The Northeast Asian security environment is closely linked to Korea's growth perspectives for the future. The spectacular rise of the South Korean economy in the past half century, also known as "Miracle on the Han River," has been duly highlighted as one of the most successful cases of economic development worldwide. However, among the factors curbing South Korea's growth perspectives has been, from the very beginning of its rise, the coexistence of the difficult neighbour to the North, Democratic People's Republic of Korea. While in the cold war this coexistence has been taken as inevitable, after the end of the cold war there were hopes to overcome this obstacle to further growth either through collapse or enhanced cooperation with the North, neither of which became reality. North Korea's unprecedented aggressiveness and development of long-range ballistic missiles and nuclear devices, made this threat truly an international question with multilateral talks coming into existence as ad-hoc measures to cope with the nuclear crisis. It was then that the idea of a Northeast Asian Security Community was born. The contributions in this book discuss how a peaceful solution of the security problems could not only enhance stability of Korea's economy and reduce the defense burden considerably (the so-called peace dividend), but would facilitate regional investments safer and regional solutions for common economic problems. When discussing the possibilities of a security framework or, in an institutionalized form, security community, in Northeast Asia, the authors in this volume are realistic as to not fall into the trap of wishful thinking, which so often has characterized approaches to North Korea resulting in disappointment. The past two years again saw the rising of tensions in Northeast Asia and the masterful way in which even an impoverished and isolated country can play its cards. While it seems a new ice age between the two Koreas is possible, nevertheless and maybe even more than ever the search for a stable security framework for Northeast Asia as a precondition for peaceful economic cooperation and development will go on. The chapters in this volume contribute to the ongoing debate to secure peace and development in Northeast Asia, making this book of interest to both academics and policy-makers alike.

This book analyzes one of the most important and difficult macroeconomic questions at the beginning of the 21st century: how to overcome the growing threat to economic progress and political stability posed by negative aspects of globalization. Economic problems are becoming increasingly international, demanding action at the supranational level, yet the only effective institutional framework for dealing with them remains national. The essays make a valuable and timely contribution to a highly topical debate by integrating micro and macroeconomic analysis, covering a wide range of specific institutional and policy issues drawn from the experience of many countries - all from the perspective of an academic economist with an unusually intimate knowledge of decisionmaking at the highest level.

In 2008, the economic relationship between the United States and China almost collapsed due to a crisis at two American mortgage corporations, Fannie Mae and Freddie Mac. This book explains how that crisis came about, and analyzes the consequences and implications.

With frequent discoveries of energy resources in remote and undeveloped areas, the importance of transnational oil and gas pipelines is set to grow ever more prominent. This study dissects the diplomacy involved in cross-border energy transportation. Omonbude presents a unique analysis of the shifts in bargaining powers, and the increasingly powerful role played by the transit country in pipeline agreements. His research offers fundamental insights into the possibility of reward mechanisms for transit countries, which would significantly reduce the possibility of pipeline disruptions during operation.

The co-ordination of regulations in Europe is a process characterized by a huge amount of information in different forms (decisions, regulations, directives, recommendations and opinions), at various stages of consideration. While current developments are debated in the influential media, no coherent overview is offered of the European Community co-ordination efforts as a whole, nor of relationships with other international regulations produced, for example, in the framework of the Bank for International Settlements (BIS). Such an overview is essential in order to gain a proper understanding of the consequences for the various countries. "Financial Integration in Europe" provides an overview of the core of European and BIS regulations insofar as these have been published in the "Official Journal of the European Communities (OJEC)" and in official BIS documents up to April 1, 1992. This publication covers the liberalization of capital movements in Europe and co-ordination efforts on credit institutions, investment firms, the securities market, undertakings for collective investment in transferable securities, insurance companies and pension funds.

As China's international political role grows, its relations with states outside of its traditional sphere of interests is evolving. This is certainly the case of the Gulf monarchies of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, which together comprise the Gulf Cooperation Council (GCC). China's levels of interdependence with these states has increased dramatically in recent years, spanning a wide range of interests. What motivating factors explain the Chinese leadership's decision to forge closer ties to the GCC? Why have GCC leaders developed closer ties to China, and what kind of role can China be expected to play in the region as levels of interdependence intensify? This book uses neoclassical realism to analyse the evolution of Sino-GCC relations. Examining the pressures that shaped China's policy toward the Gulf monarchies, it demonstrates that systemic considerations have been predominant since 1949, yet domestic political considerations were also always an important consideration. Relations are examined across diplomatic and political interactions, trade and investment, infrastructure and construction projects, people-to-people exchanges, and military and security cooperation. This book will appeal to scholars in the fields of International Relations and International Political Economy, as well as area specialists on China, the Gulf, the Gulf Monarchies, and those working on foreign policy issues.

