The taxation of extractive industries exploiting oil, gas, or minerals is usually treated as a sovereign, national policy and administration issue.This book offers a uniquely comprehensive overview of the theory and practice involved in designing policies on the international aspects of fiscal regimes for these industries, with a particular focus on developing and emerging economies.

International Taxation and the Extractive Industries addresses key topics that are not frequently covered in the literature, such as the geo-political implications of cross-border pipelines and the legal implications of mining contracts and regional financial obligations. The contributors, all of whom are leading researchers with experience of working with governments and companies on these issues, present an authoritative collection of chapters. The volume reviews international tax rules, covering both developments in the G20-OECD project on ’Base Erosion and Profit Shifting’ and more radical proposals, identifying core challenges in the extractives sector.

This book should become a core resource for both scholars and practitioners. It will also appeal to those interested in international tax issues more widely and those who study environmental economics, macroeconomics and development economics.

Table of Contents

Preface

CHAPTER 1: Introduction and Overview

(Philip Daniel, Michael Keen, Artur Swistak and Victor Thuronyi)

CHAPTER 2: Principles and Practice of International Taxation for the Extractive Industries

(Michael Keen and Peter Mullins)

CHAPTER 3: An Overview of Transfer Pricing In Extractive Industries

(Stephen E. Shay)

CHAPTER 4: Transfer Pricing – Special Extractive Industry Issues

(Jack Calder)

CHAPTER 5: International Tax and Treaty Strategy in Resource–Rich Developing Countries: Experience and Approaches

(Philip Daniel and Victor Thuronyi)

CHAPTER 6: Extractive Investments and Tax Treaties: Issues for Investors

(Janine Juggins)

CHAPTER 7: Taxing Gains on Transfer of Interest

(Lee Burns, Honoré Le Leuch and Emil M. Sunley)

CHAPTER 8: Fiscal Issues for Cross-border Natural Resource Projects

(Joseph C. Bell and Jasmina B. Chauvin)

CHAPTER 9: International Oil and Gas Pipelines: Legal, Tax, and Tariff Issues

(Honoré Le Leuch)

CHAPTER 10: The Design of Joint Development Zones Treaties and International Unitization Agreements

(Peter Cameron)

CHAPTER 11: Fiscal Schemes for Joint Development of Petroleum: A Primer and an Evaluation

(Philip Daniel, Chandara Veung and Alistair Watson)

CHAPTER 12: Taxes, Royalties and Cross-border Resource Investments

(Jack Mintz)

CHAPTER 13: Tax Competition and Coordination in Extractive Industries

(Mario Mansour and Artur Swistak)

Since it was first published in 1964, Elements of Shipping has become established as a market leader. Now in its ninth edition, Branch’s Elements of Shipping, renamed in memory of Alan Branch, has been updated throughout and revised to take in the many changes that have occurred in the shipping industry in recent years, including the impact of the economic crisis, the Panama Canal expansion and new legislation. All tables and data have been brought up-to-date and many new illustrations have been added.

The book explains in a lucid, professional manner the basic elements of shipping, including operational, commercial, legal, economic, technical, managerial, logistical and financial considerations. It also explores how shipping markets behave and provides an overview of the international shipping industry and seaports. Filling a gap for the discerning reader who wishes to have a complete understanding of all the elements of the global shipping scene together with the interface with seaports, international trade and logistics, it remains essential reading for shipping executives along with students and academics with an interest in the shipping industry.

Table of Contents

1 Introduction 2 The ship 3 Ship design and construction 4 Ships, their cargoes, trades and future trends 5 Manning of vessels 6 Customs house and ship’s papers 7 Maritime canals and inland waterways 8 Services performed by principal shipping organizations 9 Passenger fares and freight rates 10 Liner conferences 11 Ship operation 12 Bills of lading 13 Cargoes 14 The shipping company 15 Charter parties 16 Containerization 17 Seaports 18 Multi-modalism: global supply chain management and international logistics 19 The international consignment 20 Information technology and electronic data interchange 21 Ship management 22 Political aspects

The Economics of Health and Health Care is the market-leading health economics textbook, providing comprehensive coverage of all the key topics, and balancing economic theory, empirical evidence, and public policy.

