In March 1998 professional colleagues and students of T.N. Srinivasan joined together at the Festschrift Conference at Yale to honor his work. The book contains nineteen of the contributions which were presented, reflecting the four closely related dimensions of trade and development.

Part I deals with the various dimensions of the issue of growth with particular emphasis on technology choice as well as saving and fertility behavior in Ramsey-type models. Part II moves into the more applied issues of International trade, including the impact of North-South trade on Northern wages, the reasons for the failure of pegged exchange rates in the South, as well as the pros and cons of regional vs. multilateral trading arrangements. Part III presents a variety of theoretical and applied approaches to analyze Indian planning and development experience. The final section, Part IV, addresses the general topic of market failures and economic structure.

This book contains papers by an array of eminent economists and contains a good blend of theory and applied work. Professional economists, policy makers in developing and donor countries and personnel of international organizations will find this a useful tool.

The book examines the rapid growth and dramatic changes in capital flows globally and to emerging markets. In the context of relevant economic theory, it analyses benefits and costs of large and volatile capital flows to developing countries; the latter includes damaging currency crises as the Mexican and East Asian economies. The book makes innovative proposals on how best national governments - and especially - international organisations can avoid such crises.

Regionalism and World Order assesses the origins, significance and likely evolution of the trend towards regionalism within the world order. It analyses how states have been responding to the end of US hegemony and assesses the extent to which new regional blocs are emerging and their nature. These questions are analysed through detailed case studies of the three most advanced regions of the world economy - the Americas, the European Union, and East Asia - firstly from the standpoint of the 'core' state or states, and secondly from that of the 'peripheral' states.

Analysing the experience of developing countries in recent years and the deadlock in trade negotiation in WTO, the author argues that the theories and practices of trade and industrial policies are surrounded by a number of fallacies: that universal and across-the-board trade liberalisation is to the benefit of all developing countries, irrespective of their level of development; that the Invisible Hand of free market alone is conducive to industrialisation, that the infant industry argument is against export expansion; that developed countries industrialised without government intervention; that WTO rules are conducive to development.

International Economics is unique despite the existence of numerous books of the same title. It is true that no one volume can capture the entire state of the art of the subject, but individuals can apply their own perspectives to identify crucial issues in the development of the field. Therefore, rather than instructions to prepare "surveys" of subfields within international economics, the contributors to this book were informed as follows: Your essay should present an affirmative but constructively critical look at your subject. It is not meant to be a survey. Rather, your task is to pinpoint crucial areas of development, to offer a critical evaluation of what's going on in the field and where it might go. Your contribution would be your own personal statement of how you see things. It should be written at the professional level. Beyond these general guidelines, you may develop your essay as you see fit. How much of "international economics" should be assigned to each author and how many contributions the book should have, required careful consideration. Traditionally, international economics has been divided into pure theory and monetary theory, suggesting a simple division of the field; but this dichotomy has been overturned by the emergence of litera ture that overlaps both theories. An opposite approach would have been to separate international economics into twelve to fifteen areas, each with a contributor. This procedure divides the field into too many parts and, consequently, overlapping threads of development would be ignored."

Throughout the ages money was a prerogative of national sovereignty. Currency management was the responsibility of governments.;After World War 2 Bretton Woods provided the framework for intergovernmental monetary cooperation until, in the early seventies, the banking community, using the Eurodollar as an international medium of exchange, forced governments to adopt a regime of floating rates.;The book describes how, in the 1950s, through an improbable chain of events, Soviet-owned banks established in Paris and London spawned the Eurodollar market, which has come to dominate world finance.;The Euromarket has given rise to a new breed of financiers and currency traders who radically changed the nature of international banking. The book relates the collision between sovereign states and stateless economic forces, the struggle for supremacy between the political authorities and the international financial community, their strategies and tactics, their strengths and weaknesses.

