This book is the result of recent research by contemporary scientists on topics which were discussed at the conference of the same name in Volgograd, Russia in April 2017. The global economic system is currently in a stage of active formation and development: its boundaries and conditions of existence are constantly changing, which is accompanied by crises that influence the economic systems of its member countries. In order to solve problems emanating from global economic crises, a new direction was formed in modern science - global crisis management. Development of this direction requires the formation of the accompanying categorical apparatus, the development of a corresponding scientific and methodological basis, and the engagement in extensive practical research.

In Digitalized Finance, Edemilson Parana investigates the relationship between the development of Information and Communication Technologies (ICT) and the process of financialization of economies on a global scale, particularly in Brazil. The book explains the influence of ICT in the emergence and consolidation, especially from the 1980s, of new forms of operation and management of the globalized financial system, highly connected, operated in "real time" with intensive use of technological features, and how these advances are related with the economic and social changes in question. It also describes how contemporary capital markets work, where the search for earnings is leveraged by sophisticated mathematical models, robots and automated trading software that seek financial gains in the milliseconds scale.

The concept of an information economy is considered by some to be a new branch of economic theory, and by others as the next stage of development for an economy post-industrialization. Leading and developing economies are seeking to quickly develop a functional information economy in order to help overcome the consequences of the global financial crisis and ensure high global economic competitiveness. This book analyzes modern conceptual models of information economies, highlighting and examining their systemic contradictions and failings. It explores the disconnection between the readiness of the technical infrastructure for forming and developing the information economy, and an unprepared institutional and societal structure that is therefore unable to implement these processes and models. The editors present different approaches to solving these methodological and practical contradictions and lay out future models across different international contexts. They also provide recommendations for optimizing their theoretical model and improving its implementation in modern economic systems.

This insightful book explores the intense and ultimately fleeting moment in 1980s America when the future looked Japanese. Would Japan's remarkable post-World War II economic success enable the East Asian nation to overtake the United States? Or could Japan's globe-trotting corporations serve as a model for battered U.S. industries, pointing the way to a future of globalized commerce and culture? While popular films and literature recycled old anti-Asian imagery and crafted new ways of imagining the ""yellow peril,"" and formal U.S.-Japan relations remained locked in a holding pattern of Cold War complacency, a remarkable shift was happening in countless local places throughout the United States: Japanese goods were remaking American consumer life and injecting contemporary globalization into U.S. commerce and culture. What impact did the flood of billions of Japanese things have on the ways Americans produced, consumed, and thought about their place in the world? From autoworkers to anime fans, Consuming Japan introduces new unorthodox actors into foreign-relations history, demonstrating how the flow of all things Japanese contributed to the globalizing of America in the late twentieth century.

This sixth volume in the series deals with such topics as international accounting theory, Australian accounting standard setting and the conceptual framework project, country studies and technical studies, and international management accounting.

A growing number of companies are opting to perform increasing types of professional services in foreign countries, creating, for some companies, unprecedented opportunities to reduce costs and nucleate strategic relationships, while, for others, representing a major threat to current prosperity. ""Outsourcing and Offshoring of Professional Services: Business Optimization in a Global Economy"" discusses the considerations and implications surrounding the outsourcing and offshoring of professional services, such as software development computer-aided design, and healthcare, from multiple global perspectives. This Premier Reference Source, offering industry professionals, policymakers, students, and educators with a balance between a broad overview and detailed analysis of offshore outsourcing, is an invaluable addition to academic, research, and corporate libraries.

More than half of the world's sovereign states are small economies. The majority are in sub-Saharan Africa and the Caribbean Basin. For small economies, the globalization process involves opportunities, but also important risks because of their vulnerability and lack of diversification. This book discusses the advantages and pitfalls of different strategies for small developing economies to become more integrated into the world economy. It should help with the formulation of a coherent and effective policy response.

McGee takes the position that the only proper trade policy is one of total, immediate, and unilateral free trade, since such a policy is the only one that is consistent with individual rights. He also explodes the myth that trade deficits are bad and advocates the repeal of the antidumping laws, incorporating rights theory as well as utilitarian arguments.

