The world's financial markets experienced a strong globalization trend in the 20th century. With the removal of barriers to cross-border flow of capital, financial markets have become truly global during the last two decades of the century. The research papers included in this book study a number of important issues in the world's financial markets. The recent emerging markets crisis, which started in South-Eeast Asia and affected all the world's developed and emerging financial markets, is studied in detail. Another important issue, which receives considerable coverage in the book, is the European financial integration. The financial markets in the United States, Europe, Asia, and Latin America are studied extensively and the linkages between them are analyzed. The objective of the book is to provide the reader with a comprehensive and balanced overview of the world's financial markets at the end of the 20th century.

Product information not available.

This study provides an overview of how the Bangladeshi leather value chain is organised and governed. It analyses how the leather processing and leather goods/footwear subsectors are integrated into the global market and to what extent informal arrangements including illicit practices are conducive to global market entry. Power relations are dissected along the value chain, in order to analyse how local producers adapt to upholding competitiveness. The results of the work show the need to devise upgrading strategies which pay heed to the reality of informal dynamics in a global value chain (GVC) to improve the local producers' competitiveness. The GVC perspective was combined with considerations on upgrading, subcontracting, middlemen and informality to adequately analyse the complexity of the transactions in the chain. The data of this study are drawn from empirical field studies in Dhaka, Bangladesh and other sections of the international leather value chain during the time period of 2010 to 2014. A qualitative research approach was complemented with quantitative methods.

This text is about transformation in the framework of European integration. The Balkan countries have acquired particular importance since the 1990s due to their domestic destabilisation and have been looking for good examples and ideas to pursue development in ethnically complex and conflicting areas.

An epic account of the decades-long battle to control what has emerged as the world's most critical resource—microchip technology—with the United States and China increasingly in conflict.

You may be surprised to learn that microchips are the new oil—the scarce resource on which the modern world depends. Today, military, economic, and geopolitical power are built on a foundation of computer chips. Virtually everything—from missiles to microwaves, smartphones to the stock market—runs on chips. Until recently, America designed and built the fastest chips and maintained its lead as the #1 superpower. Now, America's edge is slipping, undermined by competitors in Taiwan, Korea, Europe, and, above all, China. Today, as Chip War reveals, China, which spends more money each year importing chips than it spends importing oil, is pouring billions into a chip-building initiative to catch up to the US. At stake is America's military superiority and economic prosperity.

Economic historian Chris Miller explains how the semiconductor came to play a critical role in modern life and how the U.S. become dominant in chip design and manufacturing and applied this technology to military systems. America's victory in the Cold War and its global military dominance stems from its ability to harness computing power more effectively than any other power. But here, too, China is catching up, with its chip-building ambitions and military modernization going hand in hand. America has let key components of the chip-building process slip out of its grasp, contributing not only to a worldwide chip shortage but also a new Cold War with a superpower adversary that is desperate to bridge the gap.

Illuminating, timely, and fascinating, Chip War shows that, to make sense of the current state of politics, economics, and technology, we must first understand the vital role played by chips.

The integration of the Central and Eastern European transition countries into the European Union is one of the most exciting economic policy issues of today. The book provides a detailed analysis of the economic effects which EU integration has on accession countries. It shows that these countries have already managed to fully remove the anti-trade bias with the EU that existed before the fall of the iron curtain. Benefits from further integration into the EU could result in particular from the fact that full membership in the European Community will increase the credibility of government policy in accession countries. The study explores in depth how these credibility effects can be quantified. The author develops a novel approach to model the transformation process within a dynamic computable general equilibrium framework. Furthermore, he estimates the potential income and welfare effects of EU integration for Poland, the largest transition country with EU candidate status.

The creation of Monetary Union marked a major step in the evolution of the European Union. Is the EU now taking the next step of deeper integration towards a fully-fledged economic government? The book seeks to answer this question by studying the evolution, execution and performance of new modes of economic policy co-ordination as potential stepping-stones towards more institutionalized forms of economic governance.

