In 1960, the GDP per capita in South East Asian countries was nearly half of that of Africa. By 1986, the gap had closed and today the trend is reversed, with more than half of the world’s poorest now living in Sub-Saharan Africa.

Why has Asia developed while Africa lagged? The Asian Aspiration chronicles the untold stories of explosive growth and changing fortunes: the leaders, events and policy choices that lifted a billion people out of abject poverty within a single generation, the largest such shift in human history.

The relevance of Asia’s example comes as Africa is facing a population boom, which can either lead to crisis or prosperity; and as Asia is again transforming, this time out of low-cost manufacturing into high-tech, leaving a void that is Africa’s for the taking. But far from the determinism of ‘Africa Rising’, this book calls for unprecedented pragmatism in the pursuit of African success.

The inspiration for this book was a Summer School on State, Governance and Development presented by distinguished academics from the School of Oriental and African Studies, London. Written by young African scholars, the chapters here focus on state, governance and development in Africa as seen from the authors’ vantage points and positions in different sectors of society.

The book opens with three forewords by eminent African scholars including Ben Turok, Johan Burger and Mohamed Halfani. The chapters that follow examine rent-seeking, patronage, neopatrimonialism and bad governance. They engage with statehood, state-building and statecraft and challenge the mainstream opinions of donors, funders, development banks, international non-governmental organisations and development organisations. They include the role of China in Africa, Kenya’s changing demographics, state accountability in South Africa’s dominant party system, Somalia’s prospects for state-building, urban development and routine violence, and resource mobilisation.

At a time in which core institutions are being tested -- the market, the rule of law, democracy, civil society and representative democracy – this book offers a much-needed multi- and inter-disciplinary perspective, and a different narrative on what is unfolding, while also exposing dynamics that are often overlooked.

In the universally acclaimed and award-winning The Bottom Billion, Paul Collier reveals that fifty failed states--home to the poorest one billion people on Earth--pose the central challenge of the developing world in the twenty-first century. The book shines much-needed light on this group of small nations, largely unnoticed by the industrialized West, that are dropping further and further behind the majority of the world's people, often falling into an absolute decline in living standards. A struggle rages within each of these nations between reformers and corrupt leaders--and the corrupt are winning. Collier analyzes the causes of failure, pointing to a set of traps that ensnare these countries, including civil war, a dependence on the extraction and export of natural resources, and bad governance. Standard solutions do not work, he writes; aid is often ineffective, and globalization can actually make matters worse, driving development to more stable nations. What the bottom billion need, Collier argues, is a bold new plan supported by the Group of Eight industrialized nations. If failed states are ever to be helped, the G8 will have to adopt preferential trade policies, new laws against corruption, new international charters, and even conduct carefully calibrated military interventions. Collier has spent a lifetime working to end global poverty. In The Bottom Billion, he offers real hope for solving one of the great humanitarian crises facing the world today.
"Terrifically readable."
--Time.com
"Set to become a classic. Crammed with statistical nuggets and common sense, his book should be compulsory reading."
--The Economist
"If Sachs seems too saintly and Easterly too cynical, then Collier is the authentic old Africa hand: he knows the terrain and has a keen ear.... If you've ever found yourself on one side or the other of those arguments--and who hasn't?--then you simply must read this book."
--Niall Ferguson, The New York Times Book Review
"Rich in both analysis and recommendations.... Read this book. You will learn much you do not know. It will also change the way you look at the tragedy of persistent poverty in a world of plenty."
--Financial Times

Africa and the World: Navigating Shifting Geopolitics is one of the first books to analyse the global geopolitical landscape from an African perspective, with a view to the opportunities and challenges facing the African continent. Authors in this edited volume argue for the need to re-imagine Africa's role in the world.

As a cradle of humanity, a historical fountain of profound scientific knowledge, an object of colonial conquest and, today, a collective of countries seeking to pool their sovereignties in order to improve the human condition, Africa has a unique opportunity to advance its own interests. Authors reflect on all these issues; they outline how developments in the global political economy impact on the continent and, inversely, how Africa can develop a strategic perspective that takes into account the dynamics playing out in a fraught global terrain.

