This book addresses the problems of Latin America, through two of the most important features of the post-Bretton Woods economic order, large corporations and weak financial markets. In turn, it shows that their impact on economic growth and development is feeble and short-lived. This resulted in income concentration and an extremely unequal distribution of wealth in the region. As a result, large corporations and financial markets became central institutions in developing economies. In this context, Latin American countries globalized their economies, modifying their productive and financial structures and strengthening large corporation and non- financial structures. This economic order was a failure, as it was unable to achieve development in Latin America; large capital corporations either re-primarized their productive activity or developed an organization based on assembly manufacture, and, as such, financial markets remained underdeveloped because large corporations did not operate through domestic financial markets. In this book, the effects of these trends are analyzed in regional and country studies, while the impact of the 2008 Great Financial Crisis on Latin American economies are also considered. Researchers and students, especially those interested in a Post-Keynesian or heterodox view of the region, will find these studies illuminating.

Peter van Bergeijk brings together 40 leading experts from all continents to analyze state-of-the-art data covering the sharp increase in (smart) sanctions in the last decade. Original chapters provide detailed analyses on the determinants of sanction success and failure, complemented with innovative research on the impact of sanctions. This timely Research Handbook provides both a thorough discussion of methodology as well as evidence-based policy advice on the efficient application of boycotts, embargoes, and targeted sanctions, including trade, travel and financial sanctions. The use of case studies from Cuba, Iran, North Korea and Russia illustrate developments and demonstrate new methods, including stochastic frontier analysis, comparative quantitative analysis and meta-analysis. Providing crucial information, this Research Handbook will be an excellent resource for academic researchers in international political economy and international relations as well as policy makers within national and global institutions. It will also provide obligatory reading for students also studying within these fields.

The importance of supply chain and logistics knowledge has been growing significantly with the beginning of the new millennium, especially after the COVID-19 pandemic outbreak, as logistics and international transport perform one of the most essential services of the modern globalized and interconnected world. This influence of the new dynamic world brings both challenges and motivation for researchers and practitioners with interests in this field. Further study on the opportunities and difficulties of business logistics is essential to protect the future of international business. Cases on International Business Logistics in the Middle East provides innovative information on logistics and supply chain management and delivers insights into contemporary findings of logistics and supply chain based on real case studies. Covering critical topics such as manufacturing, warehousing, air transport, and big data, this reference work is ideal for managers, executives, business owners, researchers, scholars, academicians, practitioners, instructors, and students.

This timely book presents an in-depth investigation of who benefits from European financial market regulatory measures and how decision-makers and stakeholders are held politically and administratively accountable. The extensive study illustrates the full range of the actors involved in key regulatory processes such as the regulation of high-frequency trading and the activities of central-clearing counterparties. Chapters outline how politicians, regulators and market players are linked in various political and administrative accountability mechanisms. Providing analysis of how the accountability channels are linked to policy content, contributors ask whether specific regulatory objectives and results give rise to the mobilising of accountability mechanisms. Regulating Finance in Europe critically examines the implementation of major EU legislative packages in financial regulation (MiFID II and CMU), offering a unique empirical insight into how different modes of accountability in financial market regulation are linked with different policy effects. This comprehensive yet accessible book will be an invaluable read for politicians and practitioners working in finance as well as academics in EU politics and policies. It will also provide a useful resource for undergraduate and postgraduate students of political science, law and economics.

'Monetary policy is not just a matter of optimal stabilization policy; it is also fundamentally a matter of politics. But while this observation is commonplace, it is not adequately incorporated into economists' reasoning and analysis. Gerald Epstein's work represents perhaps the most prominent exception to this last rule. Reading him provides a salutary reminder that we need to pay closer attention to this political aspect when thinking about central banks and what they do.' - Barry Eichengreen, University of California, Berkeley, US Central banks are among the most powerful government economic institutions in the world. This volume explores the economic and political contours of the struggle for influence over the policies of central banks such as the Federal Reserve, and the implications of this struggle for economic performance and the distribution of wealth and power in society. Written over several decades by Gerald Epstein and co-authors, these works explore why central banks do what they do, and how they could better operate. Epstein shows that central banks are a contested terrain over which major economic and political groups fight for control; and demonstrates that though in the US and most other countries, private bankers have the upper-hand in this political struggle, they don t always win. Graduate students, faculty and advanced undergraduates in economics, political science and sociology who are interested in central banking and finance as well as specialists who focus on central banking will find greater understanding of central banks through The Political Economy of Central Banking.

