Most discussions of India's substantive economic growth since the 1990s tend to focus on national level statistics or on particular sectors such as the financial and call service sectors or on the pharmaceutical industry. But with a population of 1.2 billion, India demands to be treated like a collection of individual "countries, " rather than a unified nation. Ten of its states have populations equaling or exceeding that of the United Kingdom. If the state of Uttar Pradesh were a country, it would be the fourth largest, behind China, India, and the United States. These facts pointedly tell us that if we are to understand the ongoing experiment in economic reforms and poverty alleviation, we must study India at the level of the state. In this spirit, State Level Reforms and Growth and Development in Indian States provides the first-ever comprehensive analysis of growth at the highly diverse state level. The authors argue that when the national government loosened its stronghold on industry and services, state governments were able to shape the fortunes of their citizens through state-level policy reforms. Because of this, every Indian state experienced accelerated growth, unlike China during the first two decades of its development when the eastern half flourished as the western half lagged. Every Indian state has grown faster in the last decade than any other decade in the post-independence era. In fact, some of the poorest states, notably Bihar and Orissa, have been growing the fastest. Professors Panagariya and Chakraborty and Dr. Rao refute the common assumptions that growth has not occurred or that poverty has not been reduced in all Indian states. The recent reforms have also led to improved access in every state to basic amenities such as permanent houses, electricity, water, and sanitation. These accomplishments notwithstanding, regional inequality on a per capita basis has grown as well. Reforms in state-controlled sectors such as agriculture, industry, healthcare, and education have not advanced as far as some analysts previously predicted. The authors outline the reforms in these areas and draw on the experience of states that have successfully carried out some of them. The authors pay special attention to reforms in the areas of education and health while recognizing that the Indian constitution vests in the states much of this legislative and other authority and while considering the real absolute rise in income, literacy, and health status across all the states.

International Financial Reporting Standards (IFRS) are internationally-recognized financial reporting guidelines regulated by the International Accounting Standards Board (IASB) to ensure that uniformity exists in the global financial system. In addition to regulating financial reporting, the adoption of IRFS has been shown to impact the flow of foreign capital and trade. Economics and Political Implications of International Financial Reporting Standards focuses on the consequences and determinants of the adoption of the International Financial Reporting Standard (IFRS), which has remained a top issue in International Accounting. This timely publication brings to the forefront issues related to the political and economic influences and impacts of IFRS in addition to providing a platform for further research in this area. Policy makers, academics, researchers, graduate-level students, and professionals across the fields of management, economics, finance, international relations, and political science will find this publication pertinent to furthering their understanding of financial reporting at the global level.

Agricultural Policy Reform and the WTO provides insights into the effects of the Uruguay Round WTO agreement on agricultural policy and global markets, and considers what is at stake in the Doha Development Agenda Round. The contributors to the book deal with a broad range of topics, including the evolution of domestic and trade policies in the last ten years across developed and developing countries and proposals made in the agricultural negotiation regarding market access, export subsidies and domestic support; new issues emergent in agricultural trade negotiations are also explored, including: * interaction between national regulatory systems and the deepening integration of the international trade regime * intellectual property rights protection * food safety * quality regulations * antidumping trade protection. Finally, the future of international trade relations is discussed, in particular the implications of enforcing domestic regulations to comply with international rules. This rich collection of research and analysis will be invaluable to researchers, academics and policymakers with an interest in agricultural policy analysis and international economics.

Visions for the Global Economy explores a collection of global issues that are vital to every student of world affairs. It addresses key topics on the global stage, focusing on the foundational aspects of these global issues. It gets to the heart of diverse arguments that create roadblocks to progress in the global economy and combines current affairs with key turning points in history.

This guide examines topics of the global economy at their core, as each chapter traces the storyline of one issue. Global issues and the decisions world leaders make are complex; and there never is one clear reason as to why something exists or why something takes place.

Visions for the Global Economy also considers economic growth, global economic governance, and political economy, providing a solid base for understanding the increasingly complex world today. The global economy has changed exponentially over the last decade and a half. Today, students cannot exclusively study politics or economics. They need to study both and have a good grasp of the political economy to succeed in today's world.