This book is unique in that it (1) does not limit itself to utilitarian arguments, (2) explains why trade deficits are irrelevant, and (3) calls for immediate repeal of the antidumping laws. Part I discusses the philosophy of protectionism and reviews nearly two dozen arguments that projectionists have used to restrict trade. A whole chapter is devoted to exploding the myth that trade deficits are bad. Part II elaborates on the monetary and nonmonetary costs of protectionism. Part III addresses the philosophy and practice of antidumping policy in the United States, and shows why the policy is irrational, destructive and anti-consumer, and concludes that repeal rather than reform is called for. Part IV discusses other issues, such as the policy options for Europe, the effect of competition on prices and efficiency, the stages of economic development and their connection to trade policy, and the irrationality of the United States trade policy toward Eastern Europe.

In "Systemic and Borderline Banking Crises," a well-respected doctor of economic sciences shares his comprehensive analysis of the genesis and growth of the systemic banking crisis in many countries, providing a useful resource for students, lecturers, and bankers who wish to broaden their study of economics.

Irakli Kovzanadze is an economics professor who possesses more than twenty years of professional experience in the banking institutions of Georgia, other post-Soviet countries, and Europe. While presenting a summary of both the theoretical and practical approaches, addressing the causes and progression, and providing ways to forecast and prevent future banking crises, Dr. Kovzanadze delves into a series of related topics including: Types and forms of manifestation Role of monetary and credit policies in averting and overcoming a crisis Systemic banking crises in other countries and transitional economies Function of regulations and how they can create a sustainable banking system Principles of establishing a deposit insurance system in Georgia

This study relies on research material reflective of the experiences of different countries and regions of the world to provide not only an in-depth look at Georgia's current banking challenges, but also the ways to prevent a future crisis.

Globalisation and Interdependence in the International Political Economy addresses central developments within the contemporary international system. The notions of interdependence and globalisation that have accompanied the political discourse of 'a new world disorder' are replete with definitional ambiguities, theoretical difficulties and empirical complexities. Barry Jones offers a critical review and analysis of these concepts, their significance and place within the wider debates of international political economy. He argues that contemporary conditions are complex, with regionalising tendencies cross-cutting those of increasing globalisation, and 'national' impulses surviving even in the face of powerful 'internationalising' forces. Future developments, it is concluded, may also be far more uncertain and turbulent than is widely anticipated. Written by a leading authority, this volume is an effective and compelling introduction to the complex study of international political economy.

The aim of the book is to make the author's scholarly research in the areas of international finance and monetary economics easily accessible to other researchers and students. The articles included in the book span a wide range. The topics include the behavior of the three key relations in international finance, purchasing power parity, interest rate parity and real interest rate equality, the relation between money and other key economic variables, financial globalization and the transmission of economic disturbances internationally.

The EMU debt crisis that emerged in 2010 has identified a group of Southern countries, especially Greece, Portugal, Spain and Italy, as low performers exhibiting several serious macroeconomic imbalances, and it has also highlighted that EU integration experienced by Eastern European countries (especially the latter-comers to EU) was not accompanied by a rapid process of real convergence. Since then, the research about the effects of peripherality have regained a renewed interest to ultimately ground better regional policy recommendations aimed at achieving a sustained reduction of income per capita disparities across EU regions. In this new work, Pascariu and Duarte, along with an international group of acclaimed scholars, delve into key challenges currently facing the European Union. They investigate this central question: does the domestic market system lead to the development of a center-periphery model, by highlight gaps, or does it support the convergence process? Analyzing the effects of peripherality across the EU regions, a two-fold approach is used to deliver policy recommendations grounded in economic theory, and of interest to other countries and regions facing a process of integration.

Bowditch refuses to see African nations as basketcases on a continent of despair; instead, he examines Ghana as a country of potential opportunity in an economically emerging continent. He explores a new generation of issues around the connection between cultural values and behavior to provide international investors, Ghanaians, and others with a better understanding of the Ghanaian--and African--business environment.

Drawing upon some seven years of living and working in Ghana, Bowditch provides several different contemporary vantage points on sub-Saharan Africa's first independent nation. First examining the core cultural values of the Ghanaian people, he then looks at Ghanaian business practices. The result is an indepth look at how Ghanaians approach life, business, religion, and family, how that directly impacts the way they manage their institutions, and how that differs from prevailing international business behavior. Bowditch then probes these cultural differences and the frequently overlooked racial preconceptions that impede relations and collaboration between Ghanaians, other Africans, and Westerners. Through his unusually intimate exploration of Ghanaian life, values, business thinking, and management culture, Bowditch brings the reader full circle, answering the question: can Africa become an economic lion?