Motivated by both the growing economic significance of Asia in the global economy and the pivotal role played by Asia-focused research in the enrichment of the subject of development economics, the author has provided a timely and valuable review that provides a comprehensive picture of policy making and economic performance of these countries over the entire post-Second World War era.

This original book examines how investment theory and regulatory constraints are linked to the professional processes of portfolio investments, and how the principles of Islam as defined by sharia fit into these processes. It also explores the measures required to create and grow a global Islamic asset management industry. Established on a foundation of Modern Portfolio Theory, the book extends the theory to include asset management based on sharia. Chapters also consider how ethical investing is quickly becoming the driving force of the $100 trillion asset management industry. Taking a practical approach, John A. Sandwick, M. Kabir Hassan and Pablo Collazzo compare conventional and sharia portfolio performance and risk through measurement tools commonly used in asset management, including Sharpe ratio, standard deviation, Value at Risk, annualized mean return, and correlation. They map conventional portfolio construction and optimization, then reproduce the same processes with real-world, sharia-compliant portfolios. This book will be critical reading for scholars and students of Islamic economics and finance, Islamic studies, and financial regulation. Considering Islamic asset management as a unique function of Islamic finance, this book will also be a useful resource for practitioners and finance professionals.

Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business and law, expertly written by the world's leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas. This Advanced Introduction provides a comprehensive guide to the vibrant and expanding global production network (GPN) approach. Neil M. Coe deftly explores the antecedents and theoretical underpinnings of GPN analysis, as well as debates and controversies surrounding the approach and its position in wider interdisciplinary discussions. He argues overall that, during a time of profound ongoing challenges within the global economic system, the need for a GPN framework has never been more pressing. Key features include: an up-to-date assessment of current debates in the literature an integrated perspective on how GPN thinking can aid understanding of capitalist uneven development a wide range of sectoral and geographical examples a thorough discussion of connections to cognate debates in the wider social sciences and business and management studies identification of future research challenges in the field. In short, Advanced Introduction to Global Production Networks is an ideal introductory book for students at both undergraduate and postgraduate levels in geography, economics and business looking to understand the organization and dynamics of the global economy.

Contemporary capitalism is always evolving. From digital technologies to cryptocurrencies, current trends in political economy are much discussed, but often little understood. So where can we turn for clarity? As Michael Roberts and Guglielmo Carchedi argue, new trends don't necessarily call for new theory. In Capitalism in the 21st Century, the authors show how Marx's law of value explains numerous issues in our modern world. In both advanced economies and the periphery, value theory provides a piercing analytical framework through which we can approach topics as varied as labour, profitability, automation and AI, the environment, nature and ecology, the role of China, imperialism and the state. This is an ambitious work that will appeal to both heterodox economists and labour movement activists alike, as it demonstrates the ongoing contemporary relevance of Marxist theory to current trends in political economy.

This timely book focuses on the upgrading of firms within the global garment industry, examining how garment manufacturers and retailers in different countries internationalize, develop their capabilities and enhance their sustainability. It highlights the important role the global garments industry plays in the socio-economic development and environmental outcomes of emerging economies. Drawing on firm-centric, multi-level analyses, the book addresses four key questions: how do apparel manufacturing companies in emerging economies internationalize? What factors promote or hinder internationalization? What influences the abilities of suppliers to develop different capabilities? How do firms achieve sustainability? Interdisciplinary contributions draw on a range of perspectives, including global value chains, international business, operations management, innovation, and sociology, to answer these questions. Providing novel insights to the topic, this book will help firms, researchers and national and multilateral organisations improve the competitiveness of suppliers, workers' well-being and environmental outcomes. It will be particularly useful to business economics and economic geography scholars.

