The fifth edition of The Process of Economic Development offers a thorough and up-to-date treatment of development economics. It has been extensively revised throughout, reflecting the most recent developments in research and incorporating the latest empirical data, as well as key theoretical advances and many new topics. The world has seen vast economic growth in China, economic transformation in India, new challenges in Latin America, rapid economic progress in Southeast Asia, and the deepening impact of environmental issues such as climate change. This new edition addresses all these critical issues as well as the pivotal role of the state, where China's capacity is contrasted with that of African states. Transnational corporations' reliance on low-wage manufacturing and labor arbitrage is featured in the book. Agricultural policy-extensively explored-remains crucial, as does the promotion of industrialization. This fifth edition offers a 'state-of-the-art' analysis of these essential themes and many others. Numerous case studies and issue focuses have been integrated with sundry central topics. Neoclassical theories and applications, including a timely exploration of behavioral economics, are both rigorously and accessibly explicated. Cypher's comprehensive account remains the development economics text par excellence, as it takes a much more practical, hands-on view of the issues facing the developing countries than other, overly mathematical texts. This book is unique in its scope and in the detailed attention it gives to a vast range of ideas, including pioneering developmentalist and heterodox formulations. Distinct institutional structures are examined within their historical contexts. This landmark text will continue to be an invaluable resource for students, teachers, and researchers in the fields of development economics and development studies.

Asia Meets Europe raises questions about the nature of regions and, in particular, about the role of inter-regionalism in a rapidly changing environment. Julie Gilson considers the correlation between Asia and Europe within the framework of the unique post cold-war inter-regional Asia-Europe Meeting (ASEM). The author then examines the nature of this new type of interaction and its various economic and political forms by exploring the historical precedents and prevailing ideas of region that shape and distort it. The book also encompasses the challenging roles of private enterprise and non-governmental organisations (NGOs) when faced with state actors who continue to regard regional and inter-regional co-operation with ambivalence. Asia Meets Europe will be of special interest to academics and researchers of Asian studies, Asia-Europe relations and international political economy. Practitioners involved in policy making in East Asia and Europe will also find the book of use.

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.

Outcomes in major multilateral trade negotiations are conventionally explained as resulting from interests weighted by (trading) power. Offering a different overview of the concepts we use to talk about the international trade regime, this edited collection puts the ideational foundation of world trade politics centre stage, and critically examines the terms in which we make sense of world trade politics. The concepts used to make sense of world trade politics are often employed strategically, making some aspects of reality visible and others invisible. Reflecting upon ten key concepts from 'trade' itself to 'protectionism' and 'justice', this book poses two broad questions: first, how and by whom have the meanings of different terms used to describe, challenge and defend world trade politics been constructed? Second, how have the individual terms changed over time, and with what consequences? The editors and contributors draw on a broad range of theoretical approaches, from post-structuralism or cognitivism to normative theory, shedding new light on why certain trade issues and agendas win out over others, who benefits from the current system of trade governance, and what contemporary challenges the World Trade Organization faces. In doing so, the book speaks to a growing and diverse constructivist literature in International Political Economy. This book will be of interest to scholars, students and policy professionals working within International Relations, International Political Economy and economics.

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.

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.

After describing NAFTA as 'the worst trade deal maybe ever signed anywhere', Donald Trump's election seemed to represent the final nail in the coffin for North American economic integration. Following a decade of stagnation, however, Trump's victory presents a timely opportunity to reconsider North American integration and evaluate NAFTA's democratic track record in Mexico. In this book, Pablo Calderon Martinez presents a detailed analysis of NAFTA's influence as a political tool for democracy in Mexico. Extending beyond a mere economic or social exploration of the consequences of NAFTA, Calderon Martinez uses a three-tiered analysis based on causality mechanisms to explain how the interactions between internationalisation and democratisation unfolded in Mexico. Calderon Martinez's analysis demonstrates that Mexico's internationalisation project under the framework of NAFTA gave shape to, if not made, Mexico's democratisation process. An original and timely resource for scholars and students interested in understanding how - in cases like Mexico where transitions to democracy are characterised by a finely poised balance of power - small influences from abroad can make significant long-lasting differences domestically.