This authoritative collection brings together major articles written by leading economists, political scientists and legal scholars to analyse the complexities of the modern global system of intellectual property rights (IPRs) and its relationship with the WTO. The papers selected consider the role of IPRs in the knowledge economy, itself a force for rapid globalisation. They first place IPRs into context as a trade issue and their controversial role within the WTO. Several articles analyse the ability of IPRs to encourage innovation and support markets, emphasising controversial problems in developing countries: special attention is given to the role of patents in biodiversity and essential medicines. Additional contributions provide important theoretical and empirical perspectives on the economics of IPRs in the global economy, including effects on trade, investment, innovation, growth, and technology policies. This authoritative volume will be an important source of reference for scholars and policymakers seeking to understand the development and trade impacts of intellectual property protection. 21 articles, dating from 1991 to 2003

This significant new book provides a succinct overview of the essential policy issues surrounding capital liberalization. The book compares the experiences of transition economies in Europe with those of advanced nations, allowing the reader to examine the changing international economic and financial environment within which transition countries have to liberalize. The book first deals with the critical issues concerning liberalization, including sequencing and financial market development. The authors move on to present an overview of the early liberalization experiences of advanced economies and East-Asian countries. This provides the context for a series of chapters reviewing liberalization progress in transition economies, in which international experts and senior officials analyze their own countries' experiences. The authors also emphasise the importance of financial market reform and the construction of a sound institutional framework if countries are to attract and productively use capital inflows. A stable financial system, whilst not infallible, is also crucial for minimizing the risk of financial crises of the type experienced by a number of countries during the 1980s and 1990s. The comprehensive scope of the subject matter and international contributions from a range of different perspectives will ensure this book is warmly received by academics and researchers with an interest in EU accession, transition economics and financial market reform. It will also serve as a useful guide to governments involved in capital liberalization in other parts of the world such as Latin America and Asia.

This book analyses actual and potential normative (whether legislative or contractual) conflicts and complex transnational disputes related to state-controlled enterprises (SCEs) operations and how they are interwoven with the problem of foreign direct investment. Moreover, SCEs also fall within the remit of international political economy, international economics and other SCE-related fields that go beyond purely legal or regulatory matters. In this connection, research on such economic and political determinants of SCE's operations greatly informs and supplements the state of knowledge on how to best regulate cross-border aspects of SCE's and is also be covered in this book. The book also aims to analyse the "SCE phenomenon" which includes a wide panoply of entities that have various structures with different degrees of control by states at the central or regional level, and that critically discuss the above-mentioned overlapping legal economic and political systems which can emerge under various shades of shadows casted by governmental umbrellas (i.e., the control can be exercised through ownership, right to appoint the management, and special-voting-rights). The chapters in this book are grouped, so as to address cross-border investment by and in SCE, into four coherent major parts, namely --- (i) the regulatory framework of state capitalism: laws, treaties, and contracts; (ii) economic and institutional expansion of state capitalism; (iii) the accountability of state capitalism: exploring the forms of liabilities; and (iv) regional and country perspectives. Contributions address the core theme from a broad range of SCE and international economic regulations, including but not limited to competition law, WTO law, investment law, and financial/monetary law. They also cover the new emerging generation of Free Trade Agreements (EU-Vietnam FTA, EU China investment treaty, Regional Comprehensive Economic Partnership; and the coordination between treaty systems). The book is a valuable addition and companion for courses, such as international trade law, international law of foreign investment, transnational law, international and economic development, world politics, law of preferential trade agreements, international economics, and economics of development.

Although the full extent of the potential damages from global warming remain unknown, scientists have long argued that action should be taken now to mitigate any possible adverse consequences. However, in making such policy recommendations, economic arguments need to be considered as much as scientific ones. This volume examines the appropriate economic incentives for implementing policy to mitigate climate change and then exposes the flaws in current international agreements. The book begins by providing the economic foundations for understanding climate change. It examines how Kyoto's flexibility mechanism departs from more efficient and less-costly approaches for reducing atmospheric carbon dioxide, and highlights the problems that terrestrial carbon credits pose for emissions trading. Unique case studies of Canada, Japan and The Netherlands indicate that most countries will be unable to meet their own Kyoto obligations. The author then uses an economic analysis of the potential damages to show that even though some countries will experience a detrimental effect from climate change, the majority will actually benefit. In this way, he clearly demonstrates that not only will current policies do little to avert global warming, most countries will also have less incentive to sign up to any future international agreements. Academics, economists and policymakers involved in the climate change debate will find this succinct yet comprehensive analysis of the economic instruments available for mitigating climate change to be essential reading.

