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Books > Business & Economics > Finance & accounting > Finance > Public finance > General

The Public Wealth of Nations - How Management of Public Assets Can Boost or Bust Economic Growth (Hardcover): Dag Detter,... The Public Wealth of Nations - How Management of Public Assets Can Boost or Bust Economic Growth (Hardcover)
Dag Detter, Stefan Folster
R528 Discovery Miles 5 280 Shipped within 7 - 12 working days

We have spent the last three decades engaged in a pointless and irrelevant debate about the relative merits of privatization or nationalization. We have been arguing about the wrong thing while sitting on a goldmine of assets. Don't worry about who owns those assets, worry about whether they are managed effectively. Why does this matter? Because despite the Thatcher/ Reagan economic revolution, the largest pool of wealth in the world - a global total that is much larger than the world's total pensions savings, and ten times the total of all the sovereign wealth funds on the planet - is still comprised of commercial assets that are held in public ownership. If professionally managed, they could generate an annual yield of 2.7 trillion dollars, more than current global spending on infrastructure: transport, power, water, and communications. Based on both economic research and hands-on experience from many countries, the authors argue that publicly owned commercial assets need to be taken out of the direct and distorting control of politicians and placed under professional management in a `National Wealth Fund' or its local government equivalent. Such a move would trigger much-needed structural reforms in national economies, thus resurrect strained government finances, bolster ailing economic growth, and improve the fabric of democratic institutions. This radical, reforming book was named one of the "Books of the Year".by both the FT and The Economist.

The Curse of Cash - How Large-Denomination Bills Aid Crime and Tax Evasion and Constrain Monetary Policy (Paperback): Kenneth S... The Curse of Cash - How Large-Denomination Bills Aid Crime and Tax Evasion and Constrain Monetary Policy (Paperback)
Kenneth S Rogoff; Afterword by Kenneth S Rogoff
R377 R263 Discovery Miles 2 630 Save R114 (30%) Shipped within 7 - 12 working days

From the New York Times bestselling author of This Time Is Different, "a fascinating and important book" (Ben Bernanke) about phasing out most paper money to fight crime and tax evasion--and to battle financial crises by tapping the power of negative interest rates The world is drowning in cash--and it's making us poorer and less safe. In The Curse of Cash, Kenneth Rogoff, one of the world's leading economists, makes a persuasive and fascinating case for an idea that until recently would have seemed outlandish: getting rid of most paper money. Even as people in advanced economies are using less paper money, there is more cash in circulation--a record $1.4 trillion in U.S. dollars alone, or $4,200 for every American, mostly in $100 bills. And the United States is hardly exceptional. So what is all that cash being used for? The answer is simple: a large part is feeding tax evasion, corruption, terrorism, the drug trade, human trafficking, and the rest of a massive global underground economy. As Rogoff shows, paper money can also cripple monetary policy. In the aftermath of the recent financial crisis, central banks have been unable to stimulate growth and inflation by cutting interest rates significantly below zero for fear that it would drive investors to abandon treasury bills and stockpile cash. This constraint has paralyzed monetary policy in virtually every advanced economy, and is likely to be a recurring problem in the future. The Curse of Cash offers a plan for phasing out most paper money--while leaving small-denomination bills and coins in circulation indefinitely--and addresses the issues the transition will pose, ranging from fears about privacy and price stability to the need to provide subsidized debit cards for the poor. While phasing out the bulk of paper money will hardly solve the world's problems, it would be a significant step toward addressing a surprising number of very big ones. Provocative, engaging, and backed by compelling original arguments and evidence, The Curse of Cash is certain to spark widespread debate.

