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, while 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 policy makers in public policy and education. Contributors: F. Barrera-Osorio, Z. Bhanji, A. Draxler, S. Fennell, M. Ginsburg, J. Guaqueta, J. Harma, A.V. Jaimovich, A.A. Marphatia, F. Menashy, K. Mundy, S.-A. Oh, H.A. Patrinos, S.L. Robertson, M. Ron-Balsera, P. Rose, P. Srivastava, J. van Fleet, A. Verger

Citizens' participation, especially participatory budgeting, has spread in both Asia and Europe, and has been a symbol of democratic renewal. These transformations are already very visible in Europe, where more than 200 municipalities have adopted participatory budgeting. By contrast, in some Asian democracies, such as Japan or South Korea, it has considerably enlarged the agenda of citizen participation, integrating new forms such as taxpayers' budgets. In other countries, especially in China, participatory budgeting represents some adaptations of opening and transparency. With a global cast of authors, this study provides an overview of the impact of these devices, such as improving the modernisation of public administration or improving the contact between citizens and politicians, and documents the latest developments of citizen participation in both continents.

Examining various methods of debt management used in the US., Handbook of Debt Management, provides a comprehensive analysis of securities offered for sale by municipalities, states, and the federal government. The book covers laws regarding municipal bonds, the economic choice between debt and taxes and the tax-exempt status of municipal bond owners, capital budgeting, including state and local government practices, developing governmental and intergovernmental debt policies, pay-as-you-go with debt financing for capital projects, US Internal Revenue Service regulations on arbitrage in state and local government debt proceeds investment, US treasury auctions, and more.

No single system of development can accommodate all variations of the economic, social and political environments in developing economies. The authors of this book analyse the changing role of the public sector in promoting socioeconomic development. They concentrate their study on the three major issues of macroeconomic management in development planning: market mechanisms, financial management and enterprise management, and the transfer and development of technology. Planning practitioners and scholars and students of economic development should find this book provides important theoretical insights, as well as the experiences of various countries in managing their economic progress.

This book widens the current debate on security privatization by examining how and why an increasing number of private actors beyond private military and security companies (PMSCs) have come to perform various security related functions. While PMSCs provide security for profit, most other private sector stakeholders make a profit by selling goods and services that were not originally connected with security in the traditional sense. However, due to the continuous introduction of new legal and technical regulations by public authorities, many non-security-related private businesses now have to perform at least some security functions. This volume offers new insights into security practices of non-security-related private businesses and their impact on security governance. The contributions extend beyond the conceptual and theoretical arguments in the existing body of literature to offer a range of original case studies on the specific roles of non-security-related private companies of all sizes, from all areas of business and from different geographic regions.

This book introduces recent developments in both theoretical and empirical analyses of local public economics. Theories of those economics as well as empirical analyses have been developed dramatically in various directions in recent years. One direction has been to reflect real economic circumstances, especially in Japan. In the early 2000s, Japan experienced the so-called great merger (or consolidation) of municipalities in the Heisei era (1999 through the present), with the number of municipalities shrinking from 3,232 to 1,821 for increasing administrative and financial efficiency. This phenomenon is mainly due to a drastic change in demography in Japan: the dimishing birthrate and aging population. Following the consolidation, regional coordination has been undertaken to raise overall administrative and financial efficiency. In sum, various types of public policies for tackling the decreasing birthrate and aging population have been carried out. Urban sprawl and the timing of municipal mergers are dealt with from a broad point of view, and public child care services and tax competition are investigated from a policy standpoint. Another direction has been to incorporate new ideas for forming theoretical frameworks for local public finance, most of which have been based on static situations. In the recent trend toward globalization, local governments have attended not only to the welfare of residents but also to the interests of regional economic development. In addition, decision making by local governments has tended to be affected by political activities. Thus, the endogenous growth setting and lobbying activities for the activities of local governments are discussed in the book. With these new directions for analyses, the author tackles the topics of tax competition, cross-border shopping, local provision of public goods, and soft budgets, thus covering a broad range of aspects of local public finance.