Relations between the new state of Israel and the European Union in the first twenty years of the Community's existence were a major policy issue given the background of the Holocaust and the way the new nation was established. This book focuses on Israel-European Community relations from 1957 to 1975 - from the signing of the Treaty of Rome (1957), which officially established the Common Market, to the conclusion of Israel's Free Trade Agreement with the Community. It reveals a new and key facet of Israeli diplomacy during the country's infancy, joining the many studies concerning Israel's relations with the United States, France, Germany and Britain.

The devastating effect of Covid19 on the Indian economy is by now well-known. The growth rate of the economy slumped to a negative figure in the year 2020-21. What is less talked about, however, is the fact that growth slowdown in India had started several years before the pandemic struck. The two questions that naturally arise are: what explains the long economic slowdown and what can be done about it. This book is an in-depth analysis of the economic slowdown in India in recent years and the reasons behind the persistent slowdown in the growth rate of the Indian economy in the 2010s, especially in the latter half of the decade. While discussing both macro- and microeconomic policies, the volume examines how the perspective on economic policy has evolved over time in consonance with experience by investigating major instances of such slowdowns in the past. Three global slowdowns (viz. the Great Depression of 1929, the stagflation induced by the oil crisis of the 1970s and the Global Financial Crisis of 2007) and the industrial deceleration in India in the late 1960s and early 1970s are discussed. The author also probes into the problems of inequality, poverty, inflation in the Indian economy pre- and post- pandemic and policies targeted towards development, manufacturing, and distribution of vaccines. The book further discusses possible economic impacts of the Ukraine War and the long-term problem of global warming. Concise and thoroughly researched, this book will be of interest to beginners, scholars, research students and teachers interested in economics, policy making and development studies.

Ever since the 2007-8 global financial crisis and its aftermath, Hyman Minsky's theory has never been more relevant. Throughout his career, Jan Kregel has called attention to Minsky's contributions to understanding the evolution of financial systems, the development of financial fragility and instability, and designing the financial structure necessary to support the capital development of the economy. Building on Minsky, Kregel developed a framework to analyze how different financial structures develop financial fragility over time. Rather than characterizing financial systems as market-based or bank-based, Kregel argued that it is necessary to distinguish between the risks that are carried on the balance sheets of banks and other financial institutions. This volume, brought together by Felipe C. Rezende, highlights these major contributions from Kregel through a collection of his influential papers from various journals and conferences. Kregel's approach provides a strong theoretical background to understand the making and unfolding of the crisis and helps us to draw policy implications to improve financial stability, and suggest an alternative financial structure for a market economy. In this book, his knowledge is consolidated and the ideas he puts forward offer a path for future developments in economics which will be of great interest to those studying and researching in the fields of economics and finance.

This volume addresses important issues in economic theory and international trade with contributions from internationally renowned researchers - including some of Murray C. Kemp's many colleagues and former students.Economic Theory and International Trade begins with an examination of classical trade theory and welfare economics. It goes on to discuss international trade policy, including international trading agreements, taxation, tariffs and quotas. Attention then turns to the role of market structure in joint ventures, innovation, tariff policy and political economy. The final section is devoted to economic dynamics and international economics, with an emphasis on learning mechanisms, sustainable growth and immigration. This book will be indispensable to academics and graduate students in the area of international trade. Economic theorists and international trade specialists such as research units and researchers in government will also find this book of great interest.

