The authors consider how the Asia-Pacific economies have developed since the financial crises and highlight two inter-related themes: the effect of global forces on the national Asian economies and the different development paths of these economies as they jointly enter this new phase. Questions raised by the book include:
* is globalization a threat to development and prosperity in the Asia-Pacific or did globalization rather facilitate and accelerate the pace of industrialization among late industrializers in the region?
* is there a single Asia-Pacific development model or did the crisis show this to be false?
* did the financial crisis reveal structural weaknesses in an Asia-Pacific state-led model or was state leadership already in demise?
Development and Structural Change in Asia-Pacific provides a useful and relevant account of how the global economy has led to structural changes within Asian economies

eBook available with sample pages: 0203609026

This book, based on in-depth field research at the local level, assesses the different factors that are contributing to the transition to a market economy and the growth of networks in rural China. It analyses the different socio-economic actors - peasant households, out-migrants, family businesses and peasant entrepreneurs, uses the key concept of markets as a nexus of social networks, and identifies three different kinds of 'social capital' - human capital, political capital/status, and network capital.
This book demonstrates the importance of socio-political networks and highlights significant regional differences.

eBook available with sample pages: 0203221192

Cambodia underwent a triple transition in the 1990s: from war to peace, from communism to electoral democracy, and from command economy to free market. This book addresses the political economy of these transitions, examining how the much publicised international intervention to bring peace and democracy to Cambodia was subverted by the poverty of the Cambodian economy and by the state's manipulation of the move to the free market. This analysis of the material basis of obstacles to Cambodia's democratisation suggests that the long-established theoretical link between economy and democracy stands, even in the face of new strategies of international democracy promotion.

eBook available with sample pages: 0203221753

A dive into the origins, management, and uses and misuses of sovereign debt through the ages. Public debts have exploded to levels unprecedented in modern history as governments responded to the Covid-19 pandemic and ensuing economic crisis. Their dramatic rise has prompted apocalyptic warnings about the dangers of heavy debts-about the drag they will place on economic growth and the burden they represent for future generations. In Defense of Public Debt offers a sharp rejoinder to this view, marshaling the entire history of state-issued public debt to demonstrate its usefulness. Authors Barry Eichengreen, Asmaa El-Ganainy, Rui Esteves, and Kris James Mitchener argue that the ability of governments to issue debt has played a critical role in addressing emergencies-from wars and pandemics to economic and financial crises, as well as in funding essential public goods and services such as transportation, education, and healthcare. In these ways, the capacity to issue debt has been integral to state building and state survival. Transactions in public debt securities have also contributed to the development of private financial markets and, through this channel, to modern economic growth. None of this is to deny that debt problems, debt crises, and debt defaults occur. But these dramatic events, which attract much attention, are not the entire story. In Defense of Public Debt redresses the balance. The authors develop their arguments historically, recounting two millennia of public debt experience. They deploy a comprehensive database to identify the factors behind rising public debts and the circumstances under which high debts are successfully stabilized and brought down. Finally, they bring the story up to date, describing the role of public debt in managing the Covid-19 pandemic and recession, suggesting a way forward once governments-now more heavily indebted than before-finally emerge from the crisis.

What brought about a financial crisis in the "miracle" economies of Asia? What went wrong with financial reform in Asia? What can the developing countries of the world learn from the reform experiences in Asia?
Financial Liberalization and the Economic Crisis in Asia analyses how financial liberalization was undertaken in eight Asian countries and how it might be linked to the subsequent crises. The country studies focus on China, India, Indonesia, Japan, Malaysia, the Philippines, South Korea and Thailand.

eBook available with sample pages: 0203218159

The revised edition of Southeast Asia provides a grounded account of how people in the region are responding to - and being affected by - the changes sweeping through the region. The 'growth' or 'miracle' economies of Southeast Asia, after having achieved one of the most remarkable transformations in recent history, suffered a sharp downturn in fortunes with the Asian economic crisis of 1997. At the same time, the transitional economies of Indochina have undergone a deep process of market reform. This book unpicks the 'miracle' and the 'crisis' and elaborates on the process of reform.
Southeast Asia blends conceptual interpretations of the regions growth (and fall from growth) with case study material drawn from across the region. It uses a wide range of social science literature and presents the complex arguments deployed in an accessible manner. The book challenges our understanding of patterns of change in rural and urban areas of the region, and unpicks the myriad ways in which individuals and households construct their livelihoods. Chapter summaries and annotated further reading are included.