The legal, political and economic rationales that underpin trade policy are reflected in the establishment and implementation of EU trade relations with the rest of the world. This comprehensive Handbook provides readers with a multidisciplinary overview of the major perspectives, actors and challenges in contemporary EU trade relations. Changes in institutional dynamics, Brexit, the politicisation of trade, competing foreign policy agendas, and adaptation to trade patterns of value chains and the digital and knowledge economy are reshaping the European Union's trade policy. The authors tackle how these challenges frame the aims, processes and effectiveness of trade policy making in the context of the EU trade relations with developed, developing and emerging states in the global economy. This Handbook presents students and practitioners with an accessible introduction to the policy processes in the EU?'s trade policy. Policy-makers, especially those outside of the EU, will also gain key knowledge regarding the trade policies of the EU by reading this. Contributors include: J. Adriaensen, L. Choukrounel, P. De Lombaerde, F. De Ville, M. Eagleton-Pierce, J. Eckhardt, M. Filadoro Alikhanoff, C. Gammage, M.J. Garcia, T. Heron, W.A. Kerr, S. Khorana, L. Kuhnhardt, D. Martens, P. Murray-Evans, L. Nilsson, J. Orbie, L. Perdikis, N. Perdikis, G. Rosen, G. Siles-Brugge, A. Smith, M. Smith, N.R. Smith, M. Shu, L. van der Putte, S. Velluti, W.G. Voss

The Polar North is known to be home to large gas and oil reserves and its position holds significant trading and military advantages, yet the maritime boundaries of the region remain ill-defined. In the twenty-first century the Arctic is undergoing profound change. As the sea ice melts, a result of accelerating climate change, global governance has become vital. In this first of three volumes, the latest research and analysis from the Fridtjof Nansen Institute, the world's leading Arctic research body, is brought together. Arctic Governance: Law and Politics investigates the legal and political order of the Polar North, focusing on governance structures and the Law of the Sea. Are the current mechanisms at work effective? Are the Arctic states' interests really clashing, or is the atmosphere of a more cooperative nature? Skilfully delineating policy in the region and analysing the consequences of treaty agreements, Arctic Governance's uncovering of a rather orderly 'Arctic race' will become an indispensable contribution to contemporary International Relations concerning the Polar North.

In the age of globalisation, goods, services, labour and capital are crossing international borders on a scale never before known. They are creating a nationless market. Governed by both the invisible hand of business and interest and the visible hand of authority and direction, a world market can be a free-for-all, but it can also be constrained by the national interest of countries that differ greatly in their social institutions and material circumstances. This book provides a lucid and comprehensive account of contemporary international political economy. Beginning with the ideological underpinnings, it examines the globalisation of trade in goods and services and labour and capital. It relates the free economic market to social consensus and political regulation, both within sovereign countries and at the supra-national level. The book is comprehensive and interdisciplinary, incorporating philosophical, political, social and economic insights on an international scale and applying them directly to the ongoing phenomenon of globalisation. Topical and non-nation specific, it covers the WTO, EU, the transfer of technology, the multinational corporation, the exchange rate, free versus regulated trade, the status of agreements and blocs, as well as contemporary issues such as populism, xenophobia and rapid economic growth in both rich and poor nations. Accessible to specialists, students and the informed reader alike, State and Trade offers wide-ranging analysis of the politics of trade in goods and services, international investment and the migration of labour across the globe.

Economics of International Business sets out a new agenda for international business research. Mark Casson asserts that it is time to move the subject on from sterile debates about transaction cost economies and resource-based theories of the firm. Instead of focusing on the individual firm, the new agenda focuses on the global systems view of international business. A static view of the firm's environment is replaced by a dynamic view which highlights the volatility of the international business environment. Coping with volatility requires entrepreneurial skills, flexibility and the need to synthesize information on a global basis. To co-ordinate the global system properly, entrepreneurs must co-operate through social networks of trust, as well as competing. Constructing a network of joint ventures, it is argued, is simply not enough. Building on his previous book, The Organization of International Business, Mark Casson shows that with suitable modifications, the methods of economics can be used to analyse all of these issues in a rigorous way. The tools of 'business strategy' are too clumsy to address the more subtle issues, whilst descriptive approaches fail to bring key issues into sharp relief. This book is indispensable reading for all researchers and practitioners in the international business field as well as economists and academics alike.

