The expanding membership of the EU means significant changes for accession countries' international trade relations, affecting imports, exports, tax revenues, government expenditures and domestic regulatory regimes. There are also significant ramifications for the EU budget. This book is a valuable comprehensive tool kit for analysing the economic effect of EU accession, using examples from the most complex sector for both candidate countries and the EU itself - agriculture. The authors provide a complete set of market configurations with which to analyse harmonisation with the Common Agriculture Policy in both the long and short run. It also provides insights into the questions of regulatory harmonisation in areas of food safety, animal and plant health, the environment, animal welfare, technical standards and the protection of intellectual property. Background is provided on the EU and its policies, economic developments in transition economies and the accession process. The book also provides a unique insight into how negotiating positions can be developed. A wide audience will find this book of great value and interest including policymakers and analysts in governments and related think tanks, businesses and consultancy firms trading in the EU. Scholars and researchers of European studies, international trade and agriculture will also find the book invaluable.

For many academics, students, and professionals, the field of commodities is a black box. This book explores commodities in a holistic manner, presenting concepts from a multidisciplinary business and financial perspective, and offering a panoramic view of the global commodity business and markets. In this book, the author presents core issues related to global commodities with recent data including COVID-19. The book introduces the key physical commodities traded globally and some related issues such as the global supply chain, global trading, transportation, storage, and how to finance global commodity trades. Then, it discusses how global commodity businesses and traders manage global risks related to commodity production (generation or extraction), transportation, storage, the final delivery, and currency exchange. Additionally, the book discusses financial commodities, the origins of global commodity derivatives and exchanges, the rationale behind the birth of commodity futures and trading, hedging, speculation, financialization, and manipulation of commodity markets, and how financial trading is executed in real life. In the last section, the author also discusses sustainability issues related to global commodities and the financial valuation aspects of the global commodity businesses supported by examples from real cases with recent data.

Asia has shown the world what success in economic development looks like. From the amazing transformations of Japan, the Republic of Korea, and the other 'tigers' in the early 70s, to the more recent takeoffs of the People's Republic of China (PRC), India, and the leading economies in Southeast Asia, the region has prospered at a startling pace. Technologies were adopted, productivity raised, and export markets conquered. Billions were lifted out of poverty. What was once a backwater is now a global engine of growth. That roaring progress was, however, fueled by a lesser-known factor: borrowing. Governments, corporations, and households financed their path to prosperity with debt-lots of debt. Today, the volume of debt hanging over Asian economies is huge, in both absolute and relative terms. It was growing fast before the pandemic and is projected to grow even faster because of it. Demography is bound to make matters worse in the long term. How sustainable is this? What should policy makers do to keep Asia's finances stable? Should markets worry? These are the core questions of this book. Through a collection of chapters by renowned experts, a diagnosis of Asia's debt accumulation is offered. The approach is both country- and issue-driven, so both idiosyncratic and common elements can be identified. Matters like Japan's social insurance promises, the PRC's state-owned enterprises, the Pacific islands' aid dependency, and the saving habits of households in the Republic of Korea are dissected. As are trends that are present across countries, such as population aging, shrinking fiscal space, and contingent liabilities. This allows for a deeper understanding of what makes borrowing sustainable-or not. And it leads directly into policy recommendations, especially those involving the use of new financial instruments. The final product is a book whose comprehensiveness and practicality are unprecedented in the field. It will be equally invaluable for governments, investors, and scholars in Asia and beyond.

This book aims to integrate the notions of contagion in epidemiology and contagion in financial market crises to discover why emerging markets are so susceptible to financial crises. The author first provides a brief introduction of the contagious spill-over of recent financial market crises and models the pattern of these crises. He finds that the contagion between crises in emerging markets, such as that of the crises in Russia and Brazil in 1998-1999, is explicable, despite the fact that at first sight they appear to have little in common. Finally, Friedrich Sell integrates these findings to outline a proposal for a 'new international financial architecture'. This groundbreaking book will be of interest to scholars of financial economics, emerging economies and international money and finance.

In this book, Tran Van Hoa reveals how competition policy and competitiveness are essential for contemporary economic, financial and trade management as well as national and international governance. Containing new in-depth studies of these issues and their development, the book focuses on major Asian economies encountering increasing globalisation and the prevailing influence of the WTO. In major Asian economies, competition policy, while being important for trade, development and growth, is nascent. Competition Policy and Global Competitiveness in Major Asian Economies surveys the fundamentals of competition policy and investigates how, in practice, it has been developed in major economies in the Asian region. It also contains previous lessons and experiences in the formulation and implementation of competition policy and the pitfalls that may be avoided in similar future developments. Suggesting solutions in economic development and policy reform for Asian economies in the face of increasing globalisation and WTO membership requirements, this important book will be of enormous interest to economic policymakers and advisers, academics, government officials, business executives and tertiary students.

