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.

Where presidents or members of affluent families were previously seen, it is increasingly the case that car manufacturers are owned by banks and investment funds which have taken control of the entire economic life of these firms. This has significant impact on the terms of employment and layoffs, wages and precarious work, growing inequalities in income strata, compensation levels for executives, and the implementation of short-termist strategies across business operations. This book explores this increasing financialisation - the predominance of the financial sector over the productive sector - in the automotive industry. In particular it is shown that the financial operations of these companies through leasing, insurance, loans and other financial instruments is now much more profitable than the manufacturing aspects of the business, which was originally the raison d'etre for these fi rms. The chapters demonstrate how there are great demands to increase the return to shareholders as a main concern, despite other metrics and/ or other stakeholders. The work studies the impact of financialisation at the world's five largest automakers which together represent almost 50% of car production, providing an exploratory analysis of profitability, shareholder composition, compensation to executives, workers' salaries, dividend payments to shareholders and employment. Encouraging debate on contemporary economy, this book marks a significant addition to the literature on financialisation, contemporary forms of capitalism, labour and economic sociology more broadly.

Regulation is a public policy approach closely related to calculations of the equilibrium of supply and demand and to cost-benefit analyses. Governments combine a variety of incentives and restrictions on behavior, including laws and regulations, in order to guide enterprises and smaller entities within the economy toward pursuing policies in the public interest. This book offers an in-depth and systematic review of the economic theory of regulation, with particular emphasis on the Chinese context. The basic concepts cover economic and social regulation, regulatory process, regulation under asymmetric information, and capture theory. Drawing on a broad range of cases from across the telecommunications, electric power, and water sectors since the founding of the People's Republic of China in 1949, the author explores economic regulation in China with reference to natural monopoly, investment, price level and price structure, entry, and competition. In addition, he discusses theories of externalities and asymmetric information, which are analyzed in the light of China's environmental and product quality regulation. The author argues that the Chinese government has deregulated its economy to a large extent in the past and proposes that the Chinese government will enforce more social regulation in the future. Students and scholars of government regulation, economics, and industrial organization will find this volume to be an essential guide.

This Handbook brings together 40 of the world's leading scholars and rising stars who study international law from disciplines in the humanities - from history to literature, philosophy to the visual arts - to showcase the distinctive contributions that this field has made to the study of international law over the past two decades. Including authors from Australia, Canada, Europe, India, South Africa, the UK and the USA, all the contributors engage the question of what is distinctive, and critical, about the work that has been done and that continues to be done in the field of 'international law and the humanities'. For many of these authors, answering this question involves reflecting on the work they themselves have been contributing to this path-breaking field since its inception at the end of the twentieth century. For others, it involves offering models of the new work they are carrying out, or else reflecting on the future directions of a field that has now taken its place as one of the most important sites for the study of international legal practice and theory. Each of the book's six parts foregrounds a different element, or cluster of elements, of international law and the humanities, from an attention to the office, conduct and training of the jurist and jurisprudent (Part 1); to scholarly craft and technique (Part 2); to questions of authority and responsibility (Part 3); history and historiography (Part 4); plurality and community (Part 5); as well as the challenge of thinking, and rethinking, international legal concepts for our times (Part 6). Outlining new ways of imagining, and doing, international law at a moment in time when original, critical thought and practice is more necessary than ever, this Handbook will be essential for scholars, students and practitioners in international law, international relations, as well as in law and the humanities more generally.

How did a country with a dearth of natural resources, a sprawling population congested in a limited arable land transform itself to a modern industrial state within a generation? How could these have been achieved given the lingering geopolitical threats to its very survival as a state, as evidenced by the Korean War and the internecine aggressive posturing of its neighbor from the north? This book looks at strategies, institutional arrangement, role of entrepreneurs and workers in this odyssey, and on how those factors have worked together through effective leadership to transform South Korea's economic fortunes.

