This book aims to theoretically and empirically enrich the GVC accounting framework with statistical physics and complex network theory from the perspective of econophysics, thus adding up to the existing theories. Besides, it also aims at capturing the essences of network models such as topological complexity, hierarchy, transmissibility, interaction, and causality and reflecting the objective interrelations among economies or between economies and economic systems on the GVC, so as to reveal the inherent evolution of the cross-regional and even global economic systems.

This volume provides research and analysis to understand the role of the former Soviet Union and its involvement in the global economy through the end of the Gorbachev period. It lays essential groundwork for understanding the issues and problems encountered in the contemporary marketization efforts to reform and overhaul the planned economies of Russia and the republics.

Various essays provide analyses of GorbacheV's foreign economic reforms and their origins; the relationship of the republics to the world market (highlighting their strengths and weaknesses in terms of their domestic economies and import-export structures); foreign trade reforms under Gorbachev; economic relations of the former Soviet Union with the EEC; and the U.S.S.R.'s changing economic relationship with the Third WOrld (Latin America in particular). A case study of a major joint venture project is provided. Also included is a chronology of foreign economic policy decrees shaping the market reform effort. The essays in this volume address political and economic problems associated with the integration of formerly planned economies into the world market system. This book will be of interest to political scientists specializing in international politics, Russian and Eastern European specialists, and economists interested in the area of the world once known as the Soviet Union.

This rich collection brings together distinguished authiors who analyze phases of capitalist development. The contributors represent a wide variety of disciplines and perspectives. They offer powerful analyses of the post-war boom, economic crisis, and globalization within the context of the study of capitalist development.

This book provides a fascinating perspective on why China will very likely continue to play a major role in world export at a time when it is losing its comparative advantage in labor-intensive manufacturing products as a result of rapidly rising labor cost and appreciation of its currency-the secret lies in the fact that China (as the most populous nation) can benefit from increasing returns to scale. However, the author also clearly outlines the enormous challenges ahead of China: to urbanize and integrate most of its rural population as a precondition for China to explore its potential advantage in scale economy through agglomeration effects.' - Guanzhong James Wen, Trinity College, US and Shanghai University of Finance and Economics, China'This is an original reading by a Chinese economist on the grand topic of China's urbanization. Through gathering a vast amount of raw materials available in Chinese, the book deliberately maintains its indigenous flavour and introduces rich and timely information to the outside world, on topical issues such as household registration (Hukou) reform, fairness of land acquisition, housing price control, forced demolition, urban poverty, traffic congestion and many other topics. The attempt to consider the implications for the world economy, especially on issues such as energy and material consumption, is extremely valuable and much needed.' - Fulong Wu, University College London, UK This innovative book places China's urbanization within a broader global context, including a detailed estimate of China's total domestic market and its impact on the world economy. Urbanization has become a new driving force in China's development. Through China's urbanization process, China's role in the world economy will change from the world's major workshop to one of the world s central markets. The increase in demand triggered by urbanization has created a tremendous impact in the international market, changing China's international trade patterns, foreign investment and exchange rate. The success of China's urbanization depends on a group of intertwined economic and political reforms, the vision and determinedness of the leadership, cooperation and opposition of the local government, and the attitude of society. This book focuses on the logic and contradictions of China's urbanization and its future, its impact on the world economy, and the policy tradeoffs the Chinese leadership face. Economists, policymakers, academics and students interested in urban policy, international studies, Asian studies and the impact of China's urbanization on the world economy will all have much to learn in this groundbreaking book. Contents: Preface Prologue Part I: China s Urbanization 1. China's Urbanization: History and Facts 2. The Road Map and Logic of China's Urbanization 3. Industrialization and Urban Development 4. Labor Migration 5. Land and Local Government Finance 6. Infrastructure and Housing Construction 7. Social Aspects of Urbanization 8. Other Problems with Urbanization 9. The System of the Cities Part II: China's Impacts on the World Market 10. Overall Estimates and Assumptions 11. Raw Materials and Capital Goods 12. Consumer Market 13. Relocation of Factors: Labor and Capital 14. Macroeconomic Impacts Part III: Choices of China and the World 15. China's Choices 16. The Choices of the Rest of the World Conclusions Reference Index

This thoroughly updated and revised edition of a widely acclaimed, classic text will be required reading for academics, policymakers 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.

