Economic and Monetary Union (EMU) will have far-reaching consequences for participating nations. This book contains a unique and editorially neutral collection of key arguments favouring and opposing membership. The economic and policy implications are evaluated by distinguished economists, whilst the impact upon national sovereignty and the world of work is debated by prominent MPs and representatives of business and trade union organisations. The text provides an unbiased, comprehensive and 'readable' resource for specialist students and a general readership.

Today's banking systems, from the prosperous American economy to muddled Europe and wobbly Japan, may not be in as good shape as is generally assumed. Although, for instance, large financial institutions face the challenges of the new Euro with confidence, small and mid-sized banks are not as well prepared to deal with the world's changing financial scene. While most banks' profits continue to come from lending, many have become exposed to lesser borrowers, and others have entered businesses, such as asset management and trading, that could become less attractive. Given the pressure on banks to earn more profits and the extra risks they have taken, it behooves us to revisit the key issues in banking. This book casts the ongoing changes in money and banking into perspective. The issues discussed are long standing. Some have antecedents in the distant past, others are more recent. The book opens with a brief discussion of what money is, including the monetarist, Austrian, and Keynesian views, and of differing views on the role of supply and demand. It then considers the early and later years of central banking in the U.S. and abroad, moving on to the role of bureaucracy and monetary policy. The volume then considers contemporary commercial banking, the changing nature of banking today, and the Euro and the dollar. Written in nontechnical language, the book will be useful to the specialist and interested layman alike.

Advances in International Accounting is a referred, academic research annual, that is devoted to publishing articles about advancements in the development of accounting and its related disciplines from an international perspective. This serial examines how these developments affect the financial reporting and disclosure practices, taxation, management accounting practices, and auditing of multinational corporations, as well as their effect on the education of professional accountants worldwide. Advances in International Accounting welcomes traditional and alternative approaches, including theoretical research, empirical research, applied research, and cross-cultural studies.

The LGBT+ community has experienced a stunning development in a short period of time: yesterday marginalized, stigmatized, and criminalized, now champions of creativity, diversity and innovation in a highly competitive world. In addition, corporate social responsibility and ethical demands for inclusivity have become economic directives that every organization would like to attain. The struggle of recognition is not over yet, but in workplaces and markets, gay, lesbian, transgender, bisexual and queer individuals have become symbols of diversity and economic power - true GaYme Changers developing the global economy faster and for the better. Illustrated by fascinating stories around individuals, companies, nonprofits and a fast-growing cohort of organizations, Jens Schadendorf has traced the LGBT+ community and an increasing number of their allies from across the globe to discover the start of a revolution. Supported by up-to-date research, he shows that investment in LGBT+ inclusion delivers a powerful return. Always - even in times of hostility, resistance and crisis - it is economically and ethically beneficial for companies and societies and every human being, to let LGBT+ members develop into dynamic forces, rooted in new forms of cooperation and learning for ga(y)me changing results.

This volume brings together business, government and academic representatives from the United States, Pacific and Asian nations to address issues of regional economic cooperation in the Pacific Basin. The contributors focus particularly on cooperation in five areas: development, commodities, technology, human resources, and issues and directions. Their papers explore both the broad questions of cooperation in regional economic development and more practical concerns such as appropriate technology, political constraints, and foreign aid. Invaluable supplemental reading for courses in economic development and comparative economics, "Pacific Cooperation and Development" provides important new insights into the dynamics of economic development in an increasingly critical global market.

The financialization of the economy has brought a number of interrelated problems which have contributed to growing income and wealth inequality. Askari and Mirakhor assert that it is time to make a bold change by putting our financial house in order and on a better path, advocating for a fundamental reform of the financial system.

The author examines the rise of the BRICs and the supposed decline of the United States. Focusing on the boom years from 1992 to 2007, and the crisis years after 2008, he argues that there are limits to the rise of the former and that the extent of US decline has been greatly exaggerated.

This book explores the role of cities in the trade liberalization process in the global economy and their efforts to enhance the competitiveness of cities. Cities have become the primary actors in the trade liberalization process, both in North America and Europe. It is their efforts to design strategic responses, to create city networks, to influence priorities for public expenditures, and to enhance their own competitiveness that are vital to the realization of the potential for increased efficiency and higher incomes which free-trade promises.

This work examines the impact of trade liberalization on the urban economy through case studies of urban areas along the U.S.-Canadian border, in the European Community, and in Scandinavia. The findings will be of interest to scholars in development economics and international trade and to practitioners and policy-makers involved in urban economic development.