The ramifications of the Global Financial Crisis, which erupted in 2007, continue to surprise not only the general public but also finance professionals, economists, and journalists. Faced with this challenge, Preparing for the Next Financial Crisis goes back to basics. The authors ask: what do theory and empirical observations tell us about the causes and the consequences of financial crisis and instability? In what has become an increasingly complex financial world, what lessons can we learn from economic policies, which have been implemented, and research, which has developed extremely rapidly in recent years, so as not to repeat past mistakes? In this comprehensive review of the literature, which is both complete and balanced, the authors highlight the points of consensus among economists and policymakers. They assess the capacity of economic policies and institutions in limiting the cost of financial instability. In conclusion, they ask if the financial system has become safer, in the light especially of the Covid-19 Global Crisis. Ten years after the GFC crisis, this is a timely review of the reform agenda, the progress made, and the areas where further changes need to be made to address new risks and challenges.

European integration has had many successes and failures, Brexit being one of the biggest failures. Despite the setbacks, the EU has been acquiring more functions and members and has now reached a stage where it needs to become a political adult. In this book, one of the world's leading authorities on Europe provides a lucid and wide-ranging appraisal of contemporary European affairs - of how the EU became what it is today and the key challenges Europeans must now confront. These challenges include the search for a common foreign and security policy that will also require a more symmetrical transatlantic relationship; the search for democracy beyond the nation state; more inclusive societies; the development of the euro into a fully fledged currency; a higher degree of autonomy in high technology; and the greening of economies. In Tsoukalis' view, what is at stake in these challenges is whether the EU can exercise effective political power in a multipolar, highly asymmetrical and increasingly unstable world, and whether it can find a workable relationship between global markets and domestic social contracts. Willing and able countries should lead the way. The stakes are high - and not just for Europe. A declining and marginalized Europe would not be able to defend fundamental interests and values, including freedom and security for its citizens. And the world would greatly benefit from the moderating influence of a regional power that operates on the basis of broad consensus and compromise. This bold and ambitious book, based on extensive experience of European affairs, will be of value to anyone interested in Europe and its future as well as anyone concerned with the great political challenges of our time.

A uniquely hybrid approach to welfare state policy, ecological sustainability and social transformation, this book explores transformative models of welfare change. Using Ireland as a case study, it addresses the institutional adaptations needed to move towards a sustainable welfare state, and the policy of making such transformation happen. It takes a theoretical and practical approach to implementing an alternative paradigm for welfare in the context of globalisation, climate change, social cohesion, automation, economic and power inequalities, intersectionality, and environmental sustainability, as well as perpetual crisis, including the pandemic.

India's anticipated rise to prominence in what has been termed the 'Asian 21st century' will have a significant impact upon geopolitics in the coming decades. As India's stature continues to increase across Asia and the world, appreciating which interests and principles structure the country's international interaction has never been more important. Central to these dynamics is how India's identity - and the longstanding values, principles and practices underpinning it - acts as the paramount factor that deeply structures the conduct of its international affairs. Acknowledging this centrality, this edited volume uses this factor as its foremost theme of analysis through which to understand and analyse India's most important regional, great power and diplomatic interactions. Not only providing a mechanism better to appreciate the historical foundations of these relationships, the focus on identity is also necessary to appreciate how the Hindu nationalism of the ruling Bharatiya Janata Party (BJP) under the leadership of Narendra Modi is now permeating Indian diplomacy. For the BJP, the pursuit - and attainment - of global influence and heightened status is the driving imperative of the BJP with regard to India's contemporary international affairs. Chapter 6 of this book is available for free in PDF format as Open Access from the individual product page at www.taylorfrancis.com. It has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.

Includes up-to-date analysis of the growing tensions between the USA and China.

Originally published in 1966, this book takes a look at the ancient and traditional, as well as more recent procedures in parliament for controlling finance. It questions outdated procedures and also examines the tendency of the party leaders to restrict control and even debate of financial matters in the House of Commons.