2019 marked the 40th anniversary of the publication of Anthony P. Thirlwall's classic paper that laid out what became known as Thirlwall''s law. This article introduced and provided empirical evidence in favor of the proposition that the long-run rate of growth of an economy compatible with balance-of-payments equilibrium can be approximated by the simple rule of the ratio of the growth of exports to the income elasticity of demand for imports. Thirlwall's law provides a theoretical underpinning for several of the arguments traditionally espoused by the heterodox followers of Keynes. In addition, Thirlwall's law can also be viewed as a guide to policy-making. It has spurred a rich research agenda at both the theoretical and empirical levels. Theoretically the core model has been extended to include the different components of the current account of the balance of payments. Empirically, it has withstood the test of time and has been corroborated, with perhaps a few exceptions, for a variety of developed and developing countries under different historical contexts and different periods of time. This re-release of the special issue of the Review of Keynesian Economics brings together experts and researchers to present the latest developments and debates on Thirlwall's law. Students, economists and policy makers will find this volume enlightening.

With formidable challenges facing Europe today, effective and well-designed structural reforms are key to shaping Europe?'s future. This book examines the achievements and failures of past structural policies so that new concepts can adapt to address remaining and newly emerging challenges with greater success. Tangible policy advice is offered in the original contributions to this book, re-assessing past ?'moments of truth'? in European structural policy. The book focuses on the area of Central, Eastern and Southeastern Europe (CESEE), not least because this region has been largely successful through a profound transition period. Highlighting the social aspects and distributional effects of reforms that go beyond liberalization and deregulation, the book covers key issues facing Europe in the future, particularly those arising from technological innovation. Structural Reforms for Growth and Cohesion will prove a useful book for academic researchers looking into European policy progress and reform. Indeed, it will also be a vital reference tool for policymakers seeking to deepen their understanding of the challenges facing a modern Europe and how these can be tackled. Contributors include: O. Causa, L. Csaba, O. Dreute, G. Fischer, J.-M. Frie, H. Gabrisch, M. Ghodsi, J. Grubler, S. Guriev, V. Isaila, J. Makuch, A. Mungiu-Pippidi, E. Nowotny, S. Puntscher Riekman, P. Ramskogler, O. Reiter, D. Ritzberger-Grunwald, J. Rusnok, H. Schuberth, H. Schweiger, R. Stehrer, P. Strzelecki, D. Taglioni, L. Vinhas de Souza, B. Virag

Acclaim for previous edition: 'Benjamin J. Cohen's Advanced Introduction to International Political Economy evaluates the fragmented intellectual landscape of international political economy and suggests points of convergence, if not integration, among its varied elements. His analysis is wide-ranging and balanced, geographically and in its examination of a variety of standpoints; it is engaging in its combination of sympathy and criticism. All advanced students of the field will benefit from reading it.' - Robert O. Keohane, Princeton University, US Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences and law, expertly written by the world's leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas. Now in its second edition, Benjamin J. Cohen's introduction provides a comprehensive and up-to-date global survey of the field of international political economy. With detailed discussions regarding the divergent paths of different schools of thought in the field, this unique guide explores the links between contending factions. This Advanced Introduction gives students access to the multiple analytical styles and traditions of all perspectives in this rich field of study. Key features of the second edition: ? Concise introduction to the field in an accessible, non-technical form updated with the most recent discussions in IPE? Further in depth analysis of the most established American and British schools of IPE? Extended discussion of other key regions contributing to IPE, including Continental Europe, Latin America, Australia, Canada and China. Written in a concise and dynamic style, this Advanced Introduction serves as a thoughtful entry point text for advanced undergraduate and graduate students, as well as being an excellent go-to resource for scholars specializing in international political economy.

Bill Pritchard provides an important update on how current trade methodologies are implemented as China becomes one of the world's largest fresh fruit importers from countries such as Laos, Myanmar, Thailand and Vietnam. The book also looks at their distinctive trade aspects and what can be learnt from alternative practices carried out in other countries through the use of global production networks. An in-depth analysis provides the reader with a welcome insight into existing processes from production through to export, often through informal routes, with a marketing structure providing more power to the distributors and brokers and mixed effects on the farmers. Using empirical evidence from four countries, this book explores what could, and should, be implemented in this under-researched topic to aid rural development. This will be an invaluable resource for researchers of human geography, international trade and Asian studies, particularly those with a focus on Southeast Asia and China.