This study quantifies the relationships between the economies of the Unites States and Japan on an industrially disaggregated basis. It links two large-scale econometric models of the U.S. and Japan in the framework of the world model system (Project LINK). These models are useful not only for forecasts and aggregate policy studies, but also for detailed investigation of industrial changes and trade policy on sectoral output employment, trade balance, and inflation in both countries. The interactions with other parts of the world are also taken into account. Applications to policy changes and exchange rate variations illustrate the potential of the model system and provide a powerful insight into the operation of two closely integrated economies. A pioneering effort to link quantitatively the relationships between the economies of the United States and Japan, this volume will be of interest to economists and policymakers here and abroad.

The author argues that we should not be diverted by the East Asian 'meltdown', which is a predictable outcome of global dynamics. Of real concern, however, is the 'hidden crisis', which has been inadvertently engineered by neoliberal economists who dominate the world's financial institutions. They are the global crisis makers, who have convinced governments to abandon strategic leadership and to impose crippling deflationary policies. By employing the innovative theoretical and empirical work published in his recent series of remarkable books, Graeme Snooks shows how this threat to progress and liberty can be overcome.

The Mexican expropriation of British and American properties in March 1938 marked the first time any oil-producing country successfully stood up to foreign companies who claimed to own oil properties in that country and who had the support of their respective governments. Totally reliant on overseas oil at a time when war seemed imminent, British officials responsible for policy toward Mexico immediately emphasized the importance of preventing other oil-exporting nations from following Mexico's lead. Washington also sought to make an example of Mexico--one that would guarantee respect for U.S. businesses operating abroad.

Although both Washington and London wanted to return to the pre-expropriation status quo, Washington was unwilling to work with London to achieve this goal, and Washington's attitude paralleled its reaction to British efforts to get U.S. support on certain defense issues during this critical period. The resulting Anglo-American strife over how to handle Mexico was also consistent with Anglo-American commercial competition and the oil rivalry in Mexico early in the century.

International trade is now almost universally regarded as an important stimulus to growth and economic development, but while many aspects of international trade are regulated by international agreement, most nations retain some important specific trade policies for manufactured goods. In this work, the second volume of Greenwood's Handbook of Comparative Economic Policies, Dominick Salvatore presents an overview of national trade policies in the world's most important countries. As the only detailed comparative study of international trade policies, this volume will be an increasingly useful reference tool as international trade becomes more and more important in the years to come. The work brings together contributions on twenty-two different countries plus four chapters on overall trade policies and helps to shed light not only on each nation's specific trade policies but also on the effect of various policies on the growth of developed countries, the rate of economic development, and the progress of restructuring in the former centrally planned economies. The book is divided into six basic sections: the first provides an introduction to international trade policies and tariff and trade agreements, while the remaining five sections detail leading industrial countries, other industrial countries, Latin American nations, the countries of Asia and Africa, and the USSR, Poland, and China. Each chapter within these sections offers an easily accessible overview of trade policies as well as a list of references that identify the most important sources of additional information. This handbook will be an effective resource and reference tool for students of comparative economics and for economists and international policymakers.

This volume, the fifth instalment of the classic Report on the European Union series, offers at once an economic and intellectual historical perspective on the creation of the euro and its 20 first years, a comprehensive review of the current and future challenges of the euro area, including a critical look at the different options for the reform of its governance and institutional architecture and finally a close look at the "new euros", i.e. the ambitious projects that could instil a new life into the stalled European project. It covers a wide range of key economic and social topics such as monetary and fiscal policy, tax competition, the EU budget, structural policy, inequality, gender equality, post carbon economy, well-being advancement and democracy. Weakened by a decade of economic crisis and shaken by the awakening of populism, the European project faces three disintegrations: democratic disaffection, monetary and financial fragmentation and territorial dislocation. If EU member states want to escape those looming risks, they must, as they always have in the last five decades, reinvent Europe in order to save it.

This volume deals with the role and impact of technology on the economy and society. The papers on corporate dimensions address the impact of patents, determinants of innovative activities, differential behaviour of multinationals, industrial groups and other firms with regard to innovations and technology. In contrast, the papers on social dimensions chiefly deal with the role of technology in reducing inequality. The majority of the papers employ econometric techniques and other statistical methods, and many are based on primary data. The studies emphasise the importance of innovations (especially patents) and human capital in influencing productivity across Indian states, the significance of patenting in determining the efficiency of firms, the role of business groups in promoting innovations, differences in the technological characteristics of multinational and domestic firms, and how mergers and acquisitions can promote R&D. The papers on social dimensions analyse how innovative activities can shape employment, the impact of technology on poverty, the socioeconomic characteristics of mobile phone ownerships, use of information and communications technologies at educational institutions, and the influence of Synchronous Technologies in reducing access to teaching programmes. The studies show that those Indian states that have invested in human capital and technology experienced higher labour productivity. Further, the studies establish a positive correlation between R&D spending and employment. Lastly, they demonstrate that the adoption of agriculture-related technologies can have a significant impact on rural poverty and consumption expenditures.