Renewed tensions between Russia and the West have fueled speculation that Moscow's apparent designs on the Arctic region could help stimulate a new cold war. Vladimir Putin's openly nationalistic ambitions, as demonstrated most vividly with his seizure of the Crimean Peninsula in 2014, might seem to justify such concerns. This book by a noted expert shifts the debate over Russia's strategy from what Moscow could do in the Arctic to the realities of what Putin's Russia likely will do. Buchanan challenges the widely held assumption that the Arctic is emerging as one of the most important strategic theaters in a potentially dangerous new cold war between Russia and the West. In fact, she explains that Putin's Arctic aspirations rely heavily upon continued international cooperation via commercial partnerships with Western energy firms and Eastern injections of capital-all of which could be at risk in a new cold war. Three main themes are intertwined throughout the book: Russian Arctic interests; Putin's vision to regain great power status; and the emerging narrative of a new cold war in the Arctic. Weaved together, they dovetail nicely to present a qualitative assessment of Russian Arctic strategy devoid of ideological biases. The unique departure for the book is that it makes the case that Russia's renewed great power ambitions under Putin are not the only explanation for Russian Arctic strategy. By exploring the broader context of Putin's actions, the book fills a gap in literature. It will be of interest both to specialists and to anyone interested in relations between Russia and the West as well as the numerous questions about how the Arctic region will be exploited-and who will do the exploiting.

In today's increasingly globalized environment, many economic fundamentals need to be reconsidered in order to regain stability in the global marketplace. One such consideration is the failing dynamics of the international tax infrastructure. Neoliberalism 2.0 brings a 21st century assessment of the Pigovian taxes, considering a completely new calibration of the international tax systems, inspired by the historically developed Pigovian tax model. The book considers the impact neoliberalism had and will have on regulatory infrastructure, democracy in an era of globalization and reduced legitimation of the national state. The Pigovian model brings home the often forgotten relationship between taxation (as a part of the regulatory sphere), macro-economics, and the political-philosophical context in which law and economics emerge. The model also takes into account the phenomena of globalization and financialization and is tested using the financial sector as an example. This book addresses the many challenges a Pigovian shift would imply for the sovereign and its national economies. Neoliberalism 2.0 demonstrates the ability to design a paradigm-changing alternative to the current tax infrastructure, while taking into account a low economic growth environment of the future, the implications of globalization and the changing relationship between citizens and their state.

This study provides up-to-date coverage of the most important domestic and external political and economic influences on Japanese trade policy, as well as the evolutionary dynamics of that policy in the post-war period.

In "Delivering Development," author Edward Carr calls into question the very universal, unquestioned assumptions about globalization, development, and environmental change that undergird much of development and economic policy. Here he demonstrates how commonly held beliefs about globalization and development have failed the global poor. Over his 13 years of working along what he calls "globalization's shoreline," a world region buffeted by the economic, political, and environmental decisions of those living in wealthier places, Carr has concluded that most experts misunderstand what they are trying to fix, and cannot tell if they are fixing it. "Delivering Development" is an eye opening, you-are-there book that compels the reader to question conventional wisdom, redefines what assistance to the developing world really means, and explores alternative ways of achieving meaningful, enduring improvements to human well-being.

A Basic Income Guarantee (BIG) is the unconditional government-ensured guarantee that all citizens will have enough income to meet their basic needs without a work requirement. Significant questions include: Why should we adopt a BIG? Can the U.S. afford it? Why don't the current welfare programs work? Why not guarantee everyone a job? Would anyone work if his or her income were guaranteed? Has a BIG ever been tested? This book answers these questions and many more in simple, easy-to-understand language.

"U.S. International CompetitivenesS" challenges the common assertions concerning causes of America's growing trade deficit. The authors' unique empirical analysis of industry specific trade flows using numerous explanatory variables provides a vigorous test of the view that deficit growth is primarily due to unfair foreign trade practices, overzealous antitrust laws, slack U.S. management, and other microeconomic factors. Their conclusions on the actual culprits offer a sobering reassessment of current and proposed trade policies. American and foreign public policy makers, as well as trade and industrial organization scholars, will find this volume to be enlightening and provocative reading.

The first two chapters establish the parameters and theoretical background for the study. The authors then review the microeconomic explanations for sudden trade deficit growth, identify industry characteristics included in the study, and specify the model to be tested. Turning to an examination of the empirical results, they initially look at whether changes in industry characteristics over time could have increased the deficit. They then highlight microeconomic explanations for changes in the U.S. trade balance. Concluding chapters present detailed case studies of particular industries as well as the policy implications to be drawn from the study.