Economics is business, and politics is power. In this insightful book, David Reisman explores the interaction between authority and exchange in a global village where individual nation states - once the pinnacle of political organisation - increasingly depend on each other for their material well-being. Taking a transnational and impartial perspective, the author builds a comprehensive and intricate narrative. He dissects the emergence of the contemporary global economy and explains its impact on the sovereignty and strength of nations. Reisman explores the ways in which liberals, socialists and nationalists can reach a viable consensus in a new social order where the national interest must be the global interest as well. Offering authoritative, integrated and critical guidance to a topic that is of ever greater importance, this book is crucial reading for students of global political economy and international politics.

This volume presents thirteen chapters prepared by senior researchers and former policy makers on key policy issues confronting China and the West. They focus on the role of the state in economic development, trade issues and the part played by innovation, digitalization and leadership. In a challenging and rapidly changing world, the book aims to provide not only authoritative analyses and perspectives, but to stimulate further thinking and debates about the common future. Each chapter is in the form of a short policy brief. China and the West is aimed for policy makers, business leaders, academics and students.

Since the collapse of the Soviet Union in 1991, Russia has made enormous strides toward creating a free market. In just over twenty years, the country's economy has been completely transformed. Today, most Russian companies have been privatized and the country has developed fully functioning capital markets. Indeed, over the course of the past two decades, the Russian equity market has, on more than one occasion, been the world's best-performing stock market. While the country and its leadership continue to face great structural hurdles that must be overcome, recent progress has been nothing short of remarkable. This book brings together some of the world's most successful Russia-dedicated portfolio managers, economists and market participants to share their personal experiences in this dynamic market. Each of these professionals has a long-term relationship with Russia and has lived as well as worked in Russia: they have many years of experience in the country's financial markets. Indeed, many of the contributors to this book have been active in Russia since the very inception of the market and each is uniquely qualified to offer a personal and authoritative account of Russia's journey toward capitalism. The book is divided into two parts, one giving a more general overview of the market's development and the other focusing on the personal experiences of Russia's capitalist pioneers. Each chapter offers a clear historical description of principal developments, while the personal touch enhances the reader's understanding of how market forces developed, how obstacles were overcome, and how so many market participants have been able to reap great rewards in one of the world's most dynamic emerging markets. The contributors also discuss the road ahead, examining both the positive and the negative factors that will affect the Russian economy in the years ahead.

As the COVID-19 pandemic comes to a close, inflation has revealed itself to be a major problem for all countries of the developed world. The problem has been exacerbated in developing nations, which had problems even before the pandemic. Energy prices have increased, and with the increase in transportation costs, it has been more difficult for many retailers to stock shelves as they did before the pandemic. It is understood by many that the rising prices and supply chain disruptions will likely not be temporary and must be managed by future executives. Managing Inflation and Supply Chain Disruptions in the Global Economy uncovers the many ways businesses can manage this new phenomenon. It discusses global crises and their effects on the global economy in terms of inflation and supply chain. Covering topics such as inflationist impact, crisis leadership, and deglobalization, this premier reference source is an essential resource for economists, supply chain specialists, government officials, consultants, business leaders and executives, logistics professionals, IT managers, students and educators of higher education, researchers, and academicians.

Why and how do politics, society and economics shape the growth and failure of labour markets? Does government intervention help or harm labour market reforms/adjustments in times of economic downturn? What forces drive such government intervention and do they differ from society to society?In addressing these big-picture questions, this book's analytical scope is heavily centred around the topic of labour markets' performance. The book argues that performance in labour markets across countries are influenced by their labour market policies. In turn, these policies are shaped, in varying degrees, by the country's politics. Each chapter in this book dives into the labour market experiences in various countries to demonstrate why in some countries, labour markets perform better than in other countries. Major findings from this book suggest that countries can produce better economic and social outcomes (e.g. lower socio-economic inequality) if their labour market policies are aimed at fostering a socially and politically stable society via greater equity in wealth distribution across various socio-cultural and income groups.This book is an essential read for any public policy researchers, policy practitioners and undergraduate/graduate students who are interested or vested in the topic of labour markets' performance in the political, social and economic dimensions. Particularly, this book provides a critical synthesis of the labour market experiences in many countries. Hence, the book serves as an ideational tool to advance future labour market research and policy.