This outstanding book examines whether and how the finance-led growth model can be transformed. The authors' insightful analyses make significant contributions to our understanding of the global economic crisis since 2008 and the search for possible new paths beyond the crisis.' - Stein Kuhnle, University of Bergen, Norway and Hertie School of Governance, Germany'This book sheds a powerful light on the current uncertainty of the world economy. Indispensable reading for understanding the roots of the crisis and the possible ways out.' - Carlota Perez, Technological University of Tallinn, Estonia and London School of Economics, UK This timely and far-reaching book addresses the long-term impact of the recent global economic crisis. New light is shed on the crisis and its historical roots, and resolutions for a more robust, resilient future socio-economic model are prescribed. Leading experts across a range of field including macroeconomics, politics, economic history, social policy, linguistics and global economic relations address key issues emerging from the crisis. They consider whether a new era in interactions between state, society and markets is actually dawning, and whether the finance-led economic growth model will be transformed into a new and more stable model. The role of the crisis in economy, polity and society, in shaking up existing institutional regimes and in paving the way for new ones is also discussed. Post-crisis combinations of state-society-economy relations are identified, and the question of whether the crisis has led to the reconsideration of economic relations and their institutional embeddedness is explored. This challenging book will provide a thought provoking read for academics, students and researchers focusing on economics, political science and sociology. Policymakers in the fields of economic, industrial and social policy will also find this book to be an informative point of reference. Contributors: R.E. Backhouse, M. Benner, R. Boyer, A.W. Gustafsson, F. Hansen, B. Jessop, L. Jonung, J. Lindvall, A. Lundqvist, B.-A. Lundvall, L. Schoen, N.-L. Sum, J. Svensson

This three-volume set collects key previously published articles in the field of development economics, covering alternative approaches and going beyond the boundaries of economics narrowly defined. Some of the included papers are classic contributions, some are authoritative survey articles and others are interesting new contributions. The collection covers such topics as: underdevelopment, growth and income distribution; resources in development; sectoral issues; open economy issues; and economic policies and institutions. The final section offers appraisals of the present state and future evolution of development economics.

Originally published in 1994, this volume analyses the relationship between political parties and trade unions in Poland, the Czech Republic, Slovakia, Hungary and Bulgaria. Political parties had high visibility in the changes that took place in Eastern Europe during the 1980s and early 1990s. Far less visible were the developments in the trade union sphere, where the old 'mass organizations' of the communist period, now independent, were joined by newly-formed organizations, and both played a central role in politics.

Originally published in 1991, this book opens with a theoretical and historical section and analyses the affairs of both the communist party and the trade unions of specific European countries. The first part of the book deals with cases of communist strength, where the communist part had close links with a particular trade union (France, Italy, Spain). The second part looks at cases where social democracy dominated the Left (Belgium, The Netherlands and the UK). Two further essays examine developments in the 1980s in Hungary and Poland.

Originally published in 1976, Democracy and Government in European Trade Unions is a detailed and practical examination of the organisational structure and internal control of trade unions in 8 Western European countries. It provides an introduction to the characteristics and styles of trade unionism in Europe. Written at a time when the international dimension of trade unionism had taken on a new significance, this comprehensive study explains and compares fundamental issues of union organisation and administration. The relationship between individual unions and the national confederations is described and the internal operation of unions in the engineering, textile and railway unions of the various countries examined. This guide to the ways and means of European trade unionism during the 1970s will be of interest to students of industrial relations and trade unionists.

- potential for broad audience, with appeal to practitioners in the clinical field as well as to lecturers in an academic context - engages with contemporary issues

The Covid-19 pandemic brought about significant changes in the world order. It not only reshaped the global geopolitical architecture but also created newer challenges and opportunities for international trade and businesses. This book deliberates on these new global realities through a multidisciplinary perspective. It delves into various key issues pertaining to finance, infrastructure, policy, geostrategy, and entrepreneurship in the Indian context. The volume discusses themes such as geostrategic shifts and their impact on the Indo-Pacific region, the effects of Covid-19 on international and economic security, India-China bilateral ties, FDI spill over on domestic firms, entrepreneurship education in India, and the Thai Canal project. Rich in insights on various geo-economic perspectives that continue to shape the global business environment, the book will be useful for students and scholars of sociology, business management, business economics, international trade, geopolitics, international relations, political sociology, and political studies. It will serve as a useful reference for academics, researchers, think tanks, industry professionals, and policymakers.