The ninth edition offers updated material throughout, including two new chapters: Disparities in Health and Health Care (Chapter 7) examines issues of race, ethnicity, income, gender, and geography with respect to health care access, health inputs, and health outcomes; Pandemic Economics (Chapter 9) introduces a new and simplified economic treatment of epidemics and pandemics within the context of COVID-19. We also include applications from the growing literature on digital medicine. The book further highlights the impacts of the Affordable Care Act (ACA) and updates its path-breaking comparative analyses across countries to focus on the differences in access and costs.

The book continues to provide a clear, step-by-step understanding of health economics, making economic principles accessible to students, supported by boxed examples, figures and tables. Each chapter contains concise summaries, discussion questions, and quantitative exercises to promote student learning. There is also a glossary of key terms and an extensive reference list. Instructors are supported by a range of digital supplements. It is the perfect textbook for students and practitioners taking undergraduate and postgraduate courses in health economics, health policy, and public health.

Table of Contents

Part I: Basic Economic Tools 1. Introduction 2. Microeconomic Tools for Health Economics 3. Statistical Tools for Health Economics Part II: Population Health 4. Production of Health 5. Demand for Health Capital 6. Economic Efficiency and Cost-Benefit Analysis 7. Disparities in Health and Health Care 8. The Health Economics of Bads 9. Pandemic Economics Part III: Supply and Demand 10. The Production, Cost, and Technology of Health Care 11. Consumer Choice and Demand Part IV: Information and Insurance Markets 12. Asymmetric Information and Agency 13. Demand and Supply of Health Insurance 14. The Organization of Health Insurance Markets 15. Managed Care Part V: Key Players in the Health Care Sector 16. Hospitals and Long-Term Care 17. The Physician’s Practice 18. Health Care Labor Markets and Professional Training 19. The Pharmaceutical Industry Part VI: Social Insurance 20. Equity, Efficiency, and Need 21. Government Intervention in Health Care Markets 22. Social Insurance 23. Comparative Health Care Systems 24. Health System Reform

Macroeconomics in Context lays out the principles of macroeconomics in a manner that is thorough, up to date, and relevant to students. Like its counterpart, Microeconomics in Context, the book is uniquely attuned to economic, social, and environmental realities. The “In Context” books offer engaging coverage of current topics including policy responses to recession and inflation, inequality, deficits and government debt, economic impacts of the COVID-19 pandemic, and the economics of environmental sustainability.

This fourth edition includes:

Improved and concise discussions of introductory topics, especially on key economic activities, macroeconomic goals, and economic models

Further emphasis on inequality, environmental sustainability, financialization, the changing nature of work, and international developments such as the role of transnational corporations and supply chain issues

Discussion of the impacts of the COVID-19 pandemic on macroeconomic factors like well-being, inequality, and labor markets

Presentation of policy issues in historical, environmental, institutional, social, political, and ethical contexts, including an updated discussion of fiscal policy in relation to the Biden administration’s infrastructure and social investment spending

Clear explanations of basic economic concepts alongside more in-depth analysis of macroeconomics models and economic activity

This book combines real-world relevance with a thorough grounding in multiple economic paradigms. It is the ideal textbook for modern introductory courses in macroeconomics.

The book’s companion website is available at: http://www.bu.edu/eci/macro

Table of Contents

Part I The Context for Economic Analysis 0. Macroeconomics and Well-Being 1. Economic Activity in Context 2. Foundations of Economic Analysis 3. Supply and Demand PART II Macroeconomic Basics 4. Macroeconomic Measurement: The Current Approach 5. Macroeconomic Measurement: Environmental and Social Dimensions 6. The Structure of the United States Economy 7. Employment, Unemployment, and Wages PART III Macroeconomic Theory and Policy 8. Aggregate Demand and Economic Fluctuations 9. Fiscal Policy 10. Money, Banking, and Finance 11. The Federal Reserve and Monetary Policy 12. Aggregate Supply, Aggregate Demand, and Inflation: Putting It All Together 13. The Global Economy and Policy PART IV: Macroeconomic Issues and Applications 14. Inequality: Economic and Social Perspectives 15. Deficits and Debt 16. How Economies Grow and Develop 17. Growth and Sustainability in the Twenty-First Century

Corporate Finance: The Basics is a concise introduction to the inner workings of finance at the company level. It aims to take the fear out of corporate finance and add the fun in, presenting the subject in a way that is simple to grasp and easy to digest. Its aim is to explain – and demystify – the essential ideas of corporate finance, avoiding the heavy use of maths and formulae. The calculations and figures in the book are purely to illustrate fundamental concepts, appealing to readers’ common sense, rather than stretching their ability to do "number-crunching".