The global economy is undergoing dramatic financial changes. The removal of technical, trade, and monetary barriers and the liberalization of world economies create challenges and opportunities for investment and financial transactions. With these changes, international finance is expected to play a vital role in foreign exchange, cross-border capital flows, joint ventures, and economic growth, but rapid progress in telecommunications and electronic capital transfers could lead to tremors in financial markets, making the global economy vulnerable to speculation, investors' panic, and economic fluctuations. Supported by the latest empirical research, this book weaves together a theoretical framework of international finance supported by the latest empirical research.

DEGREESIGlobalization DEGREESR provides a comprehensive analysis of traditional and modern theories of international monetary systems, problems of balance of payments, exchange rates, and related adjustment and stabilization policies for industrialized and emerging nations. Following a brief historical review, the book covers advanced theories of international trade and finances as well as related real world performance. It examines strengths and weaknesses of fixed and floating exchange rates, forward exchanges, spreading global shareholder capitalism, problems of emerging markets, international capital movements and banking activities, market capitalization and foreign debt. It also examines investment movements and cross-border mergers, economic and financial integration, related effects of macroeconomic policies in open economies, and problems of global income inequalities. The book will be of great theoretical and practical importance to students, scholars, and business leaders.

This book examines the role of mercantile networks in linking Asian economies to the global economy. It contains fourteen contributions on East, Southeast and South Asia covering the period from 1750 to the present.

The past several years have brought economic, commercial, and investment revolution to China where a consumer society is beginning to emerge. By putting China's trade and economic relations into global and regional perspectives, US-China Trade examines how this phenomenon will affect trade with the United States. The contributors come from a wide range of scholarly and business fields, giving the book a unique combination of breadth and specificity. Among the issues covered are China's changing economic role; the legal environment surrounding investment; the problems and resource opportunities associated with doing business with China; and negotiation strategies. The volume also focuses on the practical business techniques, strategies, and practices peculiar to China, making it informative reading to scholars and students of China's trade relations and economic policies.

This encompassing study traces the issues of international cartels from the early days of World War II through the occupation of Germany and Japan. It focuses attention on the Justice Department's Economic Warfare Section as it utilized its resources in uncovering economic and strategic information that could be used in the war effort, such as the selection of economic bottlenecks for bombing. Maddox examines how cartels such as I. G. Farben, Carl Zeiss, the Steel Cartel and others worked to harm U.S. strategic interests, and he details how cartel agreements allowed the Japanese to acquire critical technologies and strategic materials. Using newly released Justice Department records, this thorough investigation of decartelization captures the debate over implementation of the policy issues.

These exposures by both the Justice Department and the Kilgore Committee ultimately helped stimulate debate over the economic treatment of enemy nations in the postwar period. Despite an Allied decision in Potsdam to apply decartelization and deconcentration policies to Germany and Japan, the decartelization policy ran into difficulty in Germany with blatant attempts by the American Military Government to subvert it. Events in Japan followed a similar path. After first taking on the zaibatsu and other cartel-like business practices, policy would be reversed.

Asia and Oceania are close geographically, have complementary trade and investment opportunities, and have developed strong business relationships during recent decades. The rapid growth of Asia has provided huge two-way opportunities in trade and investment for businesses in these areas. In the coming decades, continued strong growth in East Asia is likely to be accompanied by even stronger growth in South Asia. Businesses in Oceania are generally better placed than those of Western Europe and North America to take early advantage of the burgeoning opportunities in Asia. Emerging Business and Trade Opportunities Between Oceania and Asia is a comprehensive reference that comprises research on the latest business ventures and developments that are being forged between countries that include Australia, China, and India. This book provides insight into general knowledge about the trade and investment policies and patterns of the two areas and specific knowledge about more targeted trade and investment opportunities. Covering a plethora of topics such as economic development, knowledge management, and start-ups across a wide range of industries that include tourism and hospitality, elderly care services, and information technology sectors, it is ideal for existing and new business entrepreneurs in Oceania and Asia; economic and political commentators; and researchers, academics, and students working in the fields of economics and business-oriented disciplines. Additionally, business professionals and financial investors can use the book to gain a deeper understanding of investment opportunities in areas such as health and tourism, and business consultants can utilize it to develop road maps for their clients of future business opportunities in what will continue to be the largest and most rapidly growing part of the world economy.