Contents:
Part I Southeast Asian Development: The conceptual landscape of dissent 1. Chasing after the wind: Of miracles and mirages 2. Thinking alternatively about development in Southeast Asian Part II Marginal People and Marginal Lives: The 'excluded' 3. The geography of exclusion: The view from above 4. The experience of exclusion Part III Change and Interactions in the Rural and Urban Worlds 5. New rural worlds: More than soil 6. Factory worlds 7. Rural-urban interactions Part IV Chasing the Wind: Modernization and development in Southeast Asia 8. Chasing the wind

The discourse of Confucian Capitalism has been crucial in shaping our understanding of the brilliant economic successes of the Chinese diaspora all over the world. From this perspective, hard work, family values, and communal cohesion, as well as business practices based on sentiment, trust, and social networks, are the legendary means of explaining the wealth and commercial talent of these remarkable people. The book examines the subject of Chinese business' by exposing the enduring myth about the determining effects of these values and practices supposedly derived from Confucianism. Such myth relies on an ahistorical and essentialised notion of Chinese Culture', and brings into focus three sites of controversy: the economically driven Chinese subject, work-place relations characterised by consensus and cultural sharing, and an operating ethos of collectivist, pre-capitalist sociality.
In its interrogation of the discourse of Confucian capitalism, it is the aim of this book to arrive at a critically informed and socially realistic understanding of Chinese business. The author combines abstract analysis with examples from anthropological fieldwork among Chinese traders in Sarawak, East Malaysia. By anchoring theoretical discussion to real case-studies, the multi-disciplinary approach of this book offers a useful insight into Chinese business activities, and contributes to current debates in cultural studies, economic anthropology, the economic performance of overseas Chinese, and neo-Confucian societies more generally.

With a large and growing economy and a leadership dedicated both to domestic reform and the further integration into international society and the world economy, China is facing and posing important challenges at the local, national, regional and wider international level. This book analyses the developmental trajectories of China up to and into the new millennium. Focusing on the substance and underlying forces of change, it considers issues and developments in monetary policy, foreign exchange policy, the trade regime, state-owned enterprise reform, regional economic development as well as social changes, particularly those related to social welfare reform and the Internet. The book also covers economic and political developments in 'Greater China', particularly the prospects of reunification after Taiwan's presidential elections, and analyses the core issues and challenges in China's contemporary relations with the USA, Japan, South-East Asia and Europe.

This book analyzes issues related to economic challenges for Japan's regional revitalization. Japan's responses to such challenges and to the problem of an aging population are of deep interest to the nations outside of Japan. This book brings together 19 articles contributed by Japan's leading scholars, originally prepared for an online policy information portal, SPACE NIRA launched by the Nippon Institute for Research Advancement (NIRA) with Dr. Tatsuo Hatta, President of the Asian Growth Research Institute, as its General Editor. This book is a significant and useful reference for all scholars, students, and individuals with an interest in current policy issues in Japan.

Globalization is theorized in this book as an emerging new stage of capitalism. Robert Went takes us on a journey from the historical roots of globalization through to its relevance in the modern day.
The Enigma of Globalization is a timely addition to an important debate and covers such themes as:
* International trade
* Free trade and international movement of capital
* The role of the world economy
This accessible and intriguing book is a must, not only for students and academics working in the field, but will also prove an interesting read for all those with a general interest in the modern global political economy.