This fully revised edition takes into account the most recent developments in the corporate financial landscape, including: the longer-term ramifications of the 2008 financial crisis, the impact of the Covid-19 pandemic, rising inflation and the current economic climate, and the effect of environmental, social and governance (ESG) on a company’s financial decisions. A brand-new chapter which seeks to answer the question of how to manage growing businesses from a finance perspective is also included.

Through the use of a subject map, this book explains how the key components of the subject are connected with each other, strengthening the reader’s understanding. This book is the ideal introduction for anyone looking for a short yet scholarly overview of corporate finance.

Table of Contents

Introduction 1. Financial Statements 2. Financial Decisions and Investment Criteria 3. Free Cash Flows 4. Net Working Capital Management 5. Debt 6. Equity 7. Mergers and Acquisitions (I) 8. Mergers and Acquisitions (II) 9. Corporate Finance for Growing Businesses 10. Corporate Finance: The Big Picture

For 5000 years shipping has served the world economy and today it provides a sophisticated transport service to every part of the globe. Yet despite its economic complexity, shipping retains much of the competitive cut and thrust of the "perfect" market of classical economics. This blend of sophisticated logistics and larger than life entrepreneurs makes it a unique case study of classical economics in a modern setting.

The enlarged and substantially rewritten Maritime Economics uses historical and theoretical analysis as the framework for a practical explanation of how shipping works today. Whilst retaining the structure of the second edition, its scope is widened to include: lessons from 5000 years of commercial shipping history shipping cycles back to 1741, with a year by year commentary updated chapters on markets; shipping costs; accounts; ship finance and a new chapter on the return on capital new chapters on the geography of sea trade; trade theory and specialised cargoes updated chapters on the merchant fleet shipbuilding, recycling and the regulatory regime a much revised chapter on the challenges and pitfalls of forecasting. With over 800 pages, 200 illustrations, maps, technical drawings and tables Maritime Economics is the shipping industry's most comprehensive text and reference source, whilst remaining as one reviewer put it "a very readable book".

Martin Stopford has enjoyed a distinguished career in the shipping industry as Director of Business Development with British Shipbuilders, Global Shipping Economist with the Chase Manhattan Bank N.A., Chief Executive of Lloyds Maritime Information Services; Managing Director of Clarkson Research Services and an executive Director of Clarksons PLC. He lectures regularly at Cambridge Academy of Transport and is a Visiting Professor at Cass Business School, Dalian Maritime University and Copenhagen Business School.

Principles of Agricultural Economics, now in its fourth edition, continues to showcase the power of economic principles to explain and predict issues and current events in the food, agricultural, and agribusiness sectors. This key text introduces economic principles in a succinct and reader-friendly format, providing students and instructors with a clear, up-to-date, and straightforward approach to learning how a market-based economy functions and how to use simple economic principles for improved decision-making.

The field of agricultural economics has expanded to include a wide range of topics and approaches, including macroeconomics, international trade, agribusiness, environmental economics, natural resources, and international development, and these are all introduced in this text. For this edition, new and enhanced material on agricultural policies, globalization, welfare analysis, and explanations of the role of government in agriculture and agribusiness is included. Readers will also benefit from an expanded range of case studies and text boxes, including real-world examples such as the Ukraine conflict, the Coronavirus pandemic, and immigration.

The work is supported by a companion website, including flash cards, study guides, PowerPoint presentations, multiple choice questions, essay questions, and an instructor’s manual. This book is ideal for courses on agricultural economics, microeconomics, rural development, and environmental policy.