Structuring Public-Private Research Partnerships for Success - Empowering University Partners (Paperback): Gordon Rausser,... Structuring Public-Private Research Partnerships for Success - Empowering University Partners (Paperback)
Gordon Rausser, Holly Amedon, Reid Stevens
R676 Discovery Miles 6 760 Shipped within 7 - 12 working days

University research has played an essential role in economic growth by generating public good outputs that have not readily lent themselves to private market development. As funding for universities and governmental research units has declined, these institutions have turned to the private sector to augment their research and development budgets. This book presents a framework for structuring public-private research partnerships that protect both these institutions' academic freedom and the private firm's corporate interests. The authors present a four-stage framework that recognizes the critical role of `control rights' and reveals how these rights can be effectively identified, valued, and allocated between research partners. The book provides a number of template designs for a variety of research partnerships, including tactics and strategies for implementing successful public-private research partnerships. It further provides case studies with examples of both successful and unsuccessful research partnerships. The book demonstrates that universities are empowered when they pursue private partners actively and when contracts preserve academic freedom, address confidentiality, specify intellectual property rights, define access to proprietary data, clarify the conflict resolution process, and address potential publication delays. This book is an essential and illuminating resource for academic researchers in economics and public policy departments, technology transfer offices, as well as others involved in university and public administration.

Economic Analysis, Moral Philosophy, and Public Policy (Paperback, 3rd Revised edition): Daniel M. Hausman, Michael McPherson,... Economic Analysis, Moral Philosophy, and Public Policy (Paperback, 3rd Revised edition)
Daniel M. Hausman, Michael McPherson, Debra Satz
R796 Discovery Miles 7 960 Shipped within 7 - 12 working days

This book shows through argument and numerous policy-related examples how understanding moral philosophy can improve economic analysis, how moral philosophy can benefit from economists' analytical tools, and how economic analysis and moral philosophy together can inform public policy. Part I explores the idea of rationality and its connections to ethics, arguing that when they defend their formal model of rationality, most economists implicitly espouse contestable moral principles. Part II addresses the nature and measurement of welfare, utilitarianism and cost-benefit analysis. Part III discusses freedom, rights, equality, and justice - moral notions that are relevant to evaluating policies, but which have played little if any role in conventional welfare economics. Finally, Part IV explores work in social choice theory and game theory that is relevant to moral decision making. Each chapter includes recommended reading and discussion questions.

Public-Private Partnerships for Infrastructure Development - Finance, Stakeholder Alignment, Governance (Hardcover): Raymond E.... Public-Private Partnerships for Infrastructure Development - Finance, Stakeholder Alignment, Governance (Hardcover)
Raymond E. Levitt, W R Scott, Michael J. Garvin
R2,546 Discovery Miles 25 460 Shipped within 7 - 12 working days

Large infrastructure projects often face significant cost overruns and stakeholder fragmentation. Public-Private Partnerships (PPPs) allow governments to procure long-term infrastructure services from private providers, rather than developing, financing and managing infrastructure assets themselves. Aligning public and private interests and institutional logics to create robust, decades-long service contracts subject to shifting economic and political contexts is a significant cross-sectoral governance challenge. This work summarizes over a decade of research conducted by scholars at Stanford's Global Projects Center and multiple US and International collaborators to enhance the governance of both infrastructure projects and institutional investors, whose long term, cash flow obligations align especially well with the kinds of long term inflation-adjusted returns that PPP infrastructure projects can generate. In these pages, multiple theoretical perspectives are integrated and combined with empirical evidence to examine how experiences from more mature PPP jurisdictions can help improve PPP governance approaches worldwide. The information contained here will appeal to engineering, economics, political science, public policy and finance scholars interested in the delivery of high-quality, sustainable infrastructure services to the citizens in countries with established and emerging market economies. Officials in national, state/provincial and local government agencies seeking alternative financing and service provision strategies for their civil and social infrastructure, and legislators and their staff members interested in promoting PPP legislation will find this book invaluable. It will also be of high interest to long-term investment professionals from pension funds, sovereign funds, family offices and university endowments seeking to deploy money into the infrastructure asset class, and practitioners seeking insights into methods for enhancing stakeholder incentive alignment, reducing transaction costs and improving project outcomes in PPPs.