In the global financial crisis, competitiveness gaps between Euro area countries caused additional strain. This book discusses the various dimensions of competitiveness, with a special focus on emerging Central, Eastern and Southeastern European countries. For Europe to proceed with convergence and to resist global competitive pressures, it argues that policies to boost productivity and innovation are vital. With products becoming ever more technically sophisticated and global interconnectedness on a relentless rise, it also demonstrates that quality, customer orientation and participation in global production networks and global value chains are at least as important as relative costs and prices. This book delves into the literature and dissects the complexity of competitiveness, aiming to offer tangible policy advice focussed on how well the European economy is performing and how it could improve. The key findings of the book, from a mix of academics and policymakers, constitute a state-of-the-art assessment of competitiveness that may change traditional perceptions of how economies can return to a path of sustainable growth. Comprehensive and forward-looking, this enlightening book will appeal to academics, researchers and policymakers with a particular interest in European economies and economic integration. Contributors include: D. Andrews, B.B. Bakker, I. Begg, M. Belka, K. Benkovskis, Z. Darvas, A. de Serres, M. Gradzewicz, D. Hanzl-Weiss, B.S. Javorcik, A. Kosior, K. Krogulski, M. Landesmann, E. Nowotny, B. Pinto, D. Ritzberger Grunwald, M. Rubaszek, P. Samecki, M. Silgoner, P. Sinclair, K. Vondra, B. Vujcic, J. Woerz, L. Yueh

Korea has been at the centre of intense debate concerning the role of government in economic development. Taking an in-depth approach, this book analyses the path of Korea's industrial technology development. In contrast to many previous studies on Korea, the author argues that the role of foreign multinational enterprises has been significant while the government's was surprisingly limited in scope. The author addresses three main questions: * How was Korea able to develop so effectively despite the low inflow of foreign technologies and capital? * What is the role of multinational enterprises in 'teaching' technology to the firms from developing countries? * What has been the influence of public policy on Korea's technology development? The author demonstrates that the key to the Korean electronics industry's spectacular growth has been through its participation in and learning from an inter-firm arrangement called 'original equipment manufacturing' (OEM) arrangement, and a number of firm-level case studies support this argument. This book will be of special interest to scholars of industrial and development economics, innovation and Asian studies. It will also be of use to policymakers responsible for industrial policy development.

In this book a distinguished group of international contributors, from both developing and higher income countries, identify and discuss major social conflicts, labour and distributional concerns, environmental issues and impacts arising from the very rapid increase in globalisation experienced since the early 1970s. Issues considered include possible alternatives to globalisation; cultural and linguistic inequalities associated with globalisation, consequences of growing regionalism and economic inequality between and within nations. Poverty, international migration, biodiversity conservation, natural resource sustainability, and global trade in genetically modified organisms (GMOs) are also discussed. A substantial introductory chapter provides a significant overview of the rate and process of economic globalisation and integrates the contributions and their interconnections for the reader. Economic Globalisation offers policy proposals and responses and represents divergent views and rigorous theoretical analysis. Economists, particularly those with an interest in international economics, labour, environmental and ecological economics, macroeconomics and social economics will all find this book of great interest.

Economic Crisis Management discusses contemporary and economic policy and its application to major crisis economies in Asia. The book contains a collection of studies by international experts in economics and finance with special focus on major aspects of the economic management of the Asia crisis. Monetary and fiscal policies are analysed, and the implementation, outcomes and prospects of financial reform are considered. The contributors go on to discuss modern theories and practices of economic management and successes and failures in Asian crisis management. Initiatives to prevent or deal more effectively with future economic crises in the region are also evaluated. Economic Crisis Management will appeal to a wide-ranging audience including: students, researchers and academics with a special interest in economics and commerce, policymakers, government advisers, business and development economists, corporate planners and commerce analysts.