The current trend towards globalization is posing a substantial challenge to SME clusters to restructure and reach out to distant markets and knowledge sources, while at the same time exploiting the advantages of local factors and agglomeration. This book represents a first attempt to analyze these issues in detail, employing novel empirical evidence. The authors focus on Small and Medium-sized Enterprises (SMEs) in Italy and Taiwan, two countries in which these businesses characterize the national industrial structure. They find that in the current climate of globalization, there is no best practice model for organizing an industrial cluster since a diversity of successful institutional arrangements is possible. They demonstrate that over time SME clusters can evolve and that globalization can reshape their upgrading options by providing a variety of international knowledge linkages. Thus, the authors conclude that the development of local and global networks and new interactive modes of knowledge creation, which have co-evolved as a result of globalization, have provided the necessary conditions for competitive survival. Taking a multidisciplinary approach, the authors utilize a number of analytical tools to evaluate their survey data and present an original comparison between the experiences of two countries that are facing the challenges of globalization, often with differing strategies. This book will be of great interest to industrial and international economists, policymakers, and corporate and SME managers.

This edited volume examines the development path of eight Central and Eastern European countries with an overlapping historical background that joined the European Union between 2004 and 2013, and identifies the main similarities and differences between the countries concerned. Based on wide comparative data analysis of Bulgaria, Croatia, The Czech Republic, Hungary, Poland, Romania, Slovakia, and Slovenia, each chapter in the volume provides detailed information about the state of the economy in a specific area preceding the pandemic shock. The book offers a detailed snapshot of the state of the different areas of the economy, starting from the time when the countries concerned came out of the 2008 financial crisis, up to the date when COVID-19 hit. Further, each chapter analyzes the effects of this unprecedented shock on a particular field, which is followed by highlighting the main problems the countries are facing at present and in the near future, together with identifying the available policy options. Finally, before concluding and making general and country-specific policy recommendations, some thoughts will be given to longer-term prospects. More specifically, the question of how the subject area could contribute to avoiding the "middle-income-trap" that this region may be facing will be addressed. The comprehensive approach makes this volume a must-read for scholars and students of economics, as well as policy decision-makers in Europe, interested in a better understanding of the region's economic development.

This book contributes to an ongoing debate about the EU as a global actor, the organization's ability to speak with one voice in energy affairs, and the external dimension of the regulatory state. Investigating whether the Energy Union amounts to a fundamental shift towards Europe's new 'Liberal Mercantilism', it gathers high-level contributors from academia and the policy world to shed light on the changing nature of the EU's use of power in one of its most crucial policy fields. It argues that the Energy Union epitomizes a change in the EU's approach to managing its economic power. Whilst the EU remains committed to a liberal approach to international political economy, it seems ready to promote regulation for the purpose of augmenting its own power at the expense of others, notably Russia. This edited collection will appeal to political scientists, economists and energy experts.

Woodward, Nigh, and their colleagues provide a comprehensive investigation of foreign ownership in the United States. Based on the latest, most reliable data and comprising the viewpoints of leading authorities on foreign direct investment, the book offers detailed, previously unpublished information on the effects of foreign direct investment in the United States. The authors find that foreign-owned and domestic corporations are similar in many aspects of their behavior and its effects on the U.S. economy and society, but there are important differences too. By showing exactly where these similarities and differences lie, and using evidence that goes beyond anecdotes, the book makes a significant contribution to the improvement of public policy in the FDI arena. Its primary finding: globalization reduced foreigness. This is an important resource for professionals and academics alike, and for students of international business and economics on the graduate level.

Covering the state of knowledge on FDI in the 1990s, this work shows how it has moved beyond the polarizing debate over the foreign invasion that characterized much of the writings in the 1980s. It explores multinational companies' political action and corporate citizenship. Its policy section discusses foreign and domestic participation in federal industrial policy programs, and whether current regulations make sense. The book also offers a new approach to demarcating foreign ownership in national security/defense industrial bases. In its policy chapters the book covers the question of national treatment and investment in telecommunications. The book concludes with a timely analysis of the Multilateral Agreement on Investment under review by the Organization for Economic Cooperation and Development and the World Trade Organization.