Politics as a Peculiar Business - Insights from a Theory of Entangled Political Economy (Paperback): Richard E. Wagner Politics as a Peculiar Business - Insights from a Theory of Entangled Political Economy (Paperback)
Richard E. Wagner
R671 Discovery Miles 6 710 Shipped within 7 - 12 working days

Economists typically treat government as something outside the business realm, a sort of `Lord of the Manor'. Richard Wagner argues that this is the wrong approach and can ultimately be destructive to capitalism and to society. Modern governments are a peculiar form of business enterprise. They face the same problems as regular businesses, such as ascertaining demand and organizing production, and act within the system in a way that can lead to a parasitical relationship with the market. Largely rooted in political economy, this book develops new theoretical ideas and formulations to explain why democracy is a difficult form of government to maintain. The author explores how and why limited governments can morph into a system of destructive politics, and looks at ways to escape this process. This dynamic book will be useful for public choice scholars, economists, political scientists, and lawyers who are interested in political economy in its various guises.

The Management of Public Finance - A Practical Guide (Paperback): P.W. Erasmus, C.B. Visser The Management of Public Finance - A Practical Guide (Paperback)
P.W. Erasmus, C.B. Visser
R632 R534 Discovery Miles 5 340 Save R98 (16%) Shipped within 4 - 9 working days

An introduction for students to financial management, especially central and provincial government departments. The book is also suited to both academics and practitioners.

The Economics of Sovereign Debt (Hardcover): Robert W Kolb The Economics of Sovereign Debt (Hardcover)
Robert W Kolb
R23,235 Discovery Miles 232 350 Shipped within 7 - 12 working days

This expansive collection contains more than one hundred of the very best and most influential scholarly articles on the sovereign debt of central governments around the world. It features discussions of the debt of many emerging nations as well as the largest sovereign debtors in the world. Collectively, these articles provide a thorough understanding of sovereign debt as seen by the best economists from around the world. The extensive and in-depth introductory chapter also discusses each of the articles individually. This collection is an essential tool to libraries, academic institutions, economic scholars and students alike.

Structuring Public-Private Research Partnerships for Success - Empowering University Partners (Hardcover): Gordon C. Rausser,... Structuring Public-Private Research Partnerships for Success - Empowering University Partners (Hardcover)
Gordon C. Rausser, Holly Ameden, Reid Stevens
R2,188 Discovery Miles 21 880 Shipped within 7 - 12 working days

University research has played an essential role in economic growth by generating public good outputs that have not readily lent themselves to private market development. As funding for universities and governmental research units has declined, these institutions have turned to the private sector to augment their research and development budgets. This book presents a framework for structuring public-private research partnerships that protect both these institutions' academic freedom and the private firm's corporate interests. The authors present a four-stage framework that recognizes the critical role of `control rights' and reveals how these rights can be effectively identified, valued, and allocated between research partners. The book provides a number of template designs for a variety of research partnerships, including tactics and strategies for implementing successful public-private research partnerships. It further provides case studies with examples of both successful and unsuccessful research partnerships. The book demonstrates that universities are empowered when they pursue private partners actively and when contracts preserve academic freedom, address confidentiality, specify intellectual property rights, define access to proprietary data, clarify the conflict resolution process, and address potential publication delays. This book is an essential and illuminating resource for academic researchers in economics and public policy departments, technology transfer offices, as well as others involved in university and public administration.