In this book, an expert in the field explains why the United States is the world's largest debtor nation and how America's relationship to creditor states is of growing economic, diplomatic, and even national security concern. Foreign countries are not merely investing in U.S. corporations but are purchasing them outright: Abu Dhabi bought Citigroup securities, Kuwait purchased a large block Merrill Lynch stock, and China bought Morgan Stanley's convertible securities-and this happened before the September 2008 meltdown of Wall Street. The means by which wealthy foreign states make these purchases are sovereign wealth funds, their surplus capital that they are seeking to invest in order to generate the greatest return. Currently, the largest sovereign wealth funds are held by the United Arab Emirates (of which Abu Dhabi is part), Norway, Singapore, Kuwait, and the People's Republic of China; Qatar and Libya are also in the top ten. The United States has no such fund (although the state of Alaska does). This book takes a close look at China's and Norway's sovereign wealth funds to explain how they work. The author also uses domestic examples (Harvard's endowment, the California's state employees' retirement fund) to propose how the United States could create a sovereign wealth fund, speculating that such a fund could solve the looming Social Security funds shortfall. Most important, the book elucidates the national security aspects of not having an American sovereign wealth fund when so many other nations-both friend and foe-have them.

This book outlines the considerable increase in public expenditure in the UK from around 10 per cent of GDP in the 1870s to 40 per cent and above in the21st century. Clive Leeexplores the fluctuations in state spending, highlighting theongoing political conflictover the size and extent of welfare provision.

This book brings together important essays by Richard F. Kahn, Keynes's pupil and literary executor and one of the most influential economists in the Cambridge tradition. The essays address issues, including imperfect competition, pricing mechanisms, inflation, unemployment, and the regulation of international trade and finance, that are highly relevant and topical They are addressed from a Keynesian perspective, with the interface between economic theory and policy explored. With the inclusion of a new introduction, the essays are placed in their own context and offer the key to understand their relevance for the present. Richard F. Kahn: Collected Economic Essays is a fitting companion to the 1972 collection of essays, edited by Kahn himself. It will be of interest to scholars and students as a key to an outstanding economist and a great figure in the Keynesian tradition.

Baumol's Cost Disease is the inevitable escalation of the real costs that occur in labour-intensive industries like the arts, health care and education. The labour costs in these industries tend to increase at the same rate as other industries, but their scope for utilizing labour-saving technical progress is either small or non-existent.The book opens with an introduction by Ruth Towse in which there is an overview of William Baumol's work. In this discussion Ruth Towse examines Baumol's work in the context of the development of the economics of the arts. The volume is then divided into parts and begins by introducing William Baumol's work through several autobiographical essays. This is followed by some of his early contributions to cultural economics and the cost disease. William Baumol's leading macroeconomic work on the 'unbalanced growth model' is also included and the debate about it at its inception. In parts three and four some of the more empirical papers on the arts are presented as well as essays on policy implications for the arts. Following this are chapters on the theatre and publishing as well as historical studies of the arts and the implications of the cost disease for libraries, health care and education. This book contains William Baumol's contribution to cultural economics and spans over 30 years of writing on the subject, much of which is not widely available. It provides a real insight into the development of Baumol's analysis and his perception of the problems of the arts and other labour-intensive sectors.

Classical liberalism has typically sought to maintain as much room as possible for the exercise of personal initiative in the face of the encroachment of states. This book explores these questions of coercion and authority in the context of the size and scope of the state and argues that the state and its agents should be held to the same moral rules as are the individuals it rules over. The book considers how a distinct feature of the state is its police or coercive power, about which one may ask how the state acquires it and what if anything would justify its use. It considers the implication that there is nothing inherent about state agents that entitles one to behave in ways that we would not accept from a private actor, and how once that argument is made, the state's claim to authority is weakened. The author also discusses the extent to which democracy has been thought to provide any sort of justification for coercion or authority. This book will be of interest to academics and students of political philosophy, especially classical liberalism, and legal philosophy.