This book presents important and original studies of international trade and investment in relation to regional economic integration, with particular reference to the experiences of Europe and East Asia. The distinguished contributors illustrate and explain how the location decisions of firms, international trade and capital flows can form, stimulate and shape economic regions in the global economy. The authors address several important themes including: * the factors which determine the location choices of multinational firms * location decisions of multinational firms in relation to their global performance * the growing importance of East Asia as a recipient zone for foreign direct investment * the impact of foreign direct investment on Asian host countries * the role of trade and investment in regional economic integration. Economic Integration and Multinational Investment Behaviour will be welcomed by researchers with an interest in economic geography, international economics and business, European and East Asian studies, and globalization.

A close analysis of the framework of existing governance and the existing jurisdictional arrangements for shipping and ports reveals that while policy-making is characterized by national considerations through flags, institutional representation at all jurisdictions and the inviolability of the state, the commercial, financial, legal and operational environment of the sector is almost wholly global. This governance mismatch means that in practice the maritime industry can avoid policies which it dislikes by trading nations off against one another, while enjoying the freedoms and benefits of a globalized economy. A Post-modern interpretation of this globalized society prompts suggestions for change in maritime policy-making so that the governance of the sector better matches more closely the environment in which shipping and ports operate. Maritime Governance and Policy-Making is a controversial commentary on the record of policy-making in the maritime sector and assesses whether the reason for continued policy failure rests with the inadequate governance of the sector. Maritime Governance and Policy-Making addresses fundamental questions of governance, jurisdiction and policy and applies them to the maritime sector. This makes it of much more interest to a much wider audience - including students, researchers, government officials, and those with industrial and commercial interests in the shipping and ports areas - and also of more value as it places the specific maritime issues into their wider context. Maritime Governance and Policy-Making addresses fundamental questions of governance, jurisdiction and policy and applies them to the maritime sector. This makes it of much more interest to a much wider audience - including students, researchers, government officials, and those with industrial and commercial interests in the shipping and ports areas - and also of more value as it places the specific maritime issues into their wider context.

In an era of great changes and much uncertainty, such as the revival of an active Russia, buoyed by increasing energy wealth, a U.S. mired in Iraq and Afghanistan, rising China and India, as well as Japan moving towards normalization, ASEAN needs to closely monitor great power trends and thinking. This timely and topical book provides insights into various issues high on the regional agenda. The rise of China is closely observed in three chapters in this book. On Russia-ASEAN relations, three authors offer their perspectives. Energy issues are scrutinized. The ongoing efforts to build an East Asian Community are analysed. At a time when Russia has an active profile in Southeast Asia with its arms sales to Indonesia and its nuclear technology assistance to Myanmar, this book offers useful and authoritative discourses on its relations with ASEAN, building on an earlier volume published by ISEAS.

This volume explores a wide range of case studies, analyses, histories, and polemics on the fate of post-socialist Europe- and why that matters to readers today. Nearly 30 years after the fall of the Berlin Wall, the post-socialist economies of the former East remain adrift, buffeted by the international financial crisis, the Ukraine crisis, and the ongoing instability in the European Union. This new book brings together a diverse range of scholars in offering a comprehensive look at the struggles faced by policymakers, economists and business people across the former East, and the ways that they responded to crisis. This volume also will be of great value to policymakers, academics, historians, and economists seeking to understand possible influence of China's One Belt One Road policy on Eastern Europe and Russia.

This volume provides an intensive review of the economic competitiveness of Singapore's economy. It identifies and analyses the strategies which will allow the economy to retain its competitive advantage in the years ahead in an increasingly globalised economic environment, considerably liberalised international trading and investment climate, and with regional economies challenging the country's competitive edge as a regional transportation hub, international financial centre and a primary regional centre for technology and education. Dialogues and interviews with managers and CEOs of industries in the private and public sectors are also included.