Analysis and Public Policy - Successes, Failures and Directions for Reform (Hardcover): Stuart Shapiro Analysis and Public Policy - Successes, Failures and Directions for Reform (Hardcover)
Stuart Shapiro
R1,751 Discovery Miles 17 510 Shipped within 7 - 12 working days

How do we incorporate analytical thinking into public policy decisions? Stuart Shapiro confronts this issue in Analysis and Public Policy by looking at various types of analysis, and discussing how they are used in regulatory policy-making in the US. By looking at the successes and failures of incorporating cost-benefit analysis, risk assessment, and environmental impact assessment, he draws broader lessons on its use, focusing on the interactions between analysis and political factors, legal structures and bureaucratic organizations as possible areas for reform. Utilizing empirical and qualitative research, Shapiro analyzes four different forms of analysis: cost-benefit analysis, risk assessment, environmental impact assessment, and impact analysis. After interviewing nearly fifty individuals who have served in high levels of government, and who have made countless regulatory policy decisions in their careers, Shapiro argues that advocates must become less ambitious and should craft requirements for simpler and clearer analysis. Such analysis, particularly if informed by public participation, can do a great deal to improve government decisions. As this book details the relationship between analysis and institutional factors such as politics, bureaucracy, and law, it is appropriate for a variety of readers, such as scholars of policy, students, scholars of regulation, and congressional and state legislative staff looking to create new analytical requirements.

The New Economics of Sovereign Wealth Funds (Hardcover): Massimiliano Castelli, Fabio Scacciavillani The New Economics of Sovereign Wealth Funds (Hardcover)
Massimiliano Castelli, Fabio Scacciavillani
R1,375 R981 Discovery Miles 9 810 Save R394 (29%) Shipped within 7 - 13 working days

A complete guide to sovereign wealth funds written by and for industry practitioners

Sovereign wealth funds (SWFs) aren't new, but they are often misunderstood. As they've attracted more attention over the last decade and grown greatly in size, the need for a new and thorough resource on SWFs has never been greater. These funds will only grow more important over the coming years. In this book, expert authors who work in the industry present a comprehensive look at SWFs from the perspective of western investors.

A Handbook of Alternative Theories of Public Economics (Paperback): Francesco Forte, Ram Mudambi, Pietro Maria Navarra A Handbook of Alternative Theories of Public Economics (Paperback)
Francesco Forte, Ram Mudambi, Pietro Maria Navarra
R901 Discovery Miles 9 010 Shipped within 7 - 12 working days

This comprehensive and thought-provoking Handbook reviews public sector economics from pluralist perspectives that either complement or reach beyond mainstream views. The book takes a comprehensive interdisciplinary approach, drawing on economic elements in the fields of philosophy, sociology, psychology, history and law. The expert contributors present new methodological approaches across these disciplines in five distinct sections: * `Revisiting the Theoretical Foundations' compares and contrasts Austrians, Marxists, public choice theorists and Keynesians * `Revisiting the Values' is concerned with justice, welfare, religions and civil rights * `Beyond Rationalistic Rational Choice' includes chapters devoted to memory, information and group motivation * The final sections on `Optimal Government and Government Failure' and `Public Economics of Public Bads' deal with competition among governments, their suboptimal size, regulation, corruption, the informal economy, cognitive dissonance, rent seeking, the UN and criminal cycles. Academics, researchers and students with an interest in economics - particularly public sector economics and Austrian economics - and public policy will find this Handbook to be an invaluable reference tool.

The Global Financial Crisis and its Budget Impacts in OECD Nations - Fiscal Responses and Future Challenges (Hardcover): John... The Global Financial Crisis and its Budget Impacts in OECD Nations - Fiscal Responses and Future Challenges (Hardcover)
John Wanna, Evert A. Lindquist, Jouke de Vries
R2,546 Discovery Miles 25 460 Shipped within 7 - 12 working days

The global financial crisis of 2007-09 constituted the biggest shock to the economies of the OECD nations since the Second World War, testing budgetary systems and causing most of their governments to move into intense crisis mode. Policy responses by governments and international authorities included massive interventions to stabilize markets and economies, and significant adjustments to fiscal policy regimes. How governments reacted to the crisis, which was manifested differently in each jurisdiction, had significant political implications for sitting governments and led to reforms of fiscal policy and budgetary regimes, which have since continued to wrestle with slow economic growth and strained public finances. This singular shock provides the editors and authors of this book with an intriguing opportunity to examine how different OECD budgetary systems performed. The contributions frame and assess how governments responded to the challenge and how their budget systems evolved in the aftermath, with a focus on strategy, decision-making and balancing competing demands. Chapters cover the EU, North America and Asia, including comparison between countries that fared well, those who were moderately affected and those countries massively affected by the global financial crisis. This timely book will appeal to students and academics seeking an international understanding and analysis of the effects and consequences of the global financial crisis.