This book explores the Arctic as a rapidly evolving phenomenon in international affairs of a rising number of stakeholders. For decades, Arctic studies used to be an affair of a relatively narrow group of experts from northern countries. This time is over due to a new Chinese Arctic policy, as well as growing regional interests from South Korea, Singapore, India and Japan. Contributors reflect on new roles for the Arctic region: both as a playground for the old school nation state competition and even confrontation, and a new source for international cooperation in energy, logistics and natural sciences. Climate change, political tensions and economic competition make Arctic a hotter venue of international relations. This new Arctic fever, studied through a comparative analysis of different regional agendas, especially with a focus on the US-China-Russia triangle, represents the main subject of our book, which will be of interest to scholars of geopolitics, of climate change, and of 21st century energy economics.

The services sector --including financial services, telecommunications, transportation, tourism, and professional services --has become critical to the continued economic dynamism in the Americas. And the quality and competitiveness of this sector are essential to economic growth and development. On average, services --increasingly traded in more numerous and far-reaching ways than goods --account for nearly two-thirds of the gross domestic product of the Western Hemisphere. The importance of the sector, however, is disproportionately large in Central America and the Caribbean, where it often is the major source of employment and of foreign exchange.This timely volume is the first to review and analyze trade agreements covering the services sector in the Western Hemisphere and their relationship to the General Agreement on Trade in Services (GATS), in force since 1995 as an integral part of the World Trade Organization (WTO). Negotiations on liberalizing services trade are continuing at the multilateral, the regional or hemispheric, and the subregional levels. It is imperative to understand what is being discussed and implemented at these different levels and to articulate the linkages and relationships among the various agreements and the disciplines and obligations they contain. Services Trade in the Western Hemisphere informs the reader about these issues and more. Part 1 deals with the main issues relevant to the liberalization of services trade at the multilateral and regional levels, including improvements to the GATS architecture, the scope of regulatory reform, the relationship between the treatment of services and investment, WTO requirements that must be fulfilled by parties to an economic integration agreement, and disagreements brought to the multilateral dispute settlement process. Part 2 examines the scope, content, and liberalizing approach of subregional agreements in the Western Hemisphere, such as the North American Free Trade Agreement and those promulgated by the Andean Community, as well as several bilateral free trade agreements covering services, in particular those signed by Mexico, Chile, and Central America. Part 3 evaluates the extent of liberalization of services trade achieved to date at the multilateral and subregional levels and discusses options for improvements in the context of the ongoing Free Trade Area of the Americas negotiations.

Written by a distinguished group of Third World and American scholars, this book investigates the political, economic, cultural, and religious dynamics of the Third World. Both highly topical and extremely timely, the volume takes an interdisciplinary approach to the subject, employing analytical tools drawn from political science, history, economics, and sociology. The papers included serve to facilitate a new understanding of the complex nature of Third World nationalism, explore critical issues facing the Third World such as widespread hunger in Africa and the mounting debt crisis, and offer new perspectives on the role of religion and ethnicity in Third World politics.

In his introduction, Ali sets the context for the papers that follow. He notes that the new nations of the Third World cannot be political and economic equals of the developed nations. Thus, aware of their weaknesses, the overriding concern of Third World leaders is to preserve themselves from foreign encroachment. The 14 subsequent papers define, explain, and analyze the myriad issues and problems that today confront policy-makers in both the Third World and the developed nations, including: the economic impact of OPEC; the political and economic origins of hunger in Africa; the West and Third World Religion; open economics and repressive policies in the Third World; the influences on and effects of U.S. policies towards the Third World. Students of political science as well as policy-makers and diplomats will find "Third World At the CrossroadS" enlightening and provocative reading.

Using cases on individual countries, Economic Development in the Middle East and North Africa offers diverse theoretical and empirical evidence on a variety of issues facing policymakers, investors, and other stakeholders in the region.

The essays in this book examine the role of education and the university in economic development. It is the contention of the contributors that knowledge--ideas and skilled and educated people--are increasingly important for economic development. How to promote inclusive development--the process of development that includes every citizen in any country--has become a wide-ranging puzzle.

After framing the problems associated with globally integrated learning processes from the perspective of science and technology policies, the essayists look at the role of the university in the knowledge economy drawing examples from the United States, Japan, and Portugal. They then review the role of innovation in the industrial policies of a variety of countries, look at systems of knowledge creation and diffusion, and conclude with commentary on the roles of public planning and policy in the achievement of sustainable development. This wide-ranging examination of knowledge and development issues will be of value to scholars, researchers, and policy makers involved with economic growth and development.