Central to this evaluation is the notion of 'island Africa' a vast island - with resources that extend into the oceans around it - that is a strategic centre by virtue of its geographic location, its endowments and its long-term potential. Authors assert that the positioning of 'island Africa' presents unique political, security and geo-economic benefi ts. Yet they also acknowledge that, as has happened historically, these very advantages can serve as a basis for new forms of domination and exploitation. In addition, this volume takes into account the socio-psychological factors that influence how nations of the world receive and interpret the present, and assess prospects for the future.

The authors go beyond analysis of what is, to venture concrete proposals on what can be, with Africa exercising its agency. This requires the strengthening of continental integration and cohesion in pursuit of ideals that the African Union has enshrined in Agenda 2063. In this way, Africa would be able to engage - in a systemic and disciplined manner - with external powers to assert the continent's own interests which, in their framing, are also the interests of humanity. A continent united in both purpose and action can be an active agent in shaping the evolving global order. This volume makes a strong case for precisely such a perspective and contributes to what should be an ongoing effort to analyse geopolitics with Africa as a critical frame of reference.

From the acclaimed author of The Box, a new history of globalization that shows us how to navigate its future Globalization has profoundly shaped the world we live in, yet its rise was neither inevitable nor planned. It is also one of the most contentious issues of our time. While it may have made goods less expensive, it has also sent massive flows of money across borders and shaken the global balance of power. Outside the Box offers a fresh and lively history of globalization, showing how it has evolved over two centuries in response to changes in demography, technology, and consumer tastes. Marc Levinson, the acclaimed author of The Box, tells the story of globalization through the people who eliminated barriers and pursued new ways of doing business. He shows how the nature of globalization changed dramatically in the 1980s with the creation of long-distance value chains. This new type of economic relationship shifted manufacturing to Asia, destroying millions of jobs and devastating industrial centers in North America, Europe, and Japan. Levinson describes how improvements in transportation, communications, and computing made international value chains possible, but how globalization was taken too far because of large government subsidies and the systematic misjudgment of risk by businesses. As companies began to account properly for the risks of globalization, cross-border investment fell sharply and foreign trade lagged long before Donald Trump became president and the coronavirus disrupted business around the world. In Outside the Box, Levinson explains that globalization is entering a new era in which moving stuff will matter much less than moving services, information, and ideas.

Fundamentals of Multinational Finance is intended for use in undergraduate International Financial Management, International Business Finance, or International Finance courses A focused, streamlined approach to creating a global financial management strategy Tomorrow's business leaders will be expected to comprehend global markets and lead their organizations through a constantly changing global environment. By grounding concepts in the context of illuminating case studies and real-world examples, Fundamentals of Multinational Finance familiarizes students with the fundamental concepts and tools necessary to implement an effective global financial management strategy. This edition includes the many new financial management challenges faced by today's business leaders-while still providing students with a streamlined text that gets straight to the important concepts.

Die agtiende uitgawe van Rekeningkundige Standaarde is bedoel vir tweede- of derdejaarstudente in Finansiele Rekeningkunde of studente wat graag 'n inleiding tot rekeningkundige standaarde wil he. Hierdie uitgawe stel studente bekend aan die beginsels van die Internasionale Finansiele. Verslagdoeningstandaarde. Die rekeningkundige beginsels word geillustreer deur vrae wat geleidelik in moeilikheidsgraad toeneem. Die benadering bevorder studente se begrip van die beginsels en stel hulle in staat om finansiele state op 'n praktiese manier te bemeester. 'n Aanduiding word gegee indien 'n vraag onderwerpe bevat wat nie in die hersiene SAICA-sillabus voorkom nie, maar wat relevant vir ander sillabusse mag wees of vir die verdieping van die student se begrip.

Humanity's embrace of openness is the key to our success. The freedom to explore and exchange - whether it's goods, ideas or people - has led to stunning achievements in science, technology and culture. As a result, we live at a time of unprecedented wealth and opportunity. So why are we so intent on ruining it? From Stone Age hunter-gatherers to contemporary Chinese-American relations, Open explores how across time and cultures, we have struggled with a constant tension between our yearning for co-operation and our profound need for belonging. Providing a bold new framework for understanding human history, bestselling author and thinker Johan Norberg examines why we're often uncomfortable with openness - but also why it is essential for progress. Part sweeping history and part polemic, this urgent book makes a compelling case for why an open world with an open economy is worth fighting for more than ever.