Handbook of Multilevel Finance (Hardcover): Ehtisham Ahmad, Giorgio Brosio Handbook of Multilevel Finance (Hardcover)
Ehtisham Ahmad, Giorgio Brosio
R4,466 Discovery Miles 44 660 Shipped within 7 - 12 working days

This Handbook explores and explains new developments in the "second generation" theory of public finance, in which benevolent rulers and governments have been replaced by personally motivated politicians and the associated institutions. In other words, the normative approach has largely given way to a political economy approach which emphasizes the importance of institutional arrangements and information flows to ensure there are appropriate incentives and sanctions to generate good governance. Following a comprehensive introduction by the editors, the renowned contributors present fresh and original perspectives on the key multi-level issues, along with recent developments in theory and practice, as they relate to taxes, budget systems, the management of liabilities and macroeconomic stability. The book also explores special issues concerning the poor and marginalized, structural change and the environment, natural disasters, and the task of overcoming conflicts whilst keeping countries together. The Handbook is organized along three broad themes which elucidate: - the different interpretations and approaches to fiscal federalism - the design of policies and institutions that govern the working of multilevel systems - the emerging challenges to decentralized systems. The handbook seeks to provide an unparallelled review of the latest literature on the broad subject of fiscal federalism and the role of policies and institutions in creating sustainable outcomes. It will prove an indispensable guide to researchers, practitioners, and policy makers seeking informed policy options.

Confronting the Shadow Economy - Evaluating Tax Compliance and Behaviour Policies (Hardcover): Colin C. Williams Confronting the Shadow Economy - Evaluating Tax Compliance and Behaviour Policies (Hardcover)
Colin C. Williams
R2,067 Discovery Miles 20 670 Shipped within 7 - 12 working days

This authoritative monograph explores the effectiveness and transferability of the rapidly expanding range of policy approaches and measures available as weaponry in the fight against the shadow economy. Beginning with a review of the extent of undeclared work, the author discusses the discrepancies between regions and the potential impacts of the economic crisis, comparing the nature of the potential solutions available with those actually adopted. The way forward, the book concludes, is to move away from increasing the costs of engaging in hidden work using repressive measures, and concentrate more on developing initiatives that enhance the benefits of engaging in declared work and increase the likelihood of compliance by engendering a commitment to tax morality. This insightful and unique exposition will have considerable appeal to academics, practitioners and policy-makers across the globe involved in the fight against undeclared work.

State and Local Financial Instruments - Policy Changes and Management (Hardcover): Craig L. Johnson, Martin J. Luby, Tima T.... State and Local Financial Instruments - Policy Changes and Management (Hardcover)
Craig L. Johnson, Martin J. Luby, Tima T. Moldogaziev
R2,067 Discovery Miles 20 670 Shipped within 7 - 12 working days

The ability of a nation to finance its basic infrastructure is essential to its economic well-being in the 21st century. This book covers the municipal securities market in the United States from the perspective of its primary capital financing role in a fiscal federalist system, where subnational governments are responsible for financing the nation's essential physical infrastructure. Using the latest financial research and theory, Johnson, Luby and Moldogaziev use data-driven analysis to inform current public policy debates regarding the future of subnational government debt finance, including the regulation of professional financial service providers. The theories, research and practical examples in the book illustrate the policies and practices that helped governments navigate through the recent financial crisis and great recession, and those policies and practices that contributed to government shipwrecks. The book is designed to help officials make good, sound fiscal choices in a fast changing, complex financial world, and within the constraints imposed by fiscal rules and institutions. State and Local Financial Instruments will be of interest to academics, students and researchers interested in economics, finance, international studies and public policy. It is also an excellent reference tool for government officials, public policymakers and professionals working in finance.