Global Regionalization examines the astonishing political and economic changes that have completely reshaped the political geography of certain regions during the past fifteen years. It deals with the concept of global bloc formation, examining the impacts that changing political-economic conditions and relationships in and between nations have on demographic and economic flows. The contributors examine areas including; the Central European states which previously belonged to the Soviet block and now form part of an extended Europe; the growing affinities amongst Muslims worldwide but most especially in the Middle East, North Africa and the former South Central Soviet region. The book argues that as former adversaries in Central Asia are beginning to find ways of forging new ties, India may eventually emerge as a core state in the new emerging region. At the same time China is increasingly gaining momentum amidst other fast growing economies in the Pacific Rim, gradually moving the point of gravity in the region westwards. The book will be of interest to economists, geographers, planners and regional scientists because it explains the latest trends in global and regional industrial development. It will also appeal to sociologists and political scientists as it examines why global and regional core peripheral differentials keep on widening.

The idea that each country should have one currency is so deeply rooted in people's minds that the possibility of multiple and concurrent currencies seems unthinkable. Monetary systems contribute to problems of high unemployment and social distress during financial and economic crisis, so reforms to increase the responsiveness and flexibility of the monetary system can be part of the solution. This book discusses 'monetary plurality', which is the circulation of several currencies at the same time and space. It addresses how multiple currency circuits work together and transform socio-economic systems, particularly by supporting economies at the local level of regions and cities. The book shows that monetary plurality has been ubiquitous throughout history and persists at present because the existence of several currency circuits facilitates small-scale production and trade in a way that no single currency can accomplish on its own. Monetary plurality can improve resilience, access to livelihoods and economic sustainability. At the same time, it introduces new risks in terms of economic governance, so it needs to be properly understood. The book analyses experiences of monetary plurality in Europe, Japan, and North and South America, written by researchers from East and West and from the global North and South. Replete with case studies, this book will prove a valuable addition to any student or practitioner's bookshelf.

Singapore, South Korea and Taiwan - East Asia's newly industrialised economies (the NIE-3) - experienced a profound development transformation over recent decades. Christopher Dent makes a comparative study of their foreign economic policies, highlighting how the NIE-3 have engaged with the international economic system in an increasingly dynamic way. The book develops a new macro-framework of foreign economic policy analysis that provides the structure for this study. The author argues that the 'development context' of the NIE-3's foreign economic policies is grounded in their common development statism and semi-peripheralisation. He further contends that it is the pursuit of economic security that primarily motivates their respective foreign economic policies. This new conceptualisation of economic security in the context of foreign economic policy will appeal to academics, researchers and students in wide range of disciplines including: Asian studies, international relations, international political economy, economics and politics.

This unique book provides a comprehensive survey of the major economic issues that have helped shape the modern world. It includes discussions of the latest research findings in the international economic development literature and scrutinises some of the most important debates in contemporary economics. Brian Snowdon examines the many controversies relating to long-run growth and development, problems of transitions from socialism to capitalism, international competitiveness and the impacts of globalisation. To shed light on these critical issues Brian Snowdon interviewed eleven leading economists who are featured in this book: Daron Acemoglu, Alberto Alesina, Padma Desai, William Easterly, Stanley Fischer, Janos Kornai, Michael Porter, Dani Rodrik, Jeffrey Sachs, Xavier Sala-i-Martin and Jeffrey Williamson. Globalisation, Development and Transition provides an all-encompassing guide to the contemporary literature on economic development and related fields, as well as an extensive and up-to-date list of references. It will be an essential resource for all scholars and students of economics, especially those with an interest in economic growth and development, economic history, trade and globalisation, and the economics of transition.

Advancing a constructivist conceptual approach, this book explains the surprising outcome of the Economic Partnership Agreements (EPAs) between the European Union and developing countries in Africa, the Caribbean and the Pacific (the ACP countries). Despite the EU's huge market power, it had limited success with the EPAs; an outcome that confounds materialist narratives equating trade power with market size. Why was the EU unable to fully realise its prospectus for trade and regulatory liberalisation through the EPA negotiations? Emphasising the role of social legitimacy in asymmetrical North-South trade negotiations, Murray-Evans sets the EPAs within the broader context of an institutionally complex global trade regime and stresses the agency of both weak and strong actors in contesting trade rules and practices across multilateral, regional and bilateral negotiating settings. Empirical chapters approach the EPA process from different institutional angles to explain and map the genesis, design, promotion and ultimately limited impact of the EU's ambitious prospectus for the EPAs. This volume will be particularly relevant to students and scholars of international trade and development and the EU as an international actor, as well as those researching international political economy, African politics and international trade law.