Table of Contents

1. Introduction to the Economics of Agriculture 2. The Economics of Production 3. The Costs of Production 4. Profit Maximization 5. Optimal Input Selection 6. Optimal Output Selection 7. Consumer Choices 8. Supply 9. Demand 10. Markets 11. Government Policies 12. The Competitive Firm 13. Market Power 14. Agriculture and the Global Economy 15. Economics, Agriculture, and the Environment 16. Farm and Agribusiness Management

This book provides an explanation of key underlying economic principles, allowing the reader to come to a better understanding of the critical factors that structure and guide transport markets. This is done through an examination of the interaction between the behaviour of individual users and providers of transport services and transport authorities actions through the implementation of transport policy. The book also considers on-going reforms in the organisation of all aspects of transport provision. These reforms seek to move transport delivery away from a model of high state intervention towards one that is far more market focused in its approach, thereby significantly increasing individuals’ responsibilities for their own transport actions.

The Economics of Transport covers topics such as;

- The demand and supply of transport services

- Market structures and the underlying economic characteristics of transport markets

- The economics of transport and the environment

- Transport subsidises and regulation

- Transport forecasting and appraisal

With a selection of case studies and exercises, this book will be of use to higher level students. It will also be of interest to professionals in the transport planning, transport modelling and transport economics fields.

Table of Contents

1. Introduction to the economics of transport, 2. Transport and Economic Development, 3. The Market for Transport Services, 4. Elasticity Demand for Transport Services 5. Transport Costs 6. Competition for the Provision of Transport Services, 7. Imperfect Competition in the Provision of Transport Services 8. The Pricing of Transport Activities 9. Transport and the Environment 10. Transport, Organisation, Regulation and Ownership 11. Transport Subsidy 12. The Economics of freight Transport 13. Forecasting the Demand for Transport 14. Transport Appraisal 15. End Thoughts and Reflections

An electronic version of this book is available Open Access at www.tandfebooks.com. It has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 3.0 license.

One of the major challenges of urban development has been reconciling the way cities develop with the mounting evidence of resource depletion and the negative environmental impacts of predominantly urban-based modes of production and consumption. This book aims to re-politicise the relationship between urban development, sustainability and justice, and to explore the tensions emerging under real circumstances, as well as their potential for transformative change.

For some, cities are the root of all that is unsustainable, while for others cities provide unique opportunities for sustainability-oriented innovations that address equity and ecological challenges. This book is rooted in the latter category, but recognises that if cities continue to evolve along current trajectories they will be where the large bulk of the most unsustainable and inequitable human activities are concentrated. By drawing on a range of case studies from both the global South and global North, this book is unique in its aim to develop an integrated social-ecological perspective on the challenge of sustainable urban development. Through the interdisciplinary and original research of a new generation of urban researchers across the global South and North, this book addresses old debates in new ways and raises new questions about sustainable urban development. .

Table of Contents

Trajectories of change in the urban Anthropocene 1. Towards sustainable urban infrastructures for the urban Anthropocene Mark Swilling 2. Sustainable flows between Kolkata and its peri-urban interface: challenges and opportunities Jenia Mukherjee 3. On being a smart about cities: seven considerations for a new urban planning and design Maarten A. Hajer 4. Is big sustainable? Global comparison of city emissions Dominik Reusser, Anna-Lena Winz and Diego Rybski 5.Urban-scale food system governance: an alternative response to the dominant paradigm? Gareth Haysom II. The untamed everyday 6.Lost in translation: social protection and the search for security in Bogotá, Colombia Andrea Lampis 7. Potentials of the urban poor in shaping a sustainable Lagos metropolis Taibat Lawanson 8. Sustainability of what? The struggles of poor Mayan households with young breadwinners towards a better life in the peri-urban area of Merida, Yucatan, Mexico Mauricio Dominguez Aguilar and Jorge Pacheco Castro 9. Local governance, climate risk and everyday vulnerability in Dar es Salaam Chipo Plaxedes Mubaya, Patience Mutopo and Mzime Ndebele-Murisa 10. Accra’s unregulated market-oriented sanitation strategy: problems and opportunity John Harris III. Disrupting hegemonic planning 11. Walking the path to urban sustainability: what is still missing in current urban planning models? Natalie Rosales 12.Are you really listening to me? Planningwith the community in urban revitalization projects Mintesnot Woldeamanuel and Jose Palma 13.Sustainable urban development: a Georgist perspective Franklin Obeng-Odoom 14. Beyond an imaginary of power? Governance, supranational organizations and ‘just’ urbanization Philip Lawton IV. Liberating alternatives 15.Ne

First published in 1978, this book was written at a time when belief was high in Western-guided economic development of the emerging countries. The success of Marshall Plan in war-torn Europe generated a US-led optimism that, with generous inflows of aid and technical assistance, the Third World could be won over in the Cold War. The author’s direct experience as a young academic economist in Cyprus, Malaysia, Uganda and Liberia led him to question this general optimism: the reality on the ground in the developing world did not seem to match Western optimism. Theories and blueprints, made in the West, did not fit the requirements of developing countries.