The New Frontier Investors - How Pension Funds, Sovereign Funds, and Endowments are Changing the Business of Investment... The New Frontier Investors - How Pension Funds, Sovereign Funds, and Endowments are Changing the Business of Investment Management and Long-Term Investing (Hardcover, 1st ed. 2016)
Jagdeep Singh Bachher, Adam D. Dixon, Ashby Monk
R789 R649 Discovery Miles 6 490 Save R140 (18%) Shipped within 7 - 12 working days

Who holds the power in financial markets? For many, the answer would probably be the large investment banks, big asset managers, and hedge funds. These are the organizations that are in the media's spotlight and whose leaders and employees command outsized salaries and bonuses. They are the supposed leading edge of global finance and their power seems almost absolute, even as questions abound about their social and economic utility. But more and more asset owners are confronting the status quo, the power to exact high fees and the focus on the short term. The New Frontier Investors chronicles the rise of this new group of long horizon asset owners that includes some of the world's largest pension funds, sovereign wealth funds, and endowments. These asset owners are driving the business of asset management to a new frontier by retaking responsibility of the end-to-end management of their investment portfolios and by re-conceptualizing investment decision-making. The lessons illustrated in The New Frontier Investors fly in the face of conventional wisdom, which has it that these asset owners are at a disadvantage to the private sector fund managers and other service providers. These asset owners are supposedly not able to attract talent nor do they have the organizational capabilities to compete. That many are located far from the markets in which they invest only exacerbates the problem. But this is incorrect. This expanding group of asset owners is learning how to make the most of their scale and long time horizons, finding new ways to attract talent, to collaborate, and to build greater alignment with the users of capital. They are not at a disadvantage. They are at an advantage. The New Frontier Investors is essential reading for anyone wanting to see a change in global financial markets and the professionalization of asset owners worldwide, from public pension funds and sovereign wealth funds to foundations and endowments. It is thus required reading for the senior executives and employees working in the field of beneficiary institutional investment, as well as government officials and others that have a stake in the design and governance of beneficiary financial institutions and long-term capital.

Doing More with Less 2nd edition - Measuring, Analyzing and Improving Performance in the Not-For-Profit and Government Sectors... Doing More with Less 2nd edition - Measuring, Analyzing and Improving Performance in the Not-For-Profit and Government Sectors (Hardcover, 2nd ed. 2014)
James Creelman, Bernard W Marr
R798 R680 Discovery Miles 6 800 Save R118 (15%) Shipped within 7 - 12 working days

Public sector organizations are in one of the most challenging environments they have ever had to face as they bear much of the cost of the recession. More than ever before, public sector leaders need to instil strong performance improvement disciplines into their organizations that enable these leaders to fully understand: key outcomes and priority deliverables, how to allocate reduced financial resources and where to reduce costs and improve efficiencies without jeopardizing service delivery.
Written in an accessible and practical style, this fully-updated second edition addresses the efficiency drive using models, tools and ideas more commonly found in the corporate world, such as balanced scorecard and Lean. It also includes new case studies and real-life examples, from Audit Scotland, Belfast City Council, Brisbane City Council, City of Charlotte, Civil Service College (Singapore) FBI, NHS, Ministry of Works (Bahrain), Royal Canadian Mounted Police and the US Postal Service.