The Routledge Handbook of Transatlantic Relations is an essential and comprehensive reference for the regulation of transatlantic relations across a range of subjects, bringing together contributions from scholars, policy makers, lawyers and political scientists. Future oriented in a range of fields, it probes the key technical, procedural and policy issues for the US of dealing with, negotiating, engaging and law-making with the EU, taking a broad interdisciplinary perspective including international relations, politics, political economic and law, EU external relations law and international law and assesses the external consequences of transatlantic relations in a systematic and comprehensive fashion. The transatlantic relationship constitutes one of the most established and far-reaching democratic alliances globally, and which has propelled multilateralism, trade regulation and the EU-US relationship in global challenges. The different contributions will propose solutions to overcome these problems and help us understand the shifting transatlantic agenda in diverse areas from human rights, to trade, and security, and the capacity of the transatlantic relationship to set new international agendas, standards and rules. The Routledge Handbook of Transatlantic Relations will be a key reference for scholars, students and practitioners of Transatlantic Relations/EU-US relations, EU External Relations law, EU rule-making, EU Security law and more broadly to global governance, International law, international political economy and international relations.

In August 1765 the East India Company defeated the young Mughal emperor and forced him to establish a new administration in his richest provinces. Run by English merchants who collected taxes using a ruthless private army, this new regime saw the East India Company transform itself from an international trading corporation into something much more unusual: an aggressive colonial power in the guise of a multinational business.

William Dalrymple tells the remarkable story of the East India Company as it has never been told before, unfolding a timely cautionary tale of the first global corporate power.

The book is the first attempt to offer a holistic and integrated exploration of the political-economic framework underpinning economic regionalism. In doing so it provides a much-needed contribution to the literature on international political economy, international relations and Asian political economy in relation to economic regionalism. The existing literature provides broad generalizations and limited discussion on economic integration (i.e. free trade agreements, FTA) with most analyses of regionalism generally contained to the field of economics with a focus on the welfare implications of FTAs, both for participating countries and the world as a whole. Readers of this book can view economic regionalism from a variety of perspectives with input from Chinese, Japanese and Korean research institutes, business and industry groups, and government officials. Drawing on the considerable country experience and expertise of the authors, the book attempts to unravel the paradox of the market-driven economic globalization process (regionalism) and address a serious gap in the current literature relating to the political-economic characteristics and strategies of China, Japan and Korea in relation to economic regionalism.

Societal grand challenges have taken a toll on humanity, which finds itself at a crossroads. The concentration of wealth and economic inequality, the dominance of Big Tech firms, the loss of privacy and free choice, and the overconsumption and abuse of natural resources have been reinforced by globalization. Regulation, legislation, international treaties, and government and corporate policies have fallen short of offering sufficient remedies. This book identifies the root cause of these problems and offers a bold solution: a new economic system, free from the design flaws that have contributed to these societal grand challenges. The proposed cooperative economy is an ethical community-driven exchange system that relies on collective action to promote societal values while accounting for resource constraints. Unlike the modern economic system that is predominantly driven by opportunistic behavior, the cooperative economy moves away from a materialistic orientation and follows a more balanced perspective that leverages prosocial behavior. The book explains how this new system adopts design principles that promote self-sufficiency of communities, sustainability and entrepreneurship while limiting overconsumption and excessive profit-making. It enhances economic equality by leveraging price subsidization and by restricting salary differences. The book describes how the system serves the interests of consumers, vendors, and employees while preventing the accumulation of power by the platform owner who operates this system. This book is invaluable reading for policymakers who have been searching for solutions to some of the grand challenges that our society faces, and to managers who have sought alternative ways to cope with platform ecosystems, resource shortages, and supply chain disruptions. It revisits long-held assumptions, offering a treatise and food for thought, as well as a plan for concrete action. The book is also highly relevant to scholars and students in the study of economics, strategy, innovation, and public policy and to all readers who are concerned about the future of our planet and society.