Higher production and better income distribution were inseparable twin objectives of developing nations. That meant, production of a higher national output must at the same time promote social justice. Investment must create adequate jobs so that new entrants into rapidly expanding labor force could be gainfully employed. Yet, the dominant (Western) theories of development at the time, in particular the Trickle Down Theory of Growth, prescribed "Growth First, Distribution Later" strategy. Similarly, Import Substitution Industrialization theories were emphasized at the expense of export-led growth. Dualistic Growth theories preached urban-biased, anti-rural development.

This book was written as a rebuttal of such faulty theorizing and misguided professional technical assistance and the book’s message is no less valid today than in the 1970’s.

Table of Contents

Part I: Economic Growth Without Social Justice 1. What was Wrong with Post-war Planning in LDCs? 2. Distribution Effects of Growth: the Evidence 3. Absolute Poverty: Measurement and Identification 4. The Unemployment Problems of the LDCs Part II:Some Case Studies of the Influence of Elites on Economic Planning and Policy 5. Malaysia: From Colonial to Bumiputra Elitism 6. Liberia: The Americo-Liberian Elite 7. Revolution or Reform: The Experience of Pakistan, Brazil and Uganda Part III: Egalitarian Planning and Reform in LDCs 8. Towards More Egalitarian Development Planning 9. An Egalitarian Development Policy Based on Manpower Planning 10. Education Planning: Shifting from Elitist to Egalitarian Principles 11. Egalitarian Planning and Rural Development 12. Global Equity: Reforming the International Trade and Aid System 13. Summing up: Egalitarian Planning as a Non-violent Revolution

Complex dynamic system studies have been studied explicitly in the natural sciences, and most only implicitly throughout other fields. Yet much great social theory and philosophy is in fact based in complexity, and important concepts like postmodernism, risk, and collapse all stem from complexity. Six key terms are explored: nonlinearity, feedbacks, thresholds, hierarchies, emergence and self-organization, and dozens of related principles are discussed, with a focus on uncertainty, risk, vulnerability, learning, strategy, resilience, collapse and sustainability. The book surveys the role of these complexity principles in the natural sciences, social theory, transdisciplinary discourse, philosophy, and ethics, and shows how this complexity framework is a valuable lens for approaching the spectre of climate change and life in the Anthropocene.

Table of Contents

Foreward 1. Introduction 2. Elucidating Complexity Theories 3. Complexity in the Natural Sciences 4. Complexity in Social Theory 5. Towards Transdisciplinarity 6. Complexity in Philosophy: Complexification and the Limits to Knowledge 7. Complexity in Ethics 8. Earth in the Anthropocene 9. Complexity and Climate Change 10. American Dreams, Ecological Nightmares and New Visions 11. Complexity and Sustainability: Wicked Problems, Gordian Knots and Synergistic Solutions 12. Conclusion

Modern Labor Economics: Theory and Public Policy, now in its fourteenth edition, continues to be the leading text for one-semester courses in labor economics at the undergraduate and graduate levels.

It offers a thorough overview of the modern theory of labor market behaviour and reveals how this theory is used to analyze public policy. Designed for students who may not have extensive backgrounds in economics, the text balances theoretical coverage with examples of practical applications that allow students to see concepts in action.

The authors believe that showing students the social implications of the concepts discussed in the course will enhance their motivation to learn. As such, this text presents numerous examples of policy decisions that have been affected by the ever-shifting labor market.

This new edition continues to offer:

a balance of relevant, contemporary examples;

coverage of the current economic climate;

introduction to basic methodological techniques and problems;

tools for review and further study.

This fourteenth edition presents updated data throughout and a wealth of new examples, such as the impact of COVID-19 lockdowns, gig work, nudges, monopsony power in the technology industry, and the effect of machine learning on inequality.