The Changing Welfare State in Europe - The Implications for Democracy (Hardcover): David G. Mayes, Anna Michalski The Changing Welfare State in Europe - The Implications for Democracy (Hardcover)
David G. Mayes, Anna Michalski
R2,184 Discovery Miles 21 840 Shipped within 7 - 12 working days

The welfare state in Europe has been reformed gradually over the past two decades, with the intensification of the economic and monetary union and the addition of fifteen new members to the EU. This book explores the pressures that have been placed on the welfare state through a variety of insightful and thought-provoking contributions. As the standard of living has increased, aspirations and financial constraints have required major rethinking. There is considerable disparity between European countries in how they approach the welfare system, with differing concern over aspects such as income, employment and the ability to participate in society. Choices over welfare lie at the heart of the democratic system; this book explores the tensions this has produced and the innovative responses in policy content and institutions. The Changing Welfare State in Europe has a wide appeal, which will have relevance to economists, scholars in public and social policy, public and private finance experts, policymakers and also academics with an interest in the impact of financial and economic development.

Public Private Partnerships in Education - New Actors and Modes of Governance in a Globalizing World (Paperback): Susan L.... Public Private Partnerships in Education - New Actors and Modes of Governance in a Globalizing World (Paperback)
Susan L. Robertson, Karen Mundy, Antoni Verger, Francine Menashy
R675 Discovery Miles 6 750 Shipped within 7 - 12 working days

This insightful book brings together both academics and researchers from a variety of international organizations and aid agencies to explore the complexities of public private partnerships (PPPs) as a resurgent, hybrid mode of educational governance that operates across scales, from the community to the global. The contributors expertly study the different types of partnership arrangements and thoroughly critique the value of PPPs. Some chapters explore how PPPs, as a policy idea, have been constructed in transnational agendas for educational development and circulated globally, whilst other chapters explore the role and implications of PPPs in developing countries, providing arguments for and against an expanding reliance on PPPs in national educational systems. The theoretical framing of the book draws upon leading theories of international relations to develop a unique perspective on the global governance of education. It will prove insightful for both scholars and policymakers in public policy and education.

Why is There Money? - Walrasian General Equilibrium Foundations of Monetary Theory (Paperback): Ross M. Starr Why is There Money? - Walrasian General Equilibrium Foundations of Monetary Theory (Paperback)
Ross M. Starr
R603 Discovery Miles 6 030 Shipped within 7 - 12 working days

The microeconomic foundation of the theory of money has long represented a puzzle to economic theory. Why is there Money? derives the foundations of monetary theory from advanced price theory in a mathematically precise family of trading post models. It has long been recognized that the fundamental theoretical analysis of a market economy is embodied in the Arrow-Debreu-Walras mathematical general equilibrium model, with one great deficiency: the analysis cannot accommodate money and financial institutions. In this groundbreaking book, Ross M. Starr addresses this problem directly, by expanding the Arrow-Debreu model to include a multiplicity of trading opportunities, with the resultant endogenous derivation of money as the carrier of value among them. This fundamental breakthrough is achieved while maintaining the Walrasian general equilibrium price-theoretic structure, augmented primarily by the introduction of separate bid and ask prices reflecting transaction costs. The result is foundations of monetary theory consistent with and derived from modern price theory. This fascinating book will provide a stimulating and thought-provoking read for academics and postgraduate students focusing on economics, macroeconomics, macroeconomic policy and finance, money and banking. Central bankers will also find much to interest them within this book.

The Power and Independence of the Federal Reserve (Paperback): Peter Conti-Brown The Power and Independence of the Federal Reserve (Paperback)
Peter Conti-Brown; Afterword by Peter Conti-Brown
R514 R341 Discovery Miles 3 410 Save R173 (34%) Shipped within 7 - 12 working days