The growth of global commerce depends on many different factors and strategies in order for multinational corporations to efficiently compete and thrive in the international marketplace. In addition to business strategies, corporations must also be aware of political affairs that may impact their global economic status. The Handbook of Research on Impacts of International Business and Political Affairs on the Global Economy features dual perspectives on the business and political viewpoints for nations striving to maintain their economic standing in the era of globalization. Providing insight into various economic factors impacting global businesses and international affairs, this publication is a critical reference source for students, policymakers, international diplomats, researchers, scholars, and practitioners interested in financial challenges in the era of globalization.

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.

The author analyses the implementation of the agricultural and industrial parts of the European Neighbourhood Policy (ENP) in Egypt, Tunisia and Morocco. Following a sectoral approach to assess the implementation of the ENP, he investigates which interest groups win and which lose from the policy.

Commoditization is a major challenge for companies in a wide range of industries, and commodity marketing has become a priority for many top managers. This book tackles the key issues associated with the marketing of commodities and the processes of commoditization and de-commoditization. It summarizes the state of the art on commodity marketing, providing an overview of current debates. It also offers managerial insights, case studies, and guidance to help manage and market commodity goods and services.

This volume examines the relationship between trade liberalization policies and income inequality in developing countries. Using survey data for 54 developing countries, the book explores the potential trade-off between the gains from trade and the distribution of those gains and provides a quantification of the inequality-adjusted welfare gains from trade. The book begins with an introduction to the model and its methodology. Chapter 2 sets up the model and derives the formulas for the welfare effects of trade policy. Chapter 3 uses the tariff data and the survey data to estimate those welfare effects in 54 countries. Chapter 4 discusses the gains from trade and their distribution. Chapter 5 evaluates and quantifies the trade-off between income gains and inequality costs of trade. Chapter 6 presents robustness tests and results from alternative models of the impacts of trade. The last chapter reviews the Household Impacts of Trade database and dashboard, which provides data for replication and a platform that allows researchers to simulate agricultural tariff policy shocks. Providing a comprehensive empirical analysis of the effects of trade policy on inequality in developing countries, this volume will be of interest to researchers and students of economic inequality, development, and international trade as well as policymakers interested in the inequality and poverty consequences of trade policy.

This book presents an in-depth understanding of the transformation of modern economy in the twenty-first century by examining the interface and interplay of three key forces of contemporary global economy-Foreign Direct Investment (FDI), Multinational Enterprises (MNEs), and Global Value Chains (GVCs)-and how the emerging nexus of these forces has already ushered in revolutionary transformation in global production, investment, trade, and employment in recent decades. A distinctive feature of the book is that it situates the contemporary GVC revolution-that envisages fragmentation and dispersion of production processes across the world based on competitive costs and quality-as a natural progression of the traditional FDIs-MNEs nexus, which emphasized internationalization of production and trade in search of profits, resources, markets, or cheap labour. Moreover, the book provides a comprehensive analysis, from historical, theoretical and empirical perspectives, of both traditional FDIs-MNEs Nexus that dominated the world economy until the end of the twentieth century, and of the New Nexus of FDIs-MNEs-GVCs, that has opened grand opportunities for global prosperity by providing short-cut paths to industrialization and economic growth for less developed countries. As an exemplar, the book examines GVCs in automobiles-a medium-tech manufacturing activity with numerous backward and forward linkages-to demonstrate how the FDI-MNE-GVC interface in this sector has wedged industrialization, employment, and trade in six emerging countries/regions-Brazil, Central and Eastern Europe, China, India, Mexico and Thailand.

This edited collection is a critical evaluation of the impact of fiscal imbalances on the economy of industrialized and developing countries as prepared by a diverse group of scholars involved in advanced research on public finance. Technical issues, economic consequences and the political economy of budget deficits and government debt are covered in one succinct volume. The work provides a balanced presentation of neo-classical views on measures of government deficits; the budget process and major budgetary legislation in the United States; and the impact of deficits on economic activity, exchange rates, inflation, financial markets, trade balance, and economic growth. It also examines the political economy of government budgets in the OECD, select developing economies, and South Africa. From the 1950s to the 1980s, economic activity and growth were affected by fiscal imbalances and excessive government activity in many countries. Although many actors have made retrenchment attempts, economic research has not resolved the conflicting arguments about the impact of fiscal imbalances on the global economy. This book provides a balanced presentation of all major issues related to the impact of fiscal activity on the economy.