The first stock exchange in Warsaw - capital city of the Kingdom of Poland- was established in 1817. Over the past 205 years, the fortunes of the capital market have been closely linked to the "bumpy road" of Polish history. The establishment of the GPW Warsaw Stock Exchange in 1991 was a landmark for transformation from a centrally planned communist economy to a market-driven capitalist one. Since the doors of the exchange reopened, Polish GDP per capita (current USD) increased eight times, translating into an average yearly growth rate of over 7%. The capital market has played a pivotal role in the economic success of Poland over the last three decades. It is not easy to precisely quantify the impact, as it was rather a spill-over effect. Economic growth has fostered the development of a capital market, and more efficient conversion of savings to investments via the capital market. The excellence of capital market institutions can be gauged with reference to various parameters. A synthetic measure is so-called market status. According to FTSE Russell (global index provider), Polish capital attained developed market status in 2018, being the first and only post-communist state to do so. It is fair to say that transformation has been completed and developed market status indicates clearly that the institutions and regulations are world class. The current challenge is competing with other developed markets for the best issuers and offering the most demanding investors an excellent trading experience. This book offers scientific insight into the Polish capital market story. Authored by a group of renowned scholars, with contributions aspiring to the highest academic standards for theoretical considerations and empirical research. The book covers various topics, including links between monetary policy and capital markets, micro and macro market structures, and investors and issuers' behaviour and strategies. All chapters are rooted in contemporary finance theory, supported by various econometric models based on the most recently available data. The book aims to provide academics and practitioners insight into the Polish capital market, appealing especially to those interested in gaining a deeper understanding of emerging markets' successful transformation into developed ones. It can also be used as supplementary reading for doctoral and master's students in finance, particularly relating to capital markets and economics - predominantly development economics and economic policy.

Examines the ongoing process of how labor and work are understood in the contemporary marketplace Offers important sociological, political, and economic analysis of labor, management, organization, and work as a social phenomena Contributions from key scholars across an array of disciplines

This edited volume explores the question of the lawfulness under international law of economic activities in occupied territories from the perspectives of international law, EU law, and business and human rights. Providing a multi-level overview of relevant practices, policies and cases, the book is divided in three parts, each dealing with how different legal fields have come to grips with the challenges brought about by the question of the lawfulness under international law of economic activities in occupied territories. The first part includes contributions pertaining to the international law dimension of the question. It contains chapters on the conjunction between jus in bello, jus ad bellum and international human rights law in the context of exploitation of natural resources in territories under belligerent occupation; on third party obligations flowing from the application of occupation law in relation to natural resources exploitation; and on State practice with regards to trading with occupied territories. The second part focuses on EU law and contains contributions that assess the EU's approach to occupied territories and the extent to which this approach comports with the EU's obligations under international law; contributions providing an in-depth assessment of the case-law of the CJEU on occupied territories; as well as contributions pertaining to the political considerations that may influence the legal framing of questions pertaining to occupied territories. The final part focuses on the business and human rights perspective, with chapters on investment arbitration as a means for holding the occupant accountable for its conduct towards foreign investments and investors; on the role and impact of the soft law framework governing corporate activity (such as the UN Guiding Principles) on business involvement with occupied territories; as well as a final case study on the dispute involving Israeli football activity in settlements located in the OPT and the legal responsibility of FIFA in this regard. The book will appeal to academics, practitioners and policy-makers alike.

This book evaluates China's relations with sub-regional Southeast Asia through its Belt and Road Initiative (BRI) and the Lancang-Mekong Cooperation framework. The book looks at domestic drivers and regional receptivity of China's Belt and Road Initiative and also delves into the challenges of China's engagement in the Greater Mekong Sub-region. The book examines how China's BRI will contribute to the development of these countries, to regional economic integration and cooperation processes within a political-economic context. It addresses the BRI process within the GMS on three levels: regional, individual recipient countries and the Chinese perspective. The case studies in the book will help to provide insights on China's growing economic influence in sub-regional Southeast Asia and its Belt and Road Initiative. This book will appeal to researchers interested in the BRI, China's relations with Southeast Asia and China's neighbourhood policy and how domestic considerations are influencing China's policy making.