This excellent book provides a welcome collection of David Teece's most important writings in the related areas of strategy and technology and their implications for public policy.These papers are the result of an ambitious agenda to analyse concepts in economics, organizational theory and management policy to provide a uniquely integrated global view of strategy, technology and public policy. Key topics which are addressed include: fundamental issues in strategic management technology and technology transfer antitrust regulation and deregulation technology policy The volume also includes an extensive introduction which provides a biographical insight into the development of the author's career and his continuing research into the areas the articles in this volume exlore. David Teece's style of writing is succinct and logical and the material presented in this volume, and in its companion Economic Performance and the Theory of the Firm, will be of great interest to economists, managers, consultants and policy makers.

The emerging markets have attained prominence of late as the recent troubles in the principal emerging markets in Asia, Russia and Latin America have threatened global stability. This book is the first detailed study of emerging markets debt and offers a unique insight into one of the world's more significant, and less understood, financial markets. It offers a comprehensive analysis of the evolution of the market in emerging markets debt from 1983 to date. In the aftermath of the debt crisis of the 1980s the banking community discovered the first disposal technique for the sovereign debt of less developed countries -- a secondary market in that debt. This market played a major role in the history and amelioration of the debt crisis, the Mexican problems in the mid-1990s, and the recent Asian economic crisis. The market focus of this study is on the indebtedness of Latin American nations, which has fanned the backbone of secondary market activity, and the recent developments in Asia. The regulatory focus is on U.S. banks and banking regulation. This book is essential reading for anyone involved with emerging markets debt: bankers, traders, investors, corporate and sovereign issuers, finance lawyers and banking regulators.

This monograph evaluates public policy responses to the Covid-19 pandemic through a public choice lens. The book compares two prominent, albeit mutually exclusive, theories in social sciences-public interest theory and public choice theory-and explores how their predictions perform within the framework of the Covid-19 pandemic. The chapters present different pandemic policies alongside empirical data in order to draw conclusions about their efficacy, and, in turn, draw conclusions about the veracity of each theory. By the end of the volume, the reader will be able to draw their own conclusions about whether the pandemic policy responses served the public interest, as public interest theory suggests, or the personal interests of the politicians who implemented them, as public choice theory holds.

This book presents a scientific view of fighting climate change in the economy of the future, the foundations of which are being set around the world. The authors substantiate the potential of Industry 4.0 in stimulating sustainable development in environmental protection and preservation of natural resources. This book considers the modern experience of fighting climate change based on possibilities of Industry 4.0 at the national scale in view of developed and developing countries with a special focus on Russia and at the corporate scale by the example of transnational corporations. It determines the future contribution of Industry 4.0 into development of responsible production and consumption, and compiles the "outlines" of "green" economy in Industry 4.0. It offers recommendations for control of climate change in Industry 4.0, and presents the authors' vision of ecological responsibility in Industry 4.0 for implementing the sustainable development goals. This book will be of interest to academics and practitioners interested in climate change and development of Industry 4.0, as well contributing to a national economic policy for fighting climate change and corporate strategies of sustainable development in Industry 4.0.

Economic growth and development critically depends on the quality of infrastructure. Each aspect of the economy and its infrastructure are linked systemically. Public-Private Partnerships (PPPs) are increasingly being promoted as the solution to the shortfall in financing needed to achieve the Sustainable Development Goals (SDGs). Public-private partnerships enable the public entity to utilize the expertise and efficiencies of the private sector to deliver services and facilities that traditionally have been delivered by the public sector, either through public sector employees or by traditional procurement methods. To be beneficial to all stakeholders, a PPP project requires careful planning, implementation, and strong governance. This book breaks down the steps involved and the traps to circumvent. Despite its globally growing importance, project finance has been somewhat underrepresented in research. This book analyzes project finance from an interdisciplinary perspective-finance, management, and international business-and includes international laws of arbitrage and perspectives of international financial institutions as never endeavored by any previous research projects. The book also includes case studies assessing the relevance of private-public partnerships by comparing the country expectations and the real outcomes. The gap between expectations and results does not necessarily mean that significant progress has not been made. To the contrary, the book suggests that some of the original targets set may have been unrealistic, and that the requisite financial resources-or the financial sector policies that could have generated those resources-may have been lacking.