eBook available with sample pages: 0203217578

Business is a necessary evil that the moral leaders of mankind have tolerated but never condoned. At no time did they view with favor the pursuit of material gain. The Old Testament prophets proclaimed against the rapacity of the rich. Jesus scorned the money lenders. Luther had no kind words to say to the wealthy, nor did Calvin indulge the new bourgeoisie." Thus begins this first book-length study of social philosopher and political economist Adam Smith's "The Wealth of Nations."
Adam Smith (1723-1790) was a Scottish-born thinker who served as both professor of logic and professor of moral philosophy at Glasgow University. While the publication of his philosophic treatise "The Theory of Moral Sentiments" at age thirty-six gave Smith fame, "The Wealth of Nations," published in 1776, has established his lasting reputation. Recognized in its own day as an important and compassionate examination of economics, the book was praised by Thomas Jefferson for its contribution to the field of economics. Smith wrote "The Wealth of Nations" for several reasons. He was disgusted with the business methods practiced by merchants and manufacturers, and he was concerned with improving the well-being of society.
Reflecting his own concerns about the contribution economics could make to the betterment of society, Eli Ginzberg published this study of Smith's humanitarian views on commerce, industrialism, and labor. Written for his doctoral degree at Columbia University, and published as "The House of Adam Smith," the book is divided into two parts. The first part reconstructs and interprets Smith's classic "The Wealth of Nations," while the second part examines Smith as the patron saint and prophet of the successes of nineteenth-century capitalism.
"Adam Smith and the Founding of Market of Economics" is a fascinating study, and contributes significantly to our understanding of capitalism, free trade, the division of management and labor, and the history of world economics in the nineteenth century. It republication, with a new introduction by the author, will be valued by economists, political historians, students of philosophy, and policymakers.
Eli Ginzberg is A. Barton Hepburn Professor Emeritus at the Graduate School of Business and director of the Eisenhower Center for the Conservation of Human Resources at Columbia University. His work in social policy, health care, human resources, and the special needs of the poor, young and aged place Ginzberg in a special category: activist scholar rather than academic-turned-activist. He has been the subject of several "festschriften," most recently "Eli Ginzberg: The Economist as a Public Intellectual," and he is the author of numerous books, including several from the same period as this book, "New Deal Days: 1933-1934" and "A World Without Work: The Study of the Welsh Miners," both published by Transaction.

Labour reform is only one component of the larger process of reforming economy and society experienced by China during the late 1970s, 80s and 90s, and it is probably that part of this process where paradoxes emerge most clearly. This book suggests a two-level analysis: labour theory and consequent policy- and law-making emerging from a rapidly changing ideological environment from the beginning of Deng's Reform clash with the social and practical contradictions of policy implementation that emerges in the second part of the book, together with an increasing "resistance" by society vis a vis the state's overall policies as well as with an increasing - functional and tolerated - "informalization" of labour practices. The book borrows historical analytical tools in order to shed light on how policy-making takes place in contemporary China: an experimental and self-fulfilling process where decisions are taken only long after being introduced into daily practice. It should be of interest to students of contemporary Chinese society and help in the understanding of 25 years of Chinese labour reform.

Our global ecological crisis demands that we question the rationality of the culture that has caused it: western modernity's free market capitalism. Philip Goodchild develops arguments from Nietzsche, Adorno, Horkheimer and Marx, to suggest that our love of Western modernity is an expression of a piety in which capitalism becomes a global religion, in practice, if not always in belief. This book presents a philosophical alternative that demands attention from philosophers, critical theorists, philosophers of religion, theologians and those in ecological politics.

This is a groundbreaking economic analysis of entrepreneurship and the development process for innovation. The author strives to distinguish the role of the capitalist from that of an entrepreneur, and to show how the actions of the entrepreneur impact new employment, economic growth, and advancements in the overall standard of living.

The book provides in-depth discussion of several critical concepts: the economic development of a product; Schumpeter's "temporary monopoly control"; the economic bounds of product and process innovations; and changing production functions. It also develops and integrates an analysis of how innovation-induced modifications in either products or processes affect both short-ran and long-ran average costs in production. As a special feature, each chapter includes an interview with a successful entrepreneur, and suggested readings are also provided.

This is a groundbreaking economic analysis of entrepreneurship and the development process for innovation. The author strives to distinguish the role of the capitalist from that of an entrepreneur, and to show how the actions of the entrepreneur impact new employment, economic growth, and advancements in the overall standard of living.

The book provides in-depth discussion of several critical concepts: the economic development of a product; Schumpeter's "temporary monopoly control"; the economic bounds of product and process innovations; and changing production functions. It also develops and integrates an analysis of how innovation-induced modifications in either products or processes affect both short-ran and long-ran average costs in production. As a special feature, each chapter includes an interview with a successful entrepreneur, and suggested readings are also provided.