Aronsen draws on recently declassified documents in Ottawa and Washington to provide a reassessment of Canada's special relationship with the U.S. Toward this end, detailed new information is provided about Canada's contribution to the creation of the postwar economic order from the Bretton Woods Agreement to GATT. Canada's cooperation was rewarded by special economic concessions including the extension of the Hyde Park agreement in 1945, the inclusion of the off-shore purchases clause to the Marshall Plan, and Article II of the NATO Treaty. After the outbreak of the Korean War, Canada's resources played a crucial role in the production of weapons systems for the new air/atomic strategic doctrine. Several policies were adopted to facilitate the expansion of Canadian defense production, notably the relaxation of regulations on technology transfer; the encouragement of private sector investment; and the negotiation of long-term contracts at above-market prices. In the midst of these unprecendented peacetime developments "Time" Magazine observed that Canada had become America's Indispensable Ally.

The global marketplace is thriving; trillions of dollars trade hands each business day. And yet the way money works is shrouded in mystery for the majority of us. Who controls money? What governs the way money is handled?

In the 1950s, the nature of international banking changed through the creation of the Euromarket. The Power of Money tells the story of this development from the Bretton Woods system to the floating rates of the Euromarket.

In his explanation of the rise of the Eurodollar, Armand Van Dormael carefully considers the events of history during the twentieth century. The Treaty of Versailles, the Stock Market crash of 1929, America's growing role in European affairs, and the establishment of the European Monetary System are just a few of the issues addressed in this book. These events are presented from an economic perspective.

Van Dormael analyzes the current economic situation of the Eurodollar and its effect on the rest of the world, and discusses the history of the Euromarket in light of today's economic environment.

The growth of China's foreign trade in recent years has been widely attributed to its economic reforms and open door policies. This book outlines the process of China's trade reforms over the past two decades and assesses the impact of these reforms on the economy. The author provides a quantitative analysis to trace China's evolving commodity pattern of trade and changing comparative advantage structure over the entire reform period. Comparison is made between the trade patterns and comparative advantage to reveal the dynamic effects of the recent economic reform on resource allocation efficiency.

New Developments in Islamic Economics: Examples from Southeast Asia investigates the latest developments in a vibrant and fast-moving area of practical financial and economic study. Primarily focused on Malaysian contexts, while also presenting perspectives from Indonesia and Thailand, this book examines the Asian nations leading the world in the application of Islamic finance. Case studies analyse and discuss new and emerging issues in Islamic economics, including microtakaful, waqf, social finance and poverty alleviation from an Islamic perspective.

American foreign policy since 1947 cannot be understood apart from the U.S. security assistance program. Beginning with Truman, every president has considered security assistance programs important means for furthering U.S. national interests. Security assistance has been used to support a wide variety of policies, including the Truman Doctrine and containment, the underwriting of the Camp David Accords, and the channeling of aid to the newly democratic countries of Central and Eastern Europe.

American foreign policy since 1947 cannot be understood apart from the U.S. security assistance program. Beginning with Truman, every president has considered security assistance programs important means for furthering U.S. national interests. Security assistance has been used to support a wide variety of policies, including the Truman Doctrine and containment, the underwriting of the Camp David Accords, and the channeling of aid to the newly democratic countries of Central and Eastern Europe.

This book provides a comprehensive treatment of the program from 1947 through fiscal year 1996. After discussing the legal foundations and components of the program, the authors provide an historical survey from 1947 through the first Clinton administration. They then detail the role of Congress, public opinion, and interest groups. Separate treatment is given to countries such as Israel, Egypt, Greece, and Turkey. The authors also suggest ideas on how the programs can be changed to mesh with American objectives and resources in the 21st century. This is a major study of interest to students, scholars, researchers, and policymakers.

The changing dynamics in the European region and beyond, the unfolding political-economic challenges across the European Union, and the rising global power of emerging economic powers require knowledge, skills, and methodological platforms inducing strategies and operations in the new and ever-changing business landscape. Geo-Regional Competitiveness in Central and Eastern Europe, the Baltic Countries, and Russia seeks to address East Central Europe's (ECE), the Baltics', and Russia's increasingly important roles as emerging markets and competitive economic players in the European region. This premier reference work is designated for scholars, professionals, government agencies, think tanks, and other individuals, organizations, and institutions interested in gaining a deeper understanding of the geo-regional strategic business dynamics and landscape involving ECE, the Baltics, and Russia.