FROM THE WINNERS OF THE 2019 NOBEL PRIZE IN ECONOMICS 'Wonderfully refreshing . . . A must read' Thomas Piketty In this revolutionary book, prize-winning economists Abhijit V. Banerjee and Esther Duflo show how economics, when done right, can help us solve the thorniest social and political problems of our day. From immigration to inequality, slowing growth to accelerating climate change, we have the resources to address the challenges we face but we are so often blinded by ideology. Original, provocative and urgent, Good Economics for Hard Times offers the new thinking that we need. It builds on cutting-edge research in economics - and years of exploring the most effective solutions to alleviate extreme poverty - to make a persuasive case for an intelligent interventionism and a society built on compassion and respect. A much-needed antidote to polarized discourse, this book shines a light to help us appreciate and understand our precariously balanced world.

"Uses a combination of great stories and thoughtful analysis to suggest that we must find a way to change the purpose of our corporations if we are to build a society that works for all of us. Rebecca M. Henderson, John & Natty McArthur University Professor at Harvard University "Fresh, balanced, highly readable and deeply informed" John Pepper, former Chairman and CEO of P&G "Thought-provoking and insightful, Accountable offers a pragmatic and original roadmap to transform capitalism into a system that's more inclusive, sustainable, and just." Dr. Rajiv J. Shah, President of The Rockefeller Foundation Capitalism is failing and the tools we are relying on to fix it - corporate social responsibility, divestment, impact investing, and government control - are only making things worse. -Chevron boasts about the $50 million per year it spends on renewable energy whilst it spends 200 times that on oil exploration -Goldman Sachs touts its 10,000 Women initiative but its board ranks 358th out of the Fortune 500 for gender diversity and women earn 55% less than men do on average By focusing on corporations rather than people, we've put our faith in empty trends and brand-focused window-dressing. Why should those responsible for our current crisis be trusted to fix it? In Accountable, authors Michael O'Leary and Warren Valdmanis offer a blueprint for everyone to take responsibility for using their economic power as consumers, as investors, as employees, and as voters to trigger a fundamental shift away from an economy that is unethical, unfair, and destructive to our environment and institutions. Their investigation cuts through the tired dogma of current economic thinking to reveal a hopeful truth: if we can make our corporations accountable to a deeper purpose, we can make capitalism both prosperous and good. Trenchant and gripping, this is an indispensable guide and call to action for citizens to take control of our economic power and hold corporations to a higher standard.

Humanity's embrace of openness is the key to our success. The freedom to explore and exchange - whether it's goods, ideas or people - has led to stunning achievements in science, technology and culture. As a result, we live at a time of unprecedented wealth and opportunity. So why are we so intent on ruining it? From Stone Age hunter-gatherers to contemporary Chinese-American relations, Open explores how across time and cultures, we have struggled with a constant tension between our yearning for co-operation and our profound need for belonging. Providing a bold new framework for understanding human history, bestselling author and thinker Johan Norberg examines why we're often uncomfortable with openness - but also why it is essential for progress. Part sweeping history and part polemic, this urgent book makes a compelling case for why an open world with an open economy is worth fighting for more than ever.

The epic successor to one of the most important books of the century: at once a retelling of global history, a scathing critique of contemporary politics, and a bold proposal for a new and fairer economic system.

Thomas Piketty’s bestselling Capital in the Twenty-First Century galvanized global debate about inequality. In this audacious follow-up, Piketty challenges us to revolutionize how we think about politics, ideology, and history. He exposes the ideas that have sustained inequality for the past millennium, reveals why the shallow politics of right and left are failing us today, and outlines the structure of a fairer economic system.