Approaches economic sanctions as a form of statecraft in order to study the oft used but not well understood policy from a different perspective. The chapters examine a variety of cases involving the use of economic threats and promises. Their authors come from both academic and policy making fields, as well as different disciplinary backgrounds (political science and economics). They apply different research approaches (case studies, statistical analysis, formal economics) to increase our understanding of the sanction puzzle.

This book investigates dynamic regions in the context of greater global interaction in a world economy increasingly driven by knowledge and innovation. It offers novel empirical evidence on the underlying factors of the growth performance of these spaces. In particular, the following questions are addressed: What role is there for research, education and innovation in the development strategies of the dynamic growth regions? What are the risks and consequences of dynamic growth on patterns of world growth and development, competitiveness, inequalities, and convergence? What development strategies should be promoted at national and international levels to promote a growing and more sustainable world economy? What are the implications of the emerging new competitors for Europe's competitiveness? Using an innovative, integrated framework of analysis, the contributions in this book combine a wide array of complex theoretical and methodological approaches.

EU membership involves political and economic reforms
which influence financial markets in the new member states.
This study empirically explores and quantifies the effects of
EU accession on the risk and return of equity markets in eight
Central and Eastern European markets joining the EU in 2004.
The study also incorporates a review of how the influence of
macroeconomic variables and the level of integration with
global and European markets change as a result of
EU membership.
Based on empirical tests using weekly data over ten years,
this study concludes that EU membership results in a
significant decline in equity market volatility and a
significant increase in risk-adjusted, but not absolute,
equity returns. Furthermore, the study suggests that equity
markets in new EU member states become increasingly
influenced by global rather than local macroeconomic
factors after the EU accession and that the level of integration
with global markets increases.

Every year, every Alaskan gets paid. They receive a small dividend financed by returns on a fund created from the state's resource revenues - what the authors have called the 'Alaska model.' This timely book examines how the model can be adapted for use elsewhere, examining issues of implementation and showing that this model can be employed even in resource-poor areas in the industrialized and in the industrializing world.

This book examines fiscal policy coordination in EMU and the required adjustments to national fiscal policies by EMU member states. It presents a coherent view of German fiscal policy following the creation of the Stability and Growth Pact in 1995-97 and the implementation of the Stability Pact in 1997. The book shows that, in the process of Europeanization, national interests have had a major impact on the formation of fiscal policy coordination. It also shows how European fiscal policy coordination has affected national fiscal policies and policy implementation in EMU, and how changes in national interests have finally launched the reform process of the original Stability Pact and a new phase or Europeanization.

This proceedings book presents selected papers from the 10th international conference on the "Economies of the Balkan and Eastern European Countries in the Changing World" (EBEEC), held in Warsaw, Poland, in May 2018. In addition to discussing the latest research, it includes papers adopting a wide variety of theoretical approaches and empirical methodologies and covering a number of key areas, such as international economics, economic growth, finance and banking, insurance, healthcare, agriculture, labor and energy markets, innovation, management and marketing. In addition, the authors discuss policy instruments and best practices for the region. This book appeals to scholars and students in fields of economics and finance as well as practitioners interested in the development of the region.

Inspired by the experience of some advanced economies, a number of emerging market economies have recently adopted rules limiting the budget deficit, expenditure level, or indebtedness of the public sector, while others consider them for eventual adoption. This volume brings together policy analysts to discuss the rationale, suitability, and usefulness of fiscal policy rules in emerging market economies. Grouped under three main parts (political economy and macroeconomic setting; design issues at the national level; design issues at the subnational level), the chapters have a practical orientation, based on conceptual grounding. FABRIZIO BALASSONE Bank of Italy, Italy OLAV BJERKHOLT University of Oslo, Norway MIGUEL BRAUN University of San Andres, Colombia MARCO BUTI European Commission, International ANDRES CONESA Secretariat of Finance, Mexico FABRIZIO CORICELLI University of Siena, Italy ALLAN DRAZEN Tel Aviv University, Israel VALERIO ERCOLANI University of Siena, Italy DANIELE FRANCO Bank of Italy, Italy GABRIELE GIUDICE European Commission, Italy ILAN GOLDFAJN Central Bank of Brazil, Brazil CHRISTIAN Y. GONZALEZ Georgetown University, USA EDUARDO R. GUARDIA State of Sao Paulo