The first attempt to address comparative property law in a common integrative framework, this study discusses German, Italian, French, American, and British property law as mere variations based upon a few fundamental themes through which these nations developed legal systems to provide responses to common economic problems and to set legal foundations for working markets. "Basic Principles of Property LaW" was produced to offer a common framework for the discussion of the law of property within countries in transition, thus it has its basis, not on just one legal system, but on the institutional commonalties that make western property law a working market institution. It offers a major challenge to conventional thinking that in property law the differences between common law and civil law are so important that common core research is impossible.

Mattei hopes to guide the reader to think comparatively about property by shedding many preconceived formalistic abstractions. The substance of property law, he argues, is much more common throughout the Western legal tradition than legal scholars would have us believe. Through a set format and accessible writing, this book looks at national legal traditions as responses to common economic problems. It sets the foundations for further much needed integrative comparative legal research in the domain of property law.

The obligations of international trade law hinge upon the question of what constitutes 'like products'. Trade disputes will often involve an examination of whether the products in question are in competition with one another. The most common term used for this test is to ask whether they are 'like products' - that is to ask whether products are sufficiently similar for consumers to see them as substitutable - and thus whether they are subject to the rules of the WTO and GATT. This book seeks to develop consistent principles and an effective definition for this central issue of world trade law.

Finance Capital Today is shortlisted for the The Isaac and Tamara Deutscher Memorial Prize 2017. Finance Capital Today presents a rich new analysis of the specific features of contemporary capitalism, notably its truly global nature and its financialisation, calling on Marxist analyses of the concentration, centralisation and globalisation of capital and Marx's theory of interest-bearing and fictitious capital. Chesnais shows how financial globalisation and the exponential growth of financial assets have developed alongside the globalisation of productive capital, paying special attention to the contemporary operations of transnational corporations and global oligopoly. He argues that the macroeconomic perspective is one in which large amounts of capital are looking for profitable investment in a setting of underlying overproduction and low profits. The outcome will be low global growth, repeated financial shocks and the growing interconnection between the environmental and economic crises.

Dr. Zachary Selden provides a detailed examination of how sanctions can and cannot be used effectively to further U.S. foreign interests. In the post-Cold War era, sanctions are becoming a frequently used tool of foreign policy, but Selden offers an important cautionary note. Sanctions are often counterproductive, and they create interest groups within the target country who have a vested interest in seeing that sanctions and the policies that brought them to bear are maintained. While sanctions aimed at capital flows can be highly effective, those aimed at trade often become the functional equivalent of a protective tariff, stimulating Import Substitution Industrialization (ISI) and creating groups of producers or suppliers who take steps in the political arena to ensure that their economic windfall is maintained. After demonstrating the ISI effects in a large sample of cases, Selden goes on to demonstrate how sanctions fueled the rise of a powerful criminal elite in Yugoslavia who sponsored extreme nationalist political figures and how sanctions were twisted to Saddam Hussein's personal benefit in Iraq. More than simply of academic interest, this study serves as a guide for the more effective use of sanctions. It will be of particular interest to scholars, researchers, and policy makers involved with American foreign and military policy.

Informal finance consists of nonbank financing activities, whether conducted through family and friends, local money houses, or other types of financial associations. It has provided much-needed financing to small and medium enterprises (SMEs) in particular, in the face of a tightly constrained and overburdened formal banking system. Unable to obtain a bank loan, firms have relied upon individuals and informal organizations outside of the banking system to obtain financing for their ventures or working capital (operating funds). Presently there is a scarcity of information on informal finance in China and it is expected to have a significant impact upon GDP and money supply.
This book, with contributions from leading scholars, describes the evolution, characteristics, and variation of informal finance in China from American and Chinese perspectives. Literature by Jiang Shuxia, Jiang Xuzhao, and Li Jianjun has heretofore been available only in Chinese, while work by Kellee Tsai, Jianwen Liao, Harold Welsch, David Pistrui, and Sara Hsu has been available in English. For the first time, they come together to discuss informal financing and its many aspects.
Most of the essays are based upon original survey research conducted locally, as this type of data is not normally collected by the government. The papers pioneer the description and analysis of the nuances of informal finance from several perspectives; the authors look at the social, cultural, political, and economic causes of informal finance, its many variations, and its economic, personal, and political ramifications.