This book analyzes recent developments and likely future paths for trade and financial integration in East Asia. It suggests a more coherent, balanced way forward for regional economic integration and analyses implications for institution building in East Asia. East Asia has achieved a high degree of intra-regional trade, investment and GDP correlation, through an expanding web of free trade agreements and production networks. However, financially, most regional economies are linked more closely to North America and Europe than to each other. As trade integration has accelerated, financial and monetary integration has not kept pace. East Asian Economic Integration analyzes potential reasons and remedies for this phenomenon through a multidisciplinary framework of law, politics and economics. This comprehensive book will appeal to researchers and students in political science, international relations, trade law, international finance law, and regional studies generally. It will also be of great interest to regional policy makers. Contributors include: H. Gao, P. Lejot, C.L. Lim, B. Mercurio, M. Mushkat, R. Mushkat, J. Nakagawa, C.-Y. Park, I. Sohn, L. Toohey, N. Vu, T.H. Yen

The 6th volume of Advances in Chinese Industrial Services, focuses on "The Managerial Process and Impact of Foreign Investment in Greater China"

International Business is a well-established research field, in which regionalisation has recently gained significant prominence. Europe comprises marketplaces characterised by unique patterns of highly advanced economic integration. No other marketplace in the world has progressed to the same levels of harmonisation across sovereign countries and economies. European Business is a subject in its own right with its own research momentum. Contemporary research evidences that firms view Europe as a challenging, mostly - yet not entirely - mature market location. Yet this location, often seen from a multi-country perspective, is subject to complexities revealing strategic corporate strengths and weaknesses. Theory, concepts and models known from International Business hence often vary in their applicability and relevance in this business environment. This comprehensive reference volume brings together a global team of contributors to analyse and overview the key issues, themes and phenomena that affect business in Europe. With interdisciplinary perspectives, the book covers crucial themes that any European Business research needs to acknowledge, including business cultures and identity, entrepreneurship and innovation, M&A and institutional trends, European HRM, migration, climate change issues, Brexit, and more. The selection of authors, from 17 countries worldwide, reflects the international scope of this research field and its agenda. A unique resource, this book provides an essential guide to researchers, research students and scholars of business and the social sciences, as well as the informed business community.

At a time of unprecedented growth in arbitrations between investors and States over energy resources, International Energy Investment Law: The Pursuit of Stability examines and assesses the variety of contract- and treaty-based instruments in commercial and international law that strive to protect the respective interests of investors and States in the international energy industry. It covers most forms of energy, especially oil and gas, and considers issues arising from energy network operation including transit. It pays particular attention to their practical impact through an analysis of their enforcement by arbitration tribunals and bodies, such as ICSID, the ICC and the LCIA. The book also examines growing challenges presented by environmental and human rights concerns to the stability of long-term agreements.
Investors in the international energy industry have long sought to secure guarantees from host States to mitigate the risk of unilateral revision of the deal at a future date. In recent years the traditional method of securing such guarantees has been supplemented by an unprecedented growth of international investment law in the form of BITs, MITs and other treaty-based instruments. Many States have also introduced guarantees into their domestic legislation. This 'multi-tier' regime of stability has fundamentally altered the legal framework for energy investors and host States and offers extensive scope for international arbitration in the event of disputes. It is a system that is currently being tested in a number of high-value commercial disputes as a result of a wave of unilateral State action, most evidently in Latin America and East Europe. The protections for investors are being tested as arbitrators develop new notions of 'legitimate expectations' and give content to 'fair and equitable treatment', while mapping out more precisely the duties which investors have to host States. This book examines critically the interaction between contract and treaty forms of stability in the new multi-tier setting, including two highly detailed regional case studies of Latin America and East Europe. In its concluding section, it looks forward to new challenges arising from climate change, human rights and environmental issues.

This book reviews for the first time some of the less frequently addressed actors in international investment law. Traditional studies concerning actors in international investment law have tended to focus on arbitrators, claimant investors and respondent states. This book explores transnational actors, such as UNCITRAL, the EU, international standardizing bodies, domestic and international courts and tribunals, etc., shedding light on their transnational activity and pluralistic role in international investment law.

The study analyses the effects of the EU enlargement on the capital markets in the most advanced countries of Central and Eastern Europe and Russia. It also investigates the impacts on the interactions between Eastern and Western capital markets that are due to the ongoing integration process. Therefore, the study should be particularly useful for financial analysts, institutional investors and academic researchers who are interested in the economic and institutional developments of capital markets in CEE countries and are looking for a thorough and comprehensive analysis of the future perspectives of these capital markets.

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.