In response to the outbreak of the COVID-19 pandemic, governments and international institutions took steps to contain the harmful consequences on citizens' lives and health, as well as the economy. In the short term, the goal was to limit the spread of the virus and the effects of the restrictions on the economy and, in the longer run, to prevent the appearance of new cases, facilitate the end of social restrictions, reboot the economy, and return to a path of sustainable growth and development. This is an economic and legal exploration of the impact of the pandemic, in the Polish context, examining Polish society and the economy as well as the response of the Polish authorities to the pandemic. The choice of Poland as the subject of the research is justified by its specificity. On the one hand, Poland is a country undergoing systemic transformation with access to European and transatlantic institutions. On the other hand, in recent years, it has evolved towards a hybrid democracy and is currently diverging away from the EU project. The book presents Poland's legal and institutional response to the pandemic, analysed through the prism of common European values and Poland's international commitments. It signposts the financial solutions adopted by the EU in the aftermath of the outbreak to assess how they will be used in combatting the short and longer-term consequences of the pandemic in Poland. The book is an introduction to original research, shaped by the novelty of the subject matter, and as such, will be essential reading for students and researchers of economics, law, and international relations.

The UK's departure from the EU has profoundly affected the politics and economics of Northern Ireland. Brexit has shattered a political accommodation that was taking shape in the region that involved nationalism and unionism refraining from aggressively pursuing their own objectives or making excessive demands on each other. Economically, it has made the task of building an innovative economy in the region immeasurably more difficult. Without radical change, Northern Ireland is destined to be an economic outhouse of an under-performing UK economy. This book represents the first systematic study of the impact of Brexit on the political and economic future of Northern Ireland and Ireland. It provides a detailed assessment of the consequences of the Belfast Agreement and highlights how Brexit imperils the advances that have been made since its signing in 1998. It makes a dispassionate assessment of the changes that may be necessary to create a stronger Northern Ireland economy. On the one hand, demands for the immediate unification of Ireland that are now being made loudly and persistently by nationalists and republicans are considered too precipitous. The two economies on the island are not yet ready for Irish unity. On the other hand, the book argues the case for a radical reorientation of the Northern Ireland economy through the incremental creation of an all-Ireland economy. The book cuts through the rhetoric that characterizes so much discussion about the Northern Ireland economy and provides a hard-headed appraisal of not only its structure and performance, but also the economic feasibility of Irish unity.

The Nordic Model is the 20th-century Scandinavian recipe for combining stable democracies, individual freedom, economic growth and comprehensive systems for social security. But what happens when Sweden and Finland - two countries topping global indexes for competitiveness, productivity, growth, quality of life, prosperity, and equality - start doubting themselves and their future? Is the Nordic Model at a crossroads? Historically, consensus, continuity, social cohesion, and broad social trust have been hailed as key components for the success and for the self-images of Sweden and Finland. In the contemporary, however, political debates in both countries are increasingly focused on risks, threats, and worry. Social disintegration, political polarization, geopolitical anxieties, and threat of terrorism are often dominant themes. This book focuses on what appears to be a paradox: countries with low income differences, high faith in social institutions, and relatively high cultural homogeneity becoming fixated on the fear of polarization, disintegration, and diminished social trust. Unpacking the presentist discourse of "worry" and a sense of interregnum at the face of geopolitical tensions, digitalization, and globalization, as well as challenges to democracy, the chapters take steps back in time and explore the current conjecture through the eyes of historians and social scientists, addressing key aspects of and challenges to both the contemporary and future Nordic Model. In addition, the functioning and efficacy of the participatory democracy and current protocols of decision-making are debated. This work is essential reading for students and scholars of the welfare state, social reforms, and populism, as well as Nordic and Scandinavian studies. The Open Access version of this book, available at www.taylorfrancis.com, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.