This volume provides an intensive review of the economic competitiveness of Singapore's economy. It identifies and analyses the strategies which will allow the economy to retain its competitive advantage in the years ahead in an increasingly globalised economic environment, considerably liberalised international trading and investment climate, and with regional economies challenging the country's competitive edge as a regional transportation hub, international financial centre and a primary regional centre for technology and education. Dialogues and interviews with managers and CEOs of industries in the private and public sectors are also included.

Volume 2 in the POLITICAL ECONOMY OF THE MIDDLE EAST series, a collection of 18 articles which discuss international relations of the Middle East in the latter part of the twentieth century. It includes issues such as trade, production, imports and exports, foreign investment and labour migration.

This book comprehensively investigates the challenges to Myanmar's access to the global market. Myanmar is a late entrant in the global trade and investment scenario after years of isolation. However, it has large untapped potentials for trade and investment in minerals, agro and forest based industries, other labour intensive industries, services like tourism, IT, etc. Different chapters of the book explore the implication of democratic transition of Myanmar, the progress of Myanmar's industry and infrastructure, its international linkages and feasible options for integrating more in regional economic groups and also analyses how far Myanmar could exploit the global value chain. Although a number of reports have discussed sector specific prospects of Myanmar, this book is an authoritative work on these aspects for policy planners, academicians, researchers as well as potential investors.

Addressing an under-studied aspect of U.S. foreign policy towards sub-Saharan Africa, Hendrickson provides a critical historical analysis of institutions designed to promote private investment in the region. She draws attention to the interaction between strategic factors, domestic interests, and the ideas used to achieve consensus on policy.

The common roots of success and failure in economic growth and development lie in the systemic governance and fragmentation of institutional complementarities, respectively, but not in the unilateral adaptation of market-led or state-led models. To substantiate this argument, Akan utilizes case countries from the United States, South Korea, and Turkey-an advanced developed, a recently developed, and a developing country. Akan provides a simple framework for understanding two points that go beyond ideological obsession. The first is how a model of G&D works and evolves; with its economic, financial, industrial, and political dynamics intertwining. The second is why a market-led or state-led model succeeds and fails in both developed and developing countries.

This book addresses the issues facing small countries in an integrated, globalized world. The contributors acknowledge that the new global system does not represent twilight for small countries, and demonstrate that small countries may even gain sovereignty in areas previously closed to them.

Khan presents a new theory of financial crises in the age of globalization from an evolutionary perspective and suggests policies that may be necessary for averting or managing new financial crises. Starting with the Asian financial crises, he identifies new types of financial crises that result from a combination of liberalization, weak domestic institutions for economic governance and a chaotic global market system without global governance institutions. Suggested solutions involve building new institutions for global and domestic governance and domestic and international policy reforms.

The Future BRICS provides in depth quantitative and qualitative questions and answers about the future of the BRICS Forum as a synergistic economic alliance and is a valuable resource for anyone interested in the ongoing international debate about the economic future and sustainability of the emerging markets in general.

The global financial and economic crisis has brought about many effects that are still difficult to interpret univocally. This book studies the consequences of the crisis on Europe by examining the effects on the European institutional setup, governance and architecture and by studying in detail the different member countries.

The world economy is at a cross road: it can either widen and deepen international integration, within and between different areas, or be tempted by neo-protectionism. Which road should the international economy take? Which way will it take? The need to reform the present international monetary system has been almost continuously discussed since the collapse of the Bretton Woods System in August 1971, and even earlier, and it has found renewed interest since the Mexican financial crisis in early 1995. Despite the successful completion of the Uruguay Round in December 1993, many international trade problems remain: many sectors were not included in the agreement, antidumping action and safeguards are still possible, and many trade problems of developing and former communist countries have not been fully addressed. This book analyses this situation by first focusing on the problem of international financial stability and the relationship between national economic policies. It then focuses on the European monetary union within the context of the international monetary system. Finally, the development of international trade is examined within an endogenous growth framework.

This timely book points the way towards a new positive regulatory framework for international investment following the failure of the Multilateral Agreement on Investment (MAI). It examines the flaws in free-market strategies underpinning the recent phase of globalization, in particular drawing out the lessons from the MAI, which was suspended in October 1998. The authors explore an alternative based on a positive regulatory framework for international business aimed at maximizing the positive contribution to development of foreign investment and minimizing its negative social and environmental impacts. The contributors include academics, researchers for non-governmental organizations, and business and trade-union representatives, writing from a combination of economic, legal and political perspectives. The book combines academic analysis with grass-roots and practical experience, and suggests concrete policy proposals.