Protectionism is a major concern in the international trading community. The question that arises is how the emergence of protectionism can be prevented and whether regional trade arrangements are a suitable mechanism to enforce liberal trade policies. This book examines these issues, concluding that the success of regional trading arrangements in enforcing good trade policies depends on the quality of the regional agreement and its implementation--simple free trade area is unlikely to be sustainable in the long-run without firm commitments of members to deeper integration.

The goal of the volume is to provide some background on the various financial market segments of the Asian Pacific region. An understanding of institutional detail (size and scope) of the relevant markets affords a view that lends or detracts from the credibility of intermarket comparisons. An exposure and understanding of institutional detail supplies information that may bear on the statistical results of the empirical analysis. The vital roles played bycapital markets of pricing capital, issuing new shares, providing a liquidity-creating secondary feature, serving as a vehicle for asset transfer, and providing a linkage to international capital markets are as important to emerging markets as to developed countries.

'... a well written book ... covering ... a vast amount of material ... well balanced between the theoretical and applied works. The authors are judicious and fair in providing a balanced treatment of the two alternative theories of growth performance: supply-oriented and demand-oriented. The book will serve as a guideline to researchers and policymakers ... as a textbook for upperdivision undergraduate and graduate courses.'- Kashi Nath Tiwari, Kennesaw State College This is the first book of its kind to argue in a consistent and comprehensive way the idea that a country's growth performance cannot be properly understood without reference to the performance of its tradeable goods sector and the strength of its balance of payments. It puts forward a demand orientated theory of why growth rates differ between countries where the major constraint on demand is the balance of payments. The book is critical of neoclassical growth analysis and provides an alternative theory of growth performance to the supply orientated approach of neoclassical theory. There are theoretical chapters comparing and contrasting neoclassical growth analysis with the new demand orientated approach, and empirical sections which apply the new model to regions and countries, including two case studies of the UK and Australia.

This work grew out of a series of investigations begun by the authors in 1980 and 1981. Specifically the authors pursued two lines of inquiry. First, to advance the state of the theoretical lit- erature to better explain the crises of liberalization which seemed to be afflicting the third world in general and Latin America in particular. To do this, several different kinds of models were in- vestigated and adapted. These are presented in Chapters 2, 3 and 5. Secondly an analysis of the empirical evidence was conducted in order to gain insight into the processes that were thought to be occurring and the theoretical models that were being developed. Some of this work appears in Chapters 3, 4, 5 and 6. Other work by the authors on these issues has been published elsewhere and is referenced herein. There are a great many people whose work and whose com- ments have influenced this work. We would like to especially thank Guillermo Calvo, Michael Connolly, Sebastian Edwards, Roque Fernandez, Michael Darby, Robert Clower, Neil Wallace, John Kareken, Paul McNelis, Jeffrey Nugent, Jaime Marquez, Lee Ohanian, Leroy Laney, Jorge Braga de Macedo, Dale Henderson, vii Matthew Canzoneiri, Arthur Laffer, Marc Miles, and George Von Furstenberg whose ideas and comments gave rise to much of our work. We would like to thank Suh Lee for his assistance with the computations in Chapter 5.

Economics has the power to make the world a better, happier and safer place: this book shows you how.

Our world is in a mess. The challenges of climate change, inequality, hunger and a global pandemic mean our way of life seems more imperilled and society more divided than ever; but economics can help!

From parenting to organ donation, housing to anti-social behaviour, economics provides the tools we need to fix the biggest issues of today. Far from being a means to predict the stock market or enrich the elite, economics provides a lens through which we can better understand how things work, design clever solutions and create the conditions in which we can all flourish.

With a healthy dose of optimism, and packed with stories of economics in everyday situations, Erik Angner demonstrates the methods he and his fellow economists use to help improve our lives and the society in which we live. He shows us that economics can be a powerful force for good, awakening the possibility of a happier, more just and more sustainable world.