"Why didn't the global economic crisis of 2008-9 lead to a massive outbreak of protectionism? Chad P. Bown and his associates perform the great service of taking a very close look at trade policies around the globe to identify where trade barriers crept up and where they didn't. This book will be required reading for anyone interested in understanding why the world trading system survived the shock so well. At the same time, it reinforces the importance of careful monitoring of country trade policies." Douglas A. Irwin, Robert E. Maxwell '23 Professor, Department of Economics, Dartmouth College "With the onset of the Great Recession, the world trading system faced a defining moment. How has it performed? Answers to this question will be debated for years, but this timely volume takes a critical first systematic step in advancing our understanding of how countries did - and did not - respond to economic collapse with import restrictions. The editor has brought together a world-class team of empirical trade researchers to explore this question for eleven major developed and developing countries, and the result is a collection of studies rich in detail and subtle in implication that will help shape the research agenda on trade policy for years to come. This is a mustread volume for anyone interested in the world economy, researchers and policy-makers alike." Robert W. Staiger, Holbrook Working Professor, Department of Economics, Stanford University "The years 2008 and 2009 witnessed a financial crisis, but not a trade crisis and a protectionist tsunami, in sharp contrast to the 1930s. Why such a resilience of the world trade regime? This book focuses on the contribution of 'temporary trade barriers' (antidumping, antisubsidy and safeguard measures) to such a resilience. It covers eleven of the largest economies, relies on a massive effort to have the best data available and provides a subtle mix of economic and legal analyses. It is definitively a must for everybody who wants to understand our troubled times." Patrick A. Messerlin, Professor of Economics, Groupe d'Economie Mondiale at Sciences Po

This is the fourth volume of Paul Davidson's major contributions to the economics and policy debates of our times, with writings on the debates surrounding the interpretation of the General Theory. The book contains professional articles, newspaper columns and papers that explain why Keynes' General Theory, as developed by Post Keynesian theorists, and provides important policy implications for the economic problems of the twenty-first century global economy.

Condon explains key aspects of NAFTA and WTO rules on trade in goods and services, foreign direct investment and intellectual property protection and shows how these rules affect global business strategies. Cases are used to illustrate how these agreements work and how they affect crucial business interests. He examines the political context in which the negotiation and enforcement of trade agreements take place and how business people can enforce the rules and influence the negotiations to support global business strategies. He also shows how NAFTA, WTO, and global business strategy affect some of the major issues of our time, such as AIDS, global security, environmental protection, globalization protesters, and illegal migration from Mexico to the United States.

Anyone doing business from, to, and within the NAFTA region will find this essential reading. NAFTA and WTO interact in ways that can make or break a company's strategy. Business strategists must consider the impact of today's rules and how future developments will affect them. However, as Condon makes clear, this book is about more than just business. The globalization of law and business affects the lives of everyone. Scholars, researchers, students, and international business professionals will find the book of value, as will those involved with financial services, international law, and international relations.

The first major comparative study of the causes and consequences of violent conflict that integrates and addresses the issue of self-determination. The authors show that with violent conflict in the developing world as the critical issue for the twenty-first century, and conflict prevention a central security problem for both the developed and developing world, self-determination movements can only be understood, and conflict prevented, in the context of global economic and cultural forces, and of local responses to them.

"With economic reforms underway for more than a decade in India, it is interesting to examine the responses of the Indian states to the newer challenges. This book addresses a wide range of issues, such as growth dynamics, income inequality, the fiscal behaviour of the states, the role of the banking sector, and the emerging institutional structure aimed at catering for social banking and strategies for agricultural growth"--Provided by publisher.

As the shock of the 2008 European financial crisis begins to subside, it is time for scholars to step back and analyze the crisis's causes and effects from a multidisciplinary vantage point. Europe in Crisis examines the current state of the European economy, society, and polity, both on the theoretical and political levels, by placing special emphasis on its current crisis. With important contributions from heterodox economists and radical social and political scientists, this innovative new edited collection seeks to evaluate past efforts and policies (mainly since World War II), criticize the failed neoclassical/neoliberal perspectives, and offer alternative strategies and policies to Europe's socioeconomic impasse and misery.