Our economy, Piketty observes, is not a natural fact. Markets, profits, and capital are all historical constructs that depend on choices. Piketty explores the material and ideological interactions of conflicting social groups that have given us slavery, serfdom, colonialism, communism, and hypercapitalism, shaping the lives of billions. He concludes that the great driver of human progress over the centuries has been the struggle for equality and education and not, as often argued, the assertion of property rights or the pursuit of stability. The new era of extreme inequality that has derailed that progress since the 1980s, he shows, is partly a reaction against communism, but it is also the fruit of ignorance, intellectual specialization, and our drift toward the dead-end politics of identity.

Once we understand this, we can begin to envision a more balanced approach to economics and politics. Piketty argues for a new “participatory” socialism, a system founded on an ideology of equality, social property, education, and the sharing of knowledge and power. Capital and Ideology is destined to be one of the indispensable books of our time, a work that will not only help us understand the world, but that will change it.

The American Century began in 1941 and ended on January 20, 2017. While the United States remains a military giant and is still an economic powerhouse, it no longer dominates the world economy or geopolitics as it once did. The current turn toward nationalism and "America first" unilateralism in foreign policy will not make America great. Instead, it represents the abdication of our responsibilities in the face of severe environmental threats, political upheaval, mass migration, and other global challenges. In this incisive and forceful book, Jeffrey D. Sachs provides the blueprint for a new foreign policy that embraces global cooperation, international law, and aspirations for worldwide prosperity-not nationalism and gauzy dreams of past glory. He argues that America's approach to the world must shift from military might and wars of choice to a commitment to shared objectives of sustainable development. Our pursuit of primacy has embroiled us in unwise and unwinnable wars, and it is time to shift from making war to making peace and time to embrace the opportunities that international cooperation offers. A New Foreign Policy explores both the danger of the "America first" mindset and the possibilities for a new way forward, proposing timely and achievable plans to foster global economic growth, reconfigure the United Nations for the twenty-first century, and build a multipolar world that is prosperous, peaceful, fair, and resilient.

For decades, large dam projects have been undertaken by both nations and international agencies with the aim of doing good: preventing floods, bringing electricity to rural populations, producing revenues for poor countries, and more. But time after time, the social, economic, and environmental costs have outweighed the benefits of the dams, sometimes to a disastrous degree. In this volume, a diverse group of experts involved for years with the Nam Theun 2 dam in Laos issue an urgent call for critical reassessment of the approach to, and rationale for, these kinds of large infrastructure projects in developing countries. In the 2000s, as the World Bank was reeling from revelations of past hydropower failures, it nonetheless promoted the enormous Nam Theun 2 project. NT2, the Bank believed, offered a new, wiser model of dam development that would alleviate poverty, protect the environment, engage locally affected people in a transparent fashion, and stimulate political transformation. This was a tall order. For the first time, this book shows in detail why, despite assertions of success from the World Bank and other agencies involved in the project, the dam's true story has been one of substantial loss for affected villagers and the regional environment. Nam Theun 2 is an important case study that illustrates much broader problems of global development policy.

How poor countries can ignite economic growth without waiting for global action or the creation of ideal local conditions Contrary to conventional wisdom, countries that ignite a process of rapid economic growth almost always do so while lacking what experts say are the essential preconditions for development, such as good infrastructure and institutions. In Beating the Odds, two of the world's leading development economists begin with this paradox to explain what is wrong with mainstream development thinking--and to offer a practical blueprint for moving poor countries out of the low-income trap regardless of their circumstances. Justin Yifu Lin, the former chief economist of the World Bank, and Celestin Monga, the chief economist of the African Development Bank, propose a development strategy that encourages poor countries to leap directly into the global economy by building industrial parks and export-processing zones linked to global markets. Countries can leverage these zones to attract light manufacturing from more advanced economies, as East Asian countries did in the 1960s and China did in the 1980s. By attracting foreign investment and firms, poor countries can improve their trade logistics, increase the knowledge and skills of local entrepreneurs, gain the confidence of international buyers, and gradually make local firms competitive. This strategy is already being used with great success in Vietnam, Cambodia, Bangladesh, Mauritius, Ethiopia, Rwanda, and other countries. And the strategy need not be limited to traditional manufacturing but can also include agriculture, the service sector, and other activities. Beating the Odds shows how poor countries can ignite growth without waiting for global action or the creation of ideal local conditions.