Whilst contemporary economies are innovative, they are also predominantly service economies in so much as services are the main source of wealth and employment. However, there is still considerable unwillingness to consider innovation in terms of services, a paradox rooted in an obsolete conception which regards manufacturing as the only engine of growth. In this book Faiz Gallouj propounds a theoretical framework which describes and evaluates the main approaches to analysing and understanding innovation in services. He provides interesting and extensive empirical material on the nature and sources of innovation in various services sectors and countries, and makes an original contribution both to theories of innovation in services and theories of innovation in general. Taking both an evolutionary and conventionalist stance, he demonstrates that services, and more importantly innovations in services, can be regarded as the new wealth of nations. This informative and original book will prove invaluable to academics and students interested in economics, innovation, structural change, sociology and management. It will also be welcomed by practitioners and managers in service organisations.

Taiwan has become a significant player on the world stage in many areas and has developed a distinct international profile and influence. Its pro-active foreign policy firmly reminds the world of a new political entity's achievement, aspirations and unfulfilled ambitions. This pioneering book discusses Taiwan's pragmatic diplomacy as a way of seeking legitimacy, survival and development for a burgeoning nation-state, against the dynamic changes in domestic and international scenes and tumultuous relations with China. With special reference to Taiwan's relations with Southeast Asia, a key region in Taiwan's international linkages, the book investigates three major pillars sustaining Taipei's unorthodox diplomacy. These three pillars are: Taiwan's investment and trade prowess, and the global networks built by its business elite; its special relations with global ethnic Chinese communities; and transnational activism of Taiwan's political, social and religious groups, in a so-called 'total diplomacy'. Political Scientists, students and international policy makers along with anyone interested in the changing role of China and Taiwan on the world stage will find this book lively and informative.

This book reprints 18 essays selected from almost 30 years of work by the author as a high level official at the UN Conference on Trade and Development, the US Treasury Department and the World Bank. These essays report some of the core analytical thinking behind positions taken by these agencies on major issues in international trade policy: e.g., the shift of view on 'trade and development' from the presumption that developing countries should receive 'special and differential treatment' to today's view that they should aggressively exploit opportunities that international trade offers. Other essays report analytical work at the US Treasury Department on proposals in the 1970s for a 'New International Economic Order' - findings that supported the more conservative line that the US government eventually took, even though the Kissinger State Department urged a more accommodating line. Some essays are highly critical, e.g., of antidumping and its use by developing countries as well as by the United States, and of the GATT/WTO system itself as a template for economic policy. Scholars and students interested in how the GATT/WTO works as a policy making system will find this collection revealing as will readers interested in a way to evaluate the impact of antidumping (and other 'trade remedies') on the national economic system and on how to construct policy mechanisms that more effectively bring the interests of all US citizens into the making of US trade policy. In addition, many of these essays are useful for courses in international economics, international relations and policy science.

Historians and diplomats often claim that each international negotiation is a unique event. In contrast, negotiation theory, building on several academic disciplines, argues that international bargaining is characterized by recurrent patterns that can be generalized and formalized. In the context of that debate, this book addresses whether international economic negotiations differ from other types of negotiation and examines what might be typical and, possibly, special about economic negotiation. It also studies the extent to which economic theory as opposed to negotiation theory can explain the outcome of international economic negotiations. Using the framework of a comparative case study, the authors look at the most important economic issues that are traditionally at stake: trade, money, finance, macroeconomic affairs and direct investment. The cases represent government-to-government, business-to-business and business-to-government negotiations and are described by those who were either personally involved in the negotiations or were close observers. This excellent book will be of great interest to students and scholars of international economics, international business, management and game theory.

The contributors to this book, from the US and Japan, explore the main issues involved in the international trade, foreign direct investment, and macro/financial relations of the United States and Japan and provide guidance to policymakers for measures to help overcome Japan's economic stagnation since the early 1990s.The book is divided into three parts. Part I contains an empirical analysis of trade diversion under the North American Free Trade Agreement (NAFTA), a theoretical analysis of time in determining the structure and effects of trade with an application to Japan, and an empirical analysis of Japan's changing import behavior. Part II is focused on foreign direct investment (FDI), trade, and the behavior and structure of Japanese firms. Part III deals with macro/financial issues of current interest and importance in Japan. The analytical focus of the chapters is intended to enhance the understanding of the issues addressed and to provide some guidance to policymakers in the design of measures that will improve economic efficiency and welfare and help to overcome the economic stagnation that Japan has experienced in the past decade or more. Economists, political scientists and policymakers will find the analysis provided in this volume invaluable in understanding the Japanese economy and economic relations between Japan and the United States.