This timely book reveals that the budget deficits and accumulating debts that plague modern democracies reflect a clash between two rationalities of governance: one of private property and one of common property. The clashing of these rationalities at various places in society creates forms of societal tectonics that play out through budgeting. The book demonstrates that while this clash is an inherent feature of democratic political economy, it can nonetheless be limited through embracing once again a constitution of liberty. Not all commons settings have tragic outcomes, of course, but tragic outcomes loom large in democratic processes because they entail conflict between two very different forms of substantive rationality; the political and market rationalities. These are both orders that contain interactions among participants, but the institutional frameworks that govern those interactions differ, generating democratic budgetary tragedies. Those tragedies, moreover, are inherent in the conflict between the different rationalities and so cannot be eliminated. They can, as this book argues, be reduced by restoring a constitution of liberty in place of the constitution of control that has taken shape throughout the west over the past century. Economists interested in public finance, public policy and political economy along with scholars of political science, public administration, law and political philosophy will find this book intriguing. Contents: Preface 1. Budgeting: The Elusive Quest for Fiscal Responsibility 2. Budgeting and Political Economy: A Theoretical Framework 3. Budget Deficits, Ricardian Equivalence, and Macro-Micro Supervenience 4. Property Rights, Societal Tectonics, and the Fiscal Commons 5. Parliamentary Assemblies as Peculiar Market Bazaars 6. Taxation, Fiscal Politics, and Political Pricing 7. Regulation as Alternative Taxation 8. Public Finance for a Constitution of Liberty Bibliography Index

Why are historically Catholic countries and regions generally more corrupt and less competitive than historically Protestant ones? How has institutionalization of religion influenced the prosperity of countries in Europe and the Americas? This open access book addresses these critical questions by elucidating the hegemonic and emancipatory religious factors leading to these dissimilarities between countries. The book features up-to-date mixed methods from interdisciplinary research contributing to existing studies in the sociology of religion field by demonstrating-for the first time-the effect of the mutually reinforcing configuration of multiple prosperity triggers (religion-politics-environment). It demonstrates the differences in the institutionalization of Roman Catholicism and Protestantism by applying quantitative and qualitative methods and by performing a qualitative comparative analysis (QCA) of 65 countries. The author also provides a comprehensive survey and results of empirical research on different theories of development, focusing on the influence of religion.

Comparing Fiscal Federalism investigates intergovernmental financial relations and the current de jure and de facto allocation of financial and fiscal powers in compound states from a comparative and interdisciplinary perspective. The volume combines theoretical approaches with case studies and involves scholars from various disciplines, in order to provide a comprehensive analysis of different approaches, developments and trends. This includes outlining fiscal federalism's basic principles and overall frameworks, investigating current constitutional/legislative settings and how financial systems function, as well as zooming in on a selection of emerging issues in financial and fiscal relations. The single chapters are based on comparative investigations under the umbrella of a broad definition of fiscal federalism that includes all varieties of federal systems.