This book is designed for a one-semester course in international economics, primarily targeting non-economics majors and programs in business, international relations, public policy, and development studies. It has been written to make international economics accessible to both students and professionals. Assuming a minimal background in economics and mathematics, the textbook goes beyond the usual trade-finance dichotomy to address international trade, international production, and international finance; and takes a practitioner point of view rather than a standard academic one, introducing students to the material needed to become effective analysts in international economic policy. This new edition features such additional topics as global production and global capital flows, migration, the Ricardian model, and international organizations like the IMF. Examples have been updated to include recent developments (Brexit, for example) and all charts include the latest data. The website for the text can be found at http://iie.gmu.edu.

As the glittering skyline in Shanghai seemingly attests, China has quickly transformed itself from a place of stark poverty into a modern, urban, technologically savvy economic powerhouse. But as Scott Rozelle and Natalie Hell show in Invisible China, the truth is much more complicated and might be a serious cause for concern. China's growth has relied heavily on unskilled labor. Most of the workers who have fueled the country's rise come from rural villages and have never been to high school. While this national growth strategy has been effective for three decades, the unskilled wage rate is finally rising, inducing companies inside China to automate at an unprecedented rate and triggering an exodus of companies seeking cheaper labor in other countries. Ten years ago, almost every product for sale in an American Walmart was made in China. Today, that is no longer the case. With the changing demand for labor, China seems to have no good back-up plan. For all of its investment in physical infrastructure, for decades China failed to invest enough in its people. Recent progress may come too late. Drawing on extensive surveys on the ground in China, Rozelle and Hell reveal that while China may be the second-largest economy in the world, its labor force has one of the lowest levels of education of any comparable country. Over half of China's population--as well as a vast majority of its children--are from rural areas. Their low levels of basic education may leave many unable to find work in the formal workplace as China's economy changes and manufacturing jobs move elsewhere. In Invisible China, Rozelle and Hell speak not only to an urgent humanitarian concern but also a potential economic crisis that could upend economies and foreign relations around the globe. If too many are left structurally unemployable, the implications both inside and outside of China could be serious. Understanding the situation in China today is essential if we are to avoid a potential crisis of international proportions. This book is an urgent and timely call to action that should be read by economists, policymakers, the business community, and general readers alike.

A Financial Times Best Economics Book of the Year A Foreign Affairs Best Book of the Year "A highly intelligent, fact-based defense of the virtues of an open, competitive economy and society." -Fareed Zakaria, Global Public Square, CNN "Amid a growing backlash against international economic interdependence, Clausing makes a strong case in favor of foreign trade in goods and services, the cross-border movement of capital, and immigration. This valuable book amounts to a primer on globalization." -Richard N. Cooper, Foreign Affairs Critics on the Left have long attacked open markets and free trade agreements for exploiting the poor and undermining labor, while those on the Right complain that they unjustly penalize workers back home. Kimberly Clausing takes on both sides in her compelling case that open economies are actually a force for good. Turning to the data to separate substance from spin, she shows how international trade makes countries richer, raises living standards, benefits consumers, and brings nations together, and outlines a progressive agenda to manage globalization more effectively, presenting strategies to equip workers for a modern economy, and establish a better partnership between labor and the business community.

'Had this been published pre-Covid, some of the recent f*ck-ups and waste might have been avoided. It's a must read for the public and private sector alike' Lt-Gen. Sir Andrew Gregory, SSAFA: The Armed Forces Charity 'Hilarious, enlightening and brilliant....This book will make you think twice about buying anything - but do buy this' Antonio Weiss, bestselling author of 101 Business Ideas That Will Change the Way you Work, and Director, The PSC Why is the Berlin Brandenburg Airport ten years behind schedule and nearly four billion euros over budget? And what possessed Kenya's government to spend a whopping $35 million on a chain link fence just six miles long? In this hilarious, fascinating and insightful expose, industry insider Peter Smith reveals the massive blunders and dodgy dealings taking place around the world as private companies and public sector bodies buy goods and services. A recent report showed that over 90% of procurement projects fail. So, why are so many billions wasted on ineptitude, mismanagement and, in some cases, fraud? By turns an entertaining account of some of the worst procurement scams in history and also a resounding lesson in how not to operate, Bad Buying offers clear and practical advice on how to avoid embarrassing mistakes, minimise needless waste and make sound, strategic procurement decisions on your next initiative.