This book explores the history of the Organization for Economic Co-operation and Development (OECD) and its place within capitalist development. Since 1948, the OECD and its forerunner, the Organization for European Economic Cooperation (OEEC) worked on almost every subject of interest to national governments ranging from economic growth to education (PISA rankings), statistics, to the environment. With varying success the OEEC/OECD thus played a key role as a warden of the West and of capitalist development. However, it has remained one of the least understood international organizations. Bringing together a number of case studies by scholars from around the world, this first source-based volume on the history of the OEEC/OECD in global governance offers not only a new understanding of the Organization's key areas of activities, but also its multiple relations to member states, other international organizations, and private networks. The volume thus critically re-examines postwar international history, most importantly decolonization and the Cold War, through the prism of one international organization in its various contexts.

This book studies the sustainability and optimality of public debt under different scenarios: the closed economy, the small open economy, and a two-country setting. Sustainability refers to the existence and the stability of the long-run equilibrium. Optimality relates to the path of public debt that maximizes discounted utility. The analysis is conducted within the framework of the Solow model, the overlapping generations model and the infinite horizon model. The government can follow different strategies, it either fixes the deficit ratio or the tax rate. As a result, a fixed deficit ratio generally can be sustained. By contrast, a fixed tax rate generally cannot be sustained. Depending on the chosen fiscal strategy, there exists either an optimal deficit ratio or an optimal tax rate that maximizes the sum of consumption and government purchases per capita.

The unprecedented global economic growth of recent decades is closely tied to the trading relations that have developed in the postwar period. The authors of "The Protectionist Threat to Corporate America" explore the potential impact of protectionism on these relationships, arguing that trade barriers pose a danger not only to U.S. economic growth but to world trade as a whole. Gearing their discussion to the needs of the business community, they offer a clear, systematic explanation of the underlying principles that govern international trade, the consequences of protectionism, and practical strategies for developing effective competition.

The first four chapters examine the nature of trade, the power relations that influence it, and the dilemma created by trade deficits, monetary instability, and declining competitiveness. In the next section, Nevaer and Deck outline a four-point program designed to reverse the slippage in productivity and competitiveness that has eroded America's economic position in the world community. They present guidelines for creating a competitive advantage, maximizing strengths, utilizing a more dynamic management style, and harnessing the benefits of economies of scale and scope. In case studies of industries in the service sector and the high-tech field, Nevaer and Deck show how a competitive edge can be achieved by identifying opportunities and developing sound strategies for exploiting them. An important working tool for corporate managers, this book will enable business people to see beyond current political rhetoric and make realistic decisions on some of the most fundamental issues affecting the nation's economy.

This book explores the Arctic as a rapidly evolving phenomenon in international affairs of a rising number of stakeholders. For decades, Arctic studies used to be an affair of a relatively narrow group of experts from northern countries. This time is over due to a new Chinese Arctic policy, as well as growing regional interests from South Korea, Singapore, India and Japan. Contributors reflect on new roles for the Arctic region: both as a playground for the old school nation state competition and even confrontation, and a new source for international cooperation in energy, logistics and natural sciences. Climate change, political tensions and economic competition make Arctic a hotter venue of international relations. This new Arctic fever, studied through a comparative analysis of different regional agendas, especially with a focus on the US-China-Russia triangle, represents the main subject of our book, which will be of interest to scholars of geopolitics, of climate change, and of 21st century energy economics.

A careful basic theoretical and econometric analysis of the factors determining the real exchange rates of Canada, the U.K., Japan, France and Germany with respect to the United States is conducted. The resulting conclusion is that real exchange rates are almost entirely determined by real factors relating to growth and technology such as oil and commodity prices, international allocations of world investment across countries, and underlying terms of trade changes. Unanticipated money supply shocks, calculated in five alternative ways have virtually no effects. A Blanchard-Quah VAR analysis also indicates that the effects of real shocks predominate over monetary shocks by a wide margin. The implications of these facts for the conduct of monetary policy in countries outside the U.S. are then explored leading to the conclusion that all countries, to avoid exchange rate overshooting, have tended to automatically follow the same monetary policy as the United States. The history of world monetary policy is reviewed along with the determination of real exchange rates within the Euro Area.

The European Economic and Monetary Union comprises twelve member states and forms a currency area of considerable size and, until now, remarkable stability. Still, however, discussion is going on whether it can survive as an institution providing the highest degree of monetary integration which is a single monetary policy for a group of member countries with divergent economic performance. It is also questioned whether it can withstand financial crises in international markets and contribute to the stability of the global financial system. The book addresses these questions with special emphasis on the need for new forms of economic policy coordination.

"The Grand Convergence describes, evaluates, and advocates for sweeping changes in our global economic and political structure that would ensure the prospects of global human civilization as we confront an uncertain and hazardous future. It argues both for the Marshall Plan as well as for a limited federal world government to replace the quasi-anarchic international regime of today"--Provided by publisher.