanding of the effects of fiscal policy, neglect of monetary-fiscal interactions, faulty institutional set ups or ignorance of market expectations often led to bad policies. This book, written by a team of leading economists, seeks to address the current oversight of fiscal policy and to upgrade our understanding and conduct of fiscal policy, presenting a well-balanced diagnosis and offering several important lessons for future fiscal analysis and policymaking. It is an essential read for academics and graduate students focused on the current debate over fiscal policy, as well as policymakers working on day-to-day policy issues.

This book examines the past, present and prospects of regional economic integration in Africa. The empirical analysis ranges from unions formed during the years following independence, to the proposed African Continental Free Trade Area (AfCFTA), which aims to remove trade barriers between all 55 African states. In addition, the book explores to what extent Africa's Regional Economic Communities (RECs) have advanced in accordance with a linear integration model of goods, labor and capital markets. The book subsequently evaluates the suitability of the European model of deep integration with costly institutions for the conditions specific to Africa, considering, for example, the role of informal and non-recorded trade. Stylized cases of regional division of labour with increasing returns and imperfect competition are introduced to support the economic integration logic. Past and current economic policies in Africa are scrutinized to answer the question: how can African regions best foster new manufacturing industries and value chains across the continent? In conclusion, the book outlines content and processes of Common Industrial Policy in the African regions. The book also addresses the controversial issue of international trade agreements between developing countries and the European Union or the USA and investigates whether these agreements impede or promote economic development in Africa. The book includes a detailed roadmap describing how to improve key clauses of agreements for economic partnership in the interest of African countries. In closing, it outlines a new vision of joint sustainable development for Africa and Europe.

This Palgrave Pivot provides an introduction to the economy and business environment of Vietnam, a member of the ASEAN Economic Community whose economy is rapidly growing. The introduction argues that though there may be perceived disadvantages in investing in Vietnam, there are a number of benefits as well, such as the country's openness to trade and foreign direct investment, the increasing ease of doing business there and the dynamism of the economy. The book then provides an overview of Vietnam's economic policy since 1975, covering reunification, attempts at a command economy, and finally renovation under Doi Moi Policy. Further chapters cover the expansion of the private sector, interest in foreign investment, and the peculiarities of marketing and finance in Vietnam. As an edited volume with chapters written by Vietnamese scholars across economics, history, and business, this book is critical reading for researchers studying Vietnam and other Asian economies and for businesses interested in expanding into that market.

This book is a pivotal publication that seeks to improve food security in the conditions of escalating protectionism in global agricultural trade. The authors argue that global trade systems have been increasingly distorted by emerging trade tensions between major actors such as the US, China, the EU, and Russia, as well as trade policies in many other countries. In view of the most recent disruption of global food supply chains due to the outbreak of the COVID-19, the book examines the effects of administrative restrictions, tariff escalations, and other forms of protectionism on food security. Over the decades, food security concerns have been emerging, along with the growth of the world population. More than two billion most impoverished people in the world spent up to 70% of their disposable income on food. In 2020, the running pandemic has unraveled accumulated problems. As many countries rely on agricultural imports, lockdowns and disrupted food production and supply chains tremendously threaten food security of those nations. Agricultural trade was already slowing in 2019 before the virus struck, weighed down by trade tensions, and decelerating economic growth. The spread of the virus and strict quarantine measures trigger economic decline that results in food prices rises and volatilities. Due to the pandemic, nearly all regions will suffer double-digit decline in trade volumes 2020. The virus will be defeated, but the effects of the protectionism outbreak would have a much longer-lasting impact on agricultural production, international supply chains, and food security worldwide. In this publication, the authors probe into many of the choices that link national, regional, and global policies extensively with the provision of food security for all in the new era of post-virus global trade. Since studying global agricultural trade has a multinational application, its outcomes might be shared with a broad international network of stakeholders, including research institutions, universities, and individual researches. The book is appropriate for government officials, policymakers, and businesses of many countries. Adaptation of research outcomes and solutions to the situation in particular countries and various collaboration formats will let to increase the visibility of the publication and to elaborate new practices and solutions in the sphere of establishing sustainable food security.

This book assesses the impact of globalization on the US economy from the perspective of international trade, finance, and immigration, with a view to eliminating misinformation in the current public debate about the costs and benefits of globalization. The United States has played a key role in the development of economic and financial globalization since the end of World War II and has been the largest force for integration of the global economy. While the US economy as a whole has been a net beneficiary from globalization, significant costs have been incurred by certain groups and communities as a result of its effects. This book evaluates the benefits, costs, and impact on income distribution for the United States in the areas of international trade, finance, and immigration, drawing on key findings of the relevant literature. A key argument of this book is that the US economy has been a significant net beneficiary from globalization, but that the government needs to do more for those workers negatively impacted by its effects. This book ends by proposing key institutional reforms at the national and international level that would foster further gains from globalization and create a more equal distribution of its benefits.

The book explains the way forward during 2014 and beyond for Indian IT Exporters in what the author refers to as a "multi-speed" global economy. The book covers several trends and industry shifts affecting Indian IT exporters from a business perspective. The primary focus is on multinational corporations (MNCs) and global banks based in the US and in Europe. The author leverages his industry experience to discuss strategies and new business models for Indian IT exporters. He also explains how the industry as well as Indian IT professionals can move up the value chain. Many topics are also relevant to India based captive units of MNCs in the Indian IT industry. The book is in three parts. Part 1 (chapters 2 to 4) introduces what the author describes as a "multi-speed global economy." The theme of Part 2 (chapters 5, 6 and 7) is how to get closer to global clients from a business perspective. Part 3 (chapters 8 to 10) covers implications for Indian IT exporters. The topics are intended to ignite the minds of readers, especially young Indian IT professionals. This book will provide them the necessary insight move up the value chain in the years ahead.

This proceedings volume contains research trends, issues and developments in global economics and management with particular focus on the digital postindustrial economy-Economy 4.0. Featuring papers presented at the Economic and Management session of the 2018 Prospects of Fundamental Science Development International Conference (PFSD 2018) held in Tomsk, Russia, this book presents new models, methods, analyses, and approaches to different sectors of economics and management such as tax policy, labor economics, econometrics, municipal management systems, and international finance, among others. The papers are related to three main topics: Theoretical approaches to the development of Economy 4.0, the construction of a postindustrial society, and their impact on the labor market, finance, public and social values. Innovative methods and models are mentioned as well. The creation and implementation of cryptocurrencies and block chain technology. Comparative analysis of regional and institutional economics in different countries such as Russia, China, the United States and the EU, among others. Regulation, supervision, accounting and economic security measures are also explored. Featuring industry-specific case studies in sectors such as oil and gas, agriculture, pharmaceuticals, IT and ecology, this book is a useful reference for academics, students, practitioners, and scholars in economics.