This book focuses on the recent political and economic events in the former Yugoslavia.
The author presents a clear, detailed and accessible breakdown of the developments in: Bosnia-Hercegovina, Croatia, the Former Yugoslav Republic of Macedonia, Slovenia and the Federal Republic of Yugoslavia (Serbia and Montenegro).
The role of the West in the more unstable countries of the Former Yugoslavia has been reassessed in the light of the terrorist attacks on the United States and the fall of Afghanistan. The involvement of the US, in particular, in countries affected by ethnic strife has been brought under scrutiny, as has the role of international military and civilian involvement in maintaining peace and rebuilding economies and political structures. This book contributes to these debates by providing a unique level of coverage of economic and political developments in former Yugoslav countries. It will provide an invaluable source of reference for all those interested in transitional and developing countries.

eBook available with sample pages: 0203216954

Our global ecological crisis demands that we question the rationality of the culture that has caused it: western modernity's free market capitalism. Philip Goodchild develops arguments from Nietzsche, Adorno, Horkheimer and Marx, to suggest that our love of Western modernity is an expression of a piety in which capitalism becomes a global religion, in practice, if not always in belief. This book presents a philosophical alternative that demands attention from philosophers, critical theorists, philosophers of religion, theologians and those in ecological politics.

'Makes a substantial contribution to the practical, effective analysis of climate change mitigation options in developing countries.' Development And Cooperation 'The book is an excellent exercise and a good source of detailed information, and a basis for further discussions. Any person interested in this major environmental problem should read it.' International Journal of Environment and Pollution 'Markandya and Halsnaes' collection is thoughtfully put together and can be recommended to all the practitioners in the fields of climate change and sustainable development.' The Journal of Energy Literature This text argues that the policies pursued by developing countries will be crucial in determining the progress of climate change. Many are industrializing rapidly and the largest, particularly China and India, could have an impact at least as significant as that of the already industrialized economies - the reason given by President Bush for taking the US out of the Kyoto Protocol. The future of sustainable development in large measure depends on developing countries. This book develops a pragmatic framework for evaluating the climate change options faced by each developing country, depending on their individual circumstances. It assesses present methods, suggests how these might be improved, and proposes ways in which social and developmental aspects can be taken into account. Its discussion of the issues and the methods presented contribute to the practical analysis of climate change mitigation options in developing countries. The book should be useful to professionals, governments, international organizations and environmental groups working on climate change issues; as well as researchers, academics and students in economics, environmental and development studies and international affairs.

'Makes a substantial contribution to the practical, effective analysis of climate change mitigation options in developing countries.' Development And Cooperation 'The book is an excellent exercise and a good source of detailed information, and a basis for further discussions. Any person interested in this major environmental problem should read it.' International Journal of Environment and Pollution 'Markandya and Halsnaes' collection is thoughtfully put together and can be recommended to all the practitioners in the fields of climate change and sustainable development.' The Journal of Energy Literature This text argues that the policies pursued by developing countries will be crucial in determining the progress of climate change. Many are industrializing rapidly and the largest, particularly China and India, could have an impact at least as significant as that of the already industrialized economies - the reason given by President Bush for taking the US out of the Kyoto Protocol. The future of sustainable development in large measure depends on developing countries. This book develops a pragmatic framework for evaluating the climate change options faced by each developing country, depending on their individual circumstances. It assesses present methods, suggests how these might be improved, and proposes ways in which social and developmental aspects can be taken into account. Its discussion of the issues and the methods presented contribute to the practical analysis of climate change mitigation options in developing countries. The book should be useful to professionals, governments, international organizations and environmental groups working on climate change issues; as well as researchers, academics and students in economics, environmental and development studies and international affairs.