Since the end of the Cold War, the study of intercultural relations has become one of the most popular topics in the field of global politics and economics. This book presents a methodological framework for the analysis of intercultural issues frequently misinterpreted by existing theories. The book uses a challenge-and-response theory of cultural development to examine the relationship between different natural disasters and threats and the developments of ancient civilizations. The spatial interaction of ancient civilizations is assessed and some theoretical patterns of intercultural influences are presented with a focus on the Chinese, Egyptian, Indus, and Mesopotamian civilizations. Using the development of China as a case study, and on the basis of a simplified spatial model, the optimal spatial structure and size of culture areas are mathematically solved, and the political economy implications to the interactions between cultures differing in size are illustrated.

The book also examines various aspects of intercultural economic influences, such as those of culture on international trade. The empirical results suggest that high-income trade partners are less sensitive than low-income trade partners to the measures of cultural dissimilarity which block international trade. The existing literature relating to the determinants of economic growth treats explanatory variables such as income inequality and cultural diversity separately. This book investigates whether there are any conditions under which income inequality and cultural diversity could encourage economic growth and provides evidence from a broad panel of nations, which reveals that economic growth is quite independent from the variables of inequality and cultural (linguistic and religious) diversity. Finally, this book provides suggestions for how cultural influences can benefit developing economies both large and small.

Leonard Seabrooke argues that they key to understanding 'change' in international finance in the last forty years rests with US structural power. He demonstrates for the reader how structural power draws from embedded state-societal relations and how the US promotion of 'direct financing' has encouraged Britain, Japan, and Germany to 'catch-up' to US-led innovations. In drawing considerably on multidisciplinary insight, the book will benefit all those who wish to understand more about 'change' in the international political economy.

The book focuses on analyzing the turbulent situation in the Indian Ocean from the political, economic and security perspectives. It discusses topics ranging from the major powers' great game in the Indo-Pacific and China's countermeasures, to China and India's reciprocal demands and potential conflicts in the Indian Ocean. It also addresses the relations between the Indian Ocean region and China's economic security and provides an in-depth analysis of the prospects of the 21st Century Maritime Silk Road.

This book analyzes the role played by initial endowments and colonizer identity in seeking to explain institutional development in former colonies. It presents a model of two styles of imperialism that integrates the colonial origin and endowment views explaining current institutions. The authors argue that Great Britain and Portugal adopted an 'economically-oriented' style, which was pragmatic and sensitive to initial conditions. For this style of imperialism the endowment view is applicable. In contrast, France employed a 'politically-oriented' style of imperialism, in which ideological and political motivations were more present. This led to a uniform colonial policy that largely disregarded initial endowments. In turn, the case of Spain represents a hybrid of the two models. The empirical analysis presented here reveals a remarkable degree of heterogeneity in the relationship of endowments and colonizer identity with current institutions.

Worldwide conflict continues to force the migration of citizens seeking safety, shelter, and stability. This conflict-induced migration has social and economic impacts not only on the individuals and families that are forced to flee but also on the communities and environment. Examining the Social and Economic Impacts of Conflict-Induced Migration is an essential reference source that examines the theoretical and practical basis of induced migration in regions under conflict and the impact of sociology and economy on this type of relocation and how it can be managed for global sustainable peace. Featuring research on topics such as conflict theory, media agenda, and state economics, this book is ideally designed for sociologists, economists, policymakers, government functionaries, peace keepers, non-governmental organizations, academicians, researchers, and students.

The surge in outward foreign direct investment (FDI) by Indian firms in the past ten to fifteen years raises a host of interesting questions. This edited volume is a valuable resource for all scholars interested in India's emerging multinational enterprises. The contributors explore the rapid growth of Indian multinationals and provide valuable insights into the patterns and trends of their outward investments and the factors that led to their emergence in the global FDI market. They also look at their continuously evolving strategies the in global economy and what the outcome has been for their host country in trade, technology, and employment.