As China's international political role grows, its relations with states outside of its traditional sphere of interests is evolving. This is certainly the case of the Gulf monarchies of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, which together comprise the Gulf Cooperation Council (GCC). China's levels of interdependence with these states has increased dramatically in recent years, spanning a wide range of interests. What motivating factors explain the Chinese leadership's decision to forge closer ties to the GCC? Why have GCC leaders developed closer ties to China, and what kind of role can China be expected to play in the region as levels of interdependence intensify? This book uses neoclassical realism to analyse the evolution of Sino-GCC relations. Examining the pressures that shaped China's policy toward the Gulf monarchies, it demonstrates that systemic considerations have been predominant since 1949, yet domestic political considerations were also always an important consideration. Relations are examined across diplomatic and political interactions, trade and investment, infrastructure and construction projects, people-to-people exchanges, and military and security cooperation. This book will appeal to scholars in the fields of International Relations and International Political Economy, as well as area specialists on China, the Gulf, the Gulf Monarchies, and those working on foreign policy issues.

Does free trade contribute to the deterioration of the environment? This important book offers a fresh look at the trade-environment debate from a political-economic perspective. It provides an extensive analysis of the environmental consequences of free trade, and examines how trade affects environmental regulation in this age of regional and global economic integration. The book begins by providing a useful review of the literature on the environment-trade link and the effects of trade on environmental regulation. It is demonstrated that environmental regulation may affect trade and investment patterns, and as a consequence the competitiveness of a country or region. Using the North American Free Trade Agreement as a case study, the author examines the political influence of environmentalists and industry sub-groups on pollution standards in the United States. Rolf Bommer also discusses the European experience, and reveals that the European Union may affect pollution regulation considerably and increase the chance of higher environmental standards. He concludes that free trade offers the opportunity to introduce tighter pollution regulation due to the political influence of interest groups on environmental policy making. Economic Integration and the Environment will be welcomed by environmental economists, those interested in international economics as well as policymakers and practitioners.

Export embargoes are imposed in the belief that enough economic damage will be inflicted on the target country to make it change course on some key political point. However, export embargoes also have economic consequences for producers in the country which imposes the embargo and for producers in third party countries. This book, first published in 1987, analyses the economic effects of export embargoes. It presents much general analysis on the topic and goes on, making use of a model, to examine in detail the 1980 US embargo on grain sales to the Soviet Union. Among the book's findings is the importance of expectations concerning how long the embargo will last in determining both the success of the embargo and the impact on produces in the country imposing the embargo.

In an international political economy characterised both by constancy and change, this study, first published in 1996, links together one seemingly incongruous continuity in international trade relations with an increasingly dramatic development in the economies of industrial countries. On the one hand, industrialised countries have become progressively dependent upon one another. On the other hand, the liberal international trade regime has yet to falter. These two points are tied together by seeking to explain the maintenance of liberal trade relations in terms of the mutual economic dependence of industrial countries. In particular, the study examines what may be a fundamental constraint on trade protectionism today: the reliance of industrialised countries on external trade relations, and especially on markets within the industrial world.

This ground-breaking study explores transformations in the TV industry under the impact of globalizing forces and digital technologies. Chalaby investigates the making of a digital value chain and the distinct value-adding segments which form the new video ecosystem. He provides a full account of the industry's global shift from the development of TV formats and transnational networks to the emergence of tech giants and streaming platforms. The author takes a deep dive into the infrastructure (communication satellites, subsea cable networks, data centres) and technology (cloud computing, machine learning and artificial intelligence) underpinning this ecosystem through the prism of global value chain theory. The book combines empirical data garnered over 20 years of researching the industry and offers unique insights from television and tech executives.