The independence of the Federal Reserve is considered a cornerstone of its identity, crucial for keeping monetary policy decisions free of electoral politics. But do we really understand what is meant by "Federal Reserve independence"? Using scores of examples from the Fed's rich history, The Power and Independence of the Federal Reserve shows that much common wisdom about the nation's central bank is inaccurate. Legal scholar and financial historian Peter Conti-Brown provides an in-depth look at the Fed's place in government, its internal governance structure, and its relationships to such individuals and groups as the president, Congress, economists, and bankers. Exploring how the Fed regulates the global economy and handles its own internal politics, and how the law does--and does not--define the Fed's power, Conti-Brown captures and clarifies the central bank's defining complexities. He examines the foundations of the Federal Reserve Act of 1913, which established a system of central banks, and the ways that subsequent generations have redefined the organization. Challenging the notion that the Fed Chair controls the organization as an all-powerful technocrat, he explains how institutions and individuals--within and outside of government--shape Fed policy. Conti-Brown demonstrates that the evolving mission of the Fed--including systemic risk regulation, wider bank supervision, and as a guardian against inflation and deflation--requires a reevaluation of the very way the nation's central bank is structured. Investigating how the Fed influences and is influenced by ideologies, personalities, law, and history, The Power and Independence of the Federal Reserve offers a uniquely clear and timely picture of one of the most important institutions in the United States and the world.

The Challenge of Local Government Size - Theoretical Perspectives, International Experience and Policy Reform (Hardcover):... The Challenge of Local Government Size - Theoretical Perspectives, International Experience and Policy Reform (Hardcover)
Santiago Lago-Penas, Jorge Martinez-Vazquez
R2,305 Discovery Miles 23 050 Shipped within 7 - 12 working days

In the efficient delivery of local public services, size matters. Many countries around the world have vertical government structures that are perceived as inefficient because of their high levels of jurisdictional fragmentation. This timely volume examines the different strategies used to address local government fragmentation and their observed results and consequences. Expert contributors in economics and political science offer a comprehensive breakdown of the issue of local jurisdiction fragmentation and provide recommendations for successful policy reform. Topics discussed include economies of scale, the costs and benefits of voluntary and forced amalgamation programs, the correlation between government size and corruption, privatization, and inter-municipal cooperation. A combination of theory and empirical evidence provides depth and makes this book an invaluable addition to the literature. Economists, public administrators and political scientists will find much of interest in this innovative volume, as will professors, students and international institutions with an interest in local government structure and reform.

Globalisation, the Global Financial Crisis and the State (Hardcover): John H. Farrar, David G. Mayes Globalisation, the Global Financial Crisis and the State (Hardcover)
John H. Farrar, David G. Mayes
R2,424 Discovery Miles 24 240 Shipped within 7 - 12 working days

The recent global financial crisis has challenged conventional wisdom, and our conception of globalisation has been called into question. This challenging and timely book revisits the relationship between globalisation, the crisis and the state from an interdisciplinary perspective, with law, economics and political science underpinning the analysis. The expert contributors consider the Washington Consensus and its aftermath across Australia, China, the EU, New Zealand and South Africa in light of the financial crisis, encompassing public policy issues including banking reform, privatisation and state owned enterprise. The clash between market and state capitalism and the response of market capitalism to the crisis are also explored. This book draws together truly multidisciplinary discussions of the main issues for contemporary society in the face of globalisation, and defines how these issues relate to each other. As such, it will prove a stimulating read for academics, researchers, postgraduate students and policymakers with an interest in law, economics and politics.

Tax, Law and Development (Hardcover): Yariv Brauner, Miranda Stewart Tax, Law and Development (Hardcover)
Yariv Brauner, Miranda Stewart
R2,787 Discovery Miles 27 870 Shipped within 7 - 12 working days

Comprising original essays written by top legal scholars, this innovative volume is the most comprehensive collection to date of independent academic work exploring the relationship between tax, law and development. Contributors cover a range of tax issues, drawing on economic, political, social, and institutional perspectives to offer a comprehensive view of how tax laws affect and are affected by human economic development. Hailing from across the globe, contributors offer expert insight into tax issues in China, Brazil, South Africa, India, and other developing countries. Following a thorough examination of current policy approaches to tax problems in developing nations, the writers conclude that new solutions are needed, and outline a number of groundbreaking ideas and proposals designed to mitigate many of the problems associated with tax law and economic development. Professors, students, and researchers with an interest in tax, law, development, and globalization will find much to admire in this critical and groundbreaking addition to the literature.

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