How philosophical differences between Eurozone nations led to the Euro crisis-and where to go from here Why is Europe's great monetary endeavor, the Euro, in trouble? A string of economic difficulties in Eurozone nations has left observers wondering whether the currency union can survive. In this book, Markus Brunnermeier, Harold James, and Jean-Pierre Landau argue that the core problem with the Euro lies in the philosophical differences between the founding countries of the Eurozone, particularly Germany and France. But the authors also show how these seemingly incompatible differences can be reconciled to ensure Europe's survival. Weaving together economic analysis and historical reflection, The Euro and the Battle of Ideas provides a forensic investigation and a road map for Europe's future.

This is an accessible guide to the vocabulary used in trade negotiations. It explains about 3,000 terms and concepts in simple language. Its main emphasis is on the multilateral trading system represented by the agreements under the World Trade Organization (WTO). In addition it covers many of the trade-related activities, outcomes and terms used in other international organizations, such as the United Nations Conference on Trade and Development (UNCTAD), the World Intellectual Property Organization (WIPO), the Food and Agriculture Organization (FAO) and the Organisation for Economic Co-operation and Development (OECD). The last decade has seen considerable attention devoted to trade and investment facilitation, sustainability and the formation of free-trade areas in all parts of the world. This dictionary allocates generous space to the vocabulary associated with such developments. Additional areas covered include emerging trade issues and issues based particularly on developing-country concerns.

A powerful new understanding of global currency trends, including the rise of the Chinese yuan At first glance, the modern history of the global economic system seems to support the long-held view that the leading world power's currency--the British pound, the U.S. dollar, and perhaps someday the Chinese yuan--invariably dominates international trade and finance. In How Global Currencies Work, three noted economists provide a reassessment of this history and the theories behind the conventional wisdom. Offering a new history of global finance over the past two centuries, and marshaling extensive new data to test established theories of how global currencies work, Barry Eichengreen, Arnaud Mehl, and Livia Chit?u argue for a new view, in which several national monies can share international currency status, and their importance can change rapidly. They demonstrate how changes in technology and in the structure of international trade and finance have reshaped the landscape of international currencies so that several international financial standards can coexist. They show that multiple international and reserve currencies have in fact coexisted in the pastupending the traditional view of the British pound's dominance prior to 1945 and the U.S. dollar's dominance more recently. Looking forward, the book tackles the implications of this new framework for major questions facing the future of the international monetary system, from whether the euro and the Chinese yuan might address their respective challenges and perhaps rival the dollar, to how increased currency competition might affect global financial stability.

The Japanese way of work is notoriously 'different'. But is it Japan or Britain which is the odd man out? When originally published this was the first book to explore the real differences, through a point-by-point comparison of two Japanese factories with two British ones making similar products. In the first half of the book this comparison is pursued in systematic detail and clear illustration of the attitudes and assumptions which underlie what the author calls the 'market-oriented' system of Britain and the 'organization-oriented' system of Japan. One chapter shows how the employment institutions of the two countries fit into their political, family and educational institutions - an exercise in functionalist sociology which dominates t he later chapters and makes a major contribution to the discussion of development and of the 'convergence' of different systems.

Doing business in Europe is increasingly becoming an everyday reality for many companies, not only large corporations, but also small and medium-sized enterprises. European Business Environment offers students a practical introduction to how to create, manage and develop business opportunities in the European Union.

Taking a multidisciplinary approach to doing business in the EU, this textbook focuses on the European dimensions of economics, marketing and law. With case studies presented throughout the book, the relationship between business and the political institutions, policies and regulations of the European Union are explored.

This is an essential introductory textbook for students at both undergraduate and graduate levels in a wide range of degree and professional programmes, including Economics, MBA, Law and Marketing. It is of particular relevance to students interested in the European context of these disciplines and can be used as a core textbook for courses in European Integration or Business and International Environment in Europe and other parts of the world.