Contents:
Introduction
1. The Legacy of the Communist Past and its Impact on Foreign Trade in Transition
2. Foreign Trade Adjustment in Early Transition
3. Successes of Trade Reorientation and Trade Expansion: An Enterprise-Level Approach
4. Institutions and Foreign Trade Reorientation: How Much Impact upon Performance?
5. Post-Transition Foreign Trade Problems and Prospects: The Economics and Political Economy of Accession

With the collapse of communism and the accelerated trend of globalization, a new stage of capitalism has arrived. Protest actions that occurred in Seattle and Washington as well as in Prague and Genoa, clearly show that the legitimacy of capitalism is being questioned in many respects. Surveys in Eastern and Central Europe show that a considerable part of the population is not able to accept capitalism as an economic system. This volume assesses the ethical basis of capitalism in an effort to assess its future in the twenty-first century. Contributors range from one of the world's most successful capitalists and philanthropists to the founder of INSEAD, Europe's leading business school, to noted economists, philosophers, cultural historians, and business ethicists. Chapter 1, "Against Market Fundamentalism: 'The Capitalist Threat' Reconsidered," by George Soros, Olivier Giscard d'Estaing and others, is the edited and extended version of the public debate with Soros on his influential paper "The Capitalist Threat." Chapter 2, "Ethics of Capitalism," by Peter Koslowski, follows the thesis that capitalism constitutes a necessary component of a free society. Chapter 3, "Misunderstood and Abused Liberalism," by Lubomir Mlcoch, focuses on the problems of Czech-style capitalism. Chapter 4, "Humanizing the Economy" by Stefano Zamagni, investigates the role of civil society in relation to the market and the state. Chapter 5, "The Possibility of Stakeholder Capitalism," by Edward R. Freeman, argues that stakeholder relationships are a key to understanding the functioning of business in today's world. Chapter 6, "Effectiveness, Efficiency, and Ethicality in Business and Management," by Wojciech W. Gasparski, introduces the praxiology tradition in the debate about ethical aspects of capitalism. Chapter 7, "Responsibility and Profit Making," by Lszl3/4 Zsolnai, explores the conditions for ethical and social acceptability of profit making. Collectively, this volume addresses the ethical problems of the capitalist economy with special reference to globalization, and suggests that business ethics and the future of capitalism are strongly connected. It will be of particular interest to business people, economists, policy makers, social scientists and students of philosophy and ethics. Lszl3/4 Zsolnai is director of the Business Ethics Center at Budapest University of Economic Sciences and is Szuchenyi Distinguished Professor in Ethics and Economics, awarded by the Hungarian Ministry of Education. Wojciech W. Gasparski is professor at the Insititute of Philosophy and Sociology, the Polish Academy of Sciences, and editor-in-chief of the Praxiology series.

Following on from Jeffries' 2001 Economies in Transition: A Guide to China, Cuba, Mongolia, North Korea and Vietnam at the Turn of the Twenty-First Century, this comprehensive survey of economic and political change focuses on the countries of Eastern Europe. Jeffries also discusses the general issues involved in economic transition, including `big bang'/'shock therapy', gradualism, China as an economic model and various schemes of privatization. The book examines Albania, Bulgaria, the Czech Republic, Hungary, Poland, Romania and Slovakia. Analysing major political and economic events in these countries from the mid-1990s to the present.

eBook available with sample pages: 0203469100

This book investigates recent changes in Japan's financial system and looks at the implications for Japan's particularistic model of political economy. Drawing on the latest theoretical research, it seeks to determine how Japan's experience resembles patterns which many scholars in the West have associated with financial globalization as a powerful force for conveyance.
The book sets out the background and examines the progression of financial deregulation in Japan, culminating in the Big Bang programme of financial reform set in motion in November 1996. It analyses developments in the financial sector to gauge the extent to which Japanese financial institutions are falling into line with emerging norms of organization and strategic management. It also examines the implications for the corporate and household sectors stemming from the government and financial sectors' partial embrace of financial globalization.

This major intellectual exploration seeks to deepen our understanding of the way in which modern capitalism works. The author argues, in particular, that it has always rested in part on the unremunerated labour of women, the non-sustainable extraction of natural resources and the racist exploitation of the non-European periphery. Robert Biel explains and illuminates how it has integrated the South into a Western-dominated system of exploitation and prevented it from making the promised transition from marginality on the periphery to prosperity at the centre. And the racist implications of this. He also explores two fundamental questions. Are there really any indications that the global economy is slowly entering a long-term structural crisis? And would any significant disruption open up opportunities for new popular movements to fundamentally challenge it? Robert Biel's work constitutes a major revitalisation of the tools of Marxism and Dependency Theory. In addition to scholars of political economy and development, it will interest activists seeking to reconstitute left politics in the age of globalisation.