This book exemplifies the potential of FinTech to deliver important economic and societal gains, such as enhancing competition and financial inclusion to deliver tailored financial products and services at more affordable prices and at greater convenience. The emergence of FinTech directly challenges the business models of incumbent financial intermediaries like banks, which are adapting by developing their own FinTech offerings and partnering with FinTech and large technology firms. FinTech also constitutes both known and unknown risks to financial stability and challenges regulators to evaluate whether existing regulations are sufficient. The emergence of FinTech as a global phenomenon requires insightful cross-country analysis and different perspectives to evaluate its development and associated opportunities and challenges. This book will be of interest to practitioners, regulators and students of this essential enabling technology that is a major component of the Fourth Industrial Revolution.

Economics, Dominique reminds us, is a social science, with prescriptions that are statistical in character but inherently polemical. In contrast to the laws of the natural sciences, economic statements, meaningful as well as meaningless, can be transformed into a vehicle for the promotion of false consciousness, as when the polemical prescriptions of social sciences are used to promote unavowed interests. The axiomatization of economics in the early 1950s, though well-intended, has produced two negative consequences: the equation of science and mathematical formalism by some, and a total lack of concern for experimentation on the part of others. These translate into excessive abstraction, empirical irrelevance, and a total lack of social purpose.

Dominique argues that excessive abstraction is causing economics to gradually lose its social usefulness. This state of affairs has, in turn, led the general public to accept at face value the prescriptions of an untested orthodoxy, such as unfettered globalization, as genuinely scientific. In the era of unfettered globalization, the top 20 percent of the world's income earners have become richer while the bottom 80 percent have become impoverished and environmental degradation has gone unabated. Dominique argues that, according to the scientific theory of economics, the top quintile must pay the costs and the bottom four quintiles ought not bear alone the brunt of globalization. To reverse this outcome, the bottom 80 percent must become pro-active in economic policy formulation. A challenge to contemporary development and economic policy that will be of interest to economists, public policy makers, the international business community, and social activists.

With numerous cogent examples from real estate markets worldwide, Dr. Hines makes it clear that investing in foreign real estate is by no means the same as investing domestically. She shows how, why, and when special strategies must be devised to enter the world market; conveys essential information on global investment opportunities; outlines career opportunities and advancement strategies in international investment; and provides insights into international business in the context of global real estate investing. Her focus on industrial, commercial, and residential real estate reflects both the major investment interests of world-class investment professionals and the diversity of real estate market conditions. Her book is thus an essential resource for professional real estate investors, teachers, and their graduate-level students. Dr. Hines focuses on the general investment strategies that successful and profitable international real estate investors have devised over many years and now follow assiduously. Readers gain knowledge of direct investment in industrial, commercial, and residential real estate and through the purchase of securities, such as real estate investment trusts and mortgage backed issues. After discussing basic international real estate differences and general acquisition strategies, the book moves to functional strategies, such as valuation, land development, construction, financing, and tax strategies. Dr. Hines concludes with a coverage of housing and shopping centers, office buildings, and industrial property investment--all of which allow readers to observe the differences among functional areas and then tie them to the differences among investments invarious types of properties. Her book covers Western, Eastern, and Central Europe; East, Southeast Central, and South Asia; Africa in general, and Morocco in Northwest Africa in particular; plus the Middle East and North and South America.

Despite its growing significance, the legal scrutiny of RTAs remains an underdeveloped academic field. This book considers how the interplay between multilateral and preferential liberalisation of trade in services increasingly raises concerns, both from the perspective of the beneficiaries of such liberalisation and that of regulators. With the application of a thorough article-by-article analysis, the author shows how these concerns lead to vast underutilisation of, and often prejudice against, the benefits of services liberalisation. The book meticulously analyses and compares the EU's obligations under the GATS and the services chapters of several RTAs to finally assess the merits of the various concerns. This book will be an invaluable resource for students and scholars of law and related subjects. It will also be of interest to government officials looking for a detailed analysis of the topic, and practitioners looking for a framework for analysing RTA provisions.

A merger or acquisition is one of the most significant events in the life of a firm and the consequences thereof are multi-faceted: Directors' fiduciary duties, shareholders' rights, valuation methods, structuring, and financing of the deal, to cite a few. Moreover, it requires an army of savvy professionals (accountants and investment banks, etc.) throughout the process; those understanding the technicalities of M&A guarantees and preventing costly missteps. This book explains the steps, distilling the process of both the legal and financial aspects of M&A, for both students and practitioners.