'The definitive account of the history of poverty finance' - Susanne Soederberg Finance, mobile and digital technologies - or 'fintech' - are being heralded in the world of development by the likes of the IMF and World Bank as a silver bullet in the fight against poverty. But should we believe the hype? A Critical History of Poverty Finance demonstrates how newfangled 'digital financial inclusion' efforts suffer from the same essential flaws as earlier iterations of neoliberal 'financial inclusion'. Relying on artificially created markets that simply aren't there among the world's most disadvantaged economic actors, they also reinforce existing patterns of inequality and uneven development, many of which date back to the colonial era. Bernards offers an astute analysis of the current fintech fad, contextualised through a detailed colonial history of development finance, that ultimately reveals the neoliberal vision of poverty alleviation for the pipe dream it is.

'. . . provides a good overview of the issues in economic geography both in terms of theory and applications. This is a good book for starters, who want to find a direction within economic geography, and are looking for a book that provides a brief, but interesting, outlook of the main topics investigated in economic geography.' - Vitor Braga, Economic Geography Research Group This well-researched book provides a concise contribution to a large-scale debate on economic globalization. Martin Sokol introduces key theoretical approaches that help us to understand how economies work, why they suffer recessions and crises, and why economic inequalities at various levels are growing in the context of globalization. He introduces key economic geography concepts and theories, demonstrating their application to our contemporary globalizing world. The role that economic geography may play in informing policy making is highlighted, and debates surrounding the recent global financial and economic crisis are expounded. This highly accessible book will prove an essential reference tool for academics, students and researchers focusing on geography, economics, planning and regional development, development studies, international politics and international business. Policy makers and practitioners in local, regional and national authorities, international bodies and non-governmental organizations will also find this book to be an invaluable resource. Contents: Introduction 1. Economic Globalisation, Inequality and Instability 2. What is Economic Geography About? 3. Key Approaches in Economic Geography 4. Neo-classical Approach, Location Theory and Beyond 5. Marxist-inspired Approaches and Uneven Development 6. Alternative Approaches and New Economic Geography 7. Economic Geographies of the Contemporary World 8. Economic Geography and Policy Challenges Appendix: Useful Journals and Internet Sources Bibliography Index

Lecture Notes in International Trade Theory covers classical international trade models (including the Ricardian, Ricardo Viner, and Heckscher-Ohlin-Samuelson models). The course is designed for M.Sc. and first year PhD students. It relies on both graphical and analytic methods, requiring only intermediate microeconomics and a solid grounding in calculus. The material emphasizes 'second-best' settings, where markets are imperfect. The goal is to equip students with a good enough understanding of open-economy general equilibrium relations that they understand how distortions ripple across different markets, e.g. commodity and factor markets. The Author applies these ideas to environmental and natural resource problems, including pollution 'leakage' (where pollution reductions in one country are offset by trading partners' increased pollution) and imperfect property rights. Other applications include the general equilibrium effects of commodity and trade taxes, international transfers (the 'transfer problem'), minimum wage constraints, and immiserizing growth. The Author assumes that students have some experience in formulating and answering comparative statics questions in an optimization setting. Building on these skills, and developing the idea of stability in an equilibrium setting (the Marshall Lerner condition), students learn how to formulate and answer comparative static questions in trade models.

Globalization: A Multi-Dimensional System provides a comprehensive understanding of the complex process of globalization and how it impacts nations, organizations and individuals who operate in its environment. C. Gopinath addresses why some nations welcome its benefits whilst others seek protection from it and provides an insightful look into arguments for and against globalization. Highlighting important updated content on the topic, this new edition: Takes a comprehensive multidisciplinary view of globalization within five domains: economy, politics, social, business and physical Discusses underlying theories and provides a framework for step-by-step analyses of global issues from a systems perspective Enhanced chapters provide notes and definitions to help reinforce key items and include several examples of contemporary events and issues as illustrations Instructors' website includes PowerPoint slides, test bank and guidelines for case discussion and projects. This all-encompassing fourth edition will be an excellent resource for sociology, business and management students. The book will also provide an illustrative reference to practitioners in international economics, international relations and cross-cultural management.