This book offers a comparative study of the Central and Eastern European and Turkish economies that analyzes the implications of EU enlargement. The contributors discuss issues related to the creation of a legal infrastructure that encourages entrepreneurial initiative, fair competition, market forces, and investor confidence. They assess the benefits of following prudent monetary and fiscal policies together with appropriate competition, trade, and foreign direct investment policies in Turkey and Central and Eastern Europe.

China's emerging financial markets reflect the usual contrast between the country's measured approach toward policy, regulatory, and market reform, and the dynamic pace of rapid economic growth and development. But they also offer unusual challenges and opportunities. In the past five years, the pace of opening and reform has accelerated sharply. Recapitalization and partial privatization of the largest banks, and the allowance of some joint venture and branch operations for foreign financial institutions, are making rapid headway in developing and expanding financial services and improving access to domestic business and households. This book provides the most extensive look available at the evolving Chinese financial system. It begins with alternative perspectives on the evolution of the financial system and the broad outlines of its prospects and potential contribution to economic growth. Three articles review broad aspects of the financial system. Franklin Allen, Jun ''QJ'' Qian, Meijun Qian, and Mengxin Zhao lead off with overviews of the banking system and performance of the equity market and other institutions.

This book provides an analysis of the global economic crisis from an Asian perspective. It examines the impacts of the policy measures adopted, the remaining challenges in rebalancing the global economy, the next steps in regional economic integration in Asia, and issues related to reform of the international financial architecture.

A challenging and informed examination of the links between the general business environment and the operations, decisions, and organizations of firms. O'Sullivan explores the links between the two 'hot' issuesDScorporate governance and innovationDS.

"Dr. Jayshree Pandya, " founder of Risk Group LLC (http: //www.riskgroupllc.com), is ahead of the curve in addressing the changing global fundamentals of the emerging Global Age.

Global Age, and its changing global fundamentals has brought complex, chaotic, and turbulent times for every nation-where failures at all levels have come to become self-evident, repetitive, destructive, and potentially hopeless in nature and uncertainty. Nations are caught off guard.

From what is visible across nations today, the promise of progress and prosperity for all nations does not seem to have materialized in a Global Age. Instead of progress and prosperity, what is visible today is crisis and catastrophe that is overpowering and overwhelming the capability of most nations to meet their promise of progress and prosperity.

Nations are in crisis. This introductory book Global Age: NGIOA @ Risk addresses the global shifts and the changing global fundamentals of Global Age, to lay out much needed foundation of an integrated NGIOA risk governance framework for the coming tomorrow. This book will make a convincing case for the far-reaching need and understanding of global risk concepts, global risk fundamentals, and risk centric integrated NGIOA governance. The integrated NGIOA risk governance approach proposed and discussed in this initiative is rational, practical, and feasible. It will help create a dynamic, vibrant, and sustainable NGIOA economy of a Global Age. This initiative is a first step towards that.

"

The world trade system is at a fork in history's road; WTO members cannot avoid Making a choice. / Take the politically expedient path by putting Doha talks on hold, or / Take the leadership path of engaging constructively and creatively in breaking the deadlock. Published ahead of the 29 April 2011 meeting of WTO members in Geneva, this book argues that if the current deadlock - mainly between the US and China - cannot be broken in 2011, no resolution is likely before 2020. US Congressional politics will be much rougher in 2013 - scared by divisive debates over spending and taxes - and the new Chinese government can hardly afford to start off with major tariff concessions to the US. Think of 2013 as 2011 with less goodwill Internationally, more poisonous politics inside the US, and a Chinese leadership that must prove its toughness. Breaking the deadlock would require an expanded negotiating agenda, but this would add years to the talks. The false promise that it would be harmless to allow Doha to languish for years is deeply dangerous, at best. The authors in this volume - trade experts from across the world - identify the perils of allowing Doha to flounder, and the hard choices governments must make to break the deadlock.