This book provides quantitative evidence on the issues in fiscal and monetary policies in Mongolia and presents necessary policy recommendations for policymakers and academic circles. Mongolia belongs to a natural resource-based, transition economy and thus has faced the risk of the so-called resource curse-including the "Dutch Disease" and immaturity in market-based systems, particularly in financial markets. Consequently, reformations of resource allocation and policy governance in fiscal and monetary fields have been required. So far, however, there have been only a very limited number of quantitative studies in the Mongolian economy among the vast literature of Asian studies. This book applies scientific approaches to address fiscal and monetary issues, such as data-oriented and econometric methods (a structural vector auto-regression model, a spatial econometric model, and panel estimation with fixed effects, among others). In this manner, the book enriches empirical evidence in academic literature and also contributes to evidence-based policymaking. All the authors are young leaders of government officials in the Ministry of Finance, Financial Regulatory Commission, and National Statistics Office in Mongolia, who have been trained in academic research methodologies at Saitama University, Japan, on JICA-JDS scholarships. Thus, academic researchers and policymakers will be prominent members of the target audience for this work.

This book examines how macro-fiscal policy can lead to gender-aware human development in an emerging economy like India, with special reference to gender budgeting. Integrating gender lens in macro-fiscal policies has been widely recognized in international and national policy making and budgeting. The book highlights the gender diagnosis-the measurement issues relate to construction of gender outcome variables; the statistical invisibility of unpaid care economy sector and how deficiency in public infrastructure can accentuate the private costs; the analytical link between gender outcome variables and macro-fiscal policy frameworks; the role and impact of fiscal transfers on gender equality outcomes at subnational levels; time series of gender budgets in India across sectors and its fiscal marksmanship; gender disaggregated public expenditure benefit incidence analysis to understand the distributional impacts of public spending on women across income quintiles and suggest policy alternatives. The book uses unique database-time use survey data and the disaggregated demand for grants, expenditure budgets using gender lens. The book employs case study, simple statistical tools for the analysis and econometric methodology.

The book portrays the scope and dimension of different financial inclusion strategies. It looks at the role and potential of banks involved in financial inclusion. This book focuses on the importance of financial inclusion and in measuring its important determinants. It provides an empirical insight into how the different factors influence financial inclusion of a nation, providing a guideline to the banks and the regulators to select an effective structure of bank branch and efficient composition, to ensure best utilization of their devoted resources in the context of a developing economy.

This is the first book that analyzes public-private partnership (PPP) infrastructure development in developing countries by focusing on recent developments in the Philippines. Infrastructure is extremely important for economic development and poverty reduction. However, given the infrastructure gap and pressures on public expenditure, there is a growing expectation that PPP will fill this gap globally. Over the years, PPP as a mechanism for financing and procuring infrastructure has been the basis of an active and provocative debate in the Philippines, which is known to have inadequate infrastructure-twice in the 2010s, when a significant policy shift on the financing source of public infrastructure was announced by the Philippine government. Drastic policy changes concerning the roles of public finance and PPP in infrastructure development within this decade are not seen in other developing countries. There is no precedent for substantial study on the changes of infrastructure governance in the Philippines, but this book assesses policy changes in infrastructure development in the country and, as academic contributions, identifies several factors behind the changes related to infrastructure governance there, especially the drastic shifts during the Aquino III and Duterte administrations. Furthermore, the findings presented in the book, including the desirable role of public finance and PPP in developing infrastructure in developing countries, could improve infrastructure governance, such as choice of the financing mode, design, and implementation of the PPP project, in other developing countries as an operable contribution to policymakers of government and to industry and management practitioners.

This volumes examines the interaction of labour market conditions and retirement decisions. Based on French and US data, it provides empirical evidence and quantitative analysis of retirement and labor market flows. It studies the horizon effect and uses French individual data and probit models to show that the horizon effect does matter for the probability of being employed before the early retirement age. It analyses the influence of the retirement age on labour-market equilibrium, as well as the impact of labour market conditions, especially the importance of unemployment risk, on retirement decisions.

This non-technical volume analyses topical problems of public finance in a changing world characterized by growing mobility of production factors, liberalized economic policy regimes, and the formation of new nations. It discusses alternative views of government and the way we measure its activities; the modern welfare state and its impact on entrepreneurship and employment; issues of fiscal coordination and income redistribution in a world with many jurisdictions; and the problems of raising government revenue and of allocating property rights in transition economies.