Public-Private Partnerships (PPPs) have gained a renewed momentum in recent years, and have come to be viewed by governments and funders alike as a silver bullet for infrastructure development and public service provision. Critiques of the corporate capture of development are well established, yet until now the urgent question of the impacts of PPPs on women's human rights around the world has remained under-explored. This open access book aims to fill the gap, providing new insights from a set of case studies from across the Global South. Bringing an intersectional feminist approach to PPPs, these cases enable analysis that can inform advocacy and activism, whilst challenging dominant narratives and resisting the negative impacts of PPPs on women and historically marginalized communities' human rights. Widely advocating for stronger regulatory frameworks and institutions, and indicating how changes could be implemented, the examples analysed cover a range of sectors including health, energy, and infrastructure from countries including Ethiopia, Peru, India and Fiji. The eBook editions of this book are available open access under a CC BY-NC-ND 4.0 licence on bloomsburycollections.com. Open access was funded by Development Alternatives with Women for a New Era (DAWN).

This book explains what the internationalization of banking and finance means, and examines its extent and the reasons it has developed. The advantages and disadvantages of the new situation-and what is yet to come-are neatly sketched, along with the policy problems for national governments and international bodies.

A flagship annual document of the Ministry of Finance, Government of India, the Economic Survey reviews the developments in the Indian economy over the previous twelve months, summarizes the performance on major development programmes, and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term. This document is presented to both houses of Parliament during the Budget Session, tabled a day ahead of the Union Budget. The survey is the most authoritative and updated source of data on Indias economy. It highlights a growth rate of 7.6% hailing India as a bright spot amidst a slowing global economy. Elucidating further, it identifies wide-ranging challenges and summarizes policy and performance of the government, while advocating inclusive development in key sectors with the right strategies, policies, and interventions. The focus is on ensuring macro-economic stability and prudent fiscal management through a fresh set of economic reforms and policy initiatives to counter risks of global slowdown.

The objective of the Single European Act is to establish a European market without barriers, thereby enabling the free movement of goods, persons, services and capital. To achieve this end the European Commission has put forward some 300 directives to be implemented by 1 January 1993. The contributors to this volume offer a critical evaluation of the likely effects of these measures for Europe as a whole and for the UK economy, in particular.

The book examines the expansion of investment and trade between China and New Zealand, and its changing composition within the political framework, especially the 2008 Free Trade Agreement. Particular attention is paid to China's volatile agrifood market, where New Zealand dairy products play an important role for both countries. The New Zealand-China economic relationship - asymmetrical and complementary, but with increasing competition from domestic production - is a case study of the complexities of globalization and the interplay of economic imperatives, political pressures and cultural factors. China is now New Zealand's main economic partner and a major source of migrants, tourists and students. This proposed study on how New Zealand and China manage their grave dissimilarities and disparities in growing, ever close economic ties will be of interest to academics, policy analysts, economic/trade decision makers, and business practitioners.

The present volume contains the texts of the papers and criti cal commentary presented at the one-day conference "Financing the world economy in the nineties" at Tilburg University (23 March 1988). This conference was organized by the Post-graduate School of Banking and Finance of "The Tilburg Institute of Advanced Studies" (T .I.A.S.) which is closely associated to Tilburg University. It should be borne in mind that all the chapters were written before March 1988. Although some were revised later, none of the authors has been asked to include develop ments which have occurred since. To achieve a better understanding of the current financial imbalances in the world economy and its consequences and to discuss the alternatives to correct these imbalances, this conference brought to gether outstanding authorities from the academic world, from the inter national supervisors, and from the industrial companies and the banks. After the editor's introduction about the external disequilib ria in the world economy and the burden of economic adjustment, Chapter 1 is the text of the opening address by Dr. Witteveen. He calls atten tion to the central issue, which financing needs that we can see now may persist into the nineties and how can they be met? In this context he mentions the U.S.-current account deficit, the need for stable exchange rates and the international debt problem."

This work examines the role of comptetence, organization and strategies of firms in industrial dynamics linking eceonomic, management and historical persectives. In the first part of the book, a series of economic and managerial contributions discuss the concepts, dimensions and effects of routines, competence, adaptation, learning, organizational structure and strategies in the evolution of industrial enterprises at the theoretical and empirical levels. In the second part of the book, a series of historical papers examine these issues in a long-term perspective for the United States, Japan and several European countries.