Supplementary materials for students and instructors are available on the book’s companion website.

Table of Contents

1. Introduction

2. Overview of the Labor Market

3. The Demand for Labor

4. Labor Demand Elasticities

5. Frictions in the Labor Market

6. Supply of Labor to the Economy: The Decision to Work

7. Labor Supply: Household Production, the Family, and the Life Cycle

8. Compensating Wage Differentials and Labor Markets

9. Investments in Human Capital: Education and Training

10. Worker Mobility: Migration, Immigration, and Turnover

11. Pay and Productivity: Wage Determination within the Firm

12. Gender, Race, and Ethnicity in the Labor Market

13. Unions and the Labor Market

14. Unemployment

15. Inequality in Earnings

16. The Labor-Market Effects of International Trade and Production Sharing

1. Introduction

2. Overview of the Labor Market

3. The Demand for Labor

4. Labor Demand Elasticities

5. Frictions in the Labor Market

6. Supply of Labor to the Economy: The Decision to Work

7. Labor Supply: Household Production, the Family, and the Life Cycle

8. Compensating Wage Differentials and Labor Markets

9. Investments in Human Capital: Education and Training

10. Worker Mobility: Migration, Immigration, and Turnover

11. Pay and Productivity: Wage Determination within the Firm

12. Gender, Race, and Ethnicity in the Labor Market

13. Unions and the Labor Market

14. Unemployment

15. Inequality in Earnings

16. The Labor-Market Effects of International Trade and Production Sharing

Now in its seventh edition, Ingrid Rima's classic textbook charts the development of the discipline from the classical age of Plato and Aristotle, through the middle ages to the first flowering of economics as a distinct discipline - the age of Petty, Quesnay and Smith - to the era of classical economics and the marginalist revolution.

The book then goes on to offer extensive coverage of the twentieth century - the rise of Keynesianism, econometrics, the Chicago School and the neoclassical paradigm. The concluding chapters analyze the birth of late twentieth century developments such as game theory, experimental economics and competing schools of economic thought.

This text includes a number of practical features:

a "family tree" at the beginning of each section, illustrating how the different developments within economics are interlinked

the inclusion of readings from the original key texts

a summary and questions to discuss, along with glossaries and suggestions for further reading

This book provides the clearest, most readable guide to economic thought that exists and encourages students to examine the relevance of the discipline's history to contemporary theory.

Table of Contents

Part 1: Preclassical Economics, 1. Early Masterworks as a source of Economic Thought, 2. The Origins of Analytic Economics 3. The Transition to Classical Economics, Part II: Classical Economics, 4. Physiocracy: The Beginning of Analytical Economics, 5. Adam Smith: From Moral Philosophy to Political Economy, 6. Thomas Malthus and J. B. Say: The Political Economy of Population Behaviour and Aggregate Demand, 7. David Ricardo: Economic Analysis of the Distributive Shares, 8. Building on Ricardian Foundations: The Mills, W. N. Senior and Charles Babbage, 9. Classical Theory in Review, Part III: The Critics of Classicism. 10. Socialism, Induction, and the Forerunners of Marginalism, 11. Karl Marx: An Inquiry into the "Law of Motion" of the Capitalist System, 12. First-Generation Marginalists: Jevons, Walras and Menger, 13. Second-Generation Marginalists, Part IV: The Neo-classical Tradition, 1980-1945, 14. Alfred Marshall and the Neo-classical Tradition, 15. Chamberlain, Robinson and Other Price Theorists, 16. The "New" Theory of Welfare and Consumer Behavior, 17. Neo-classical Monetary and business-Cycle Theorists, Part V: The Dissent form Neo-classicism, 1890-1945, 18.The Dissent of American Institutionalists, 19. The Economics of Planning: Socialism without Marxism, 20. J. M. Keynes’s Critique of the Mainstream Tradition, 21. Keynes's Theory of Employment, Output and Income, Part VI: Beyond High Theory, 22. The Emergence of Econometrics as a Sister-Discipline of Economics, 23. Neo-Keynesians, Neo-Walrasians and Monetarists, 24. The Analytics of Economic Liberalism: The Theory of Choice, Part VII: Competing Economic Paradigms, 25. From Economic Heterodoxy to Pluralism and the Revival of Political Economy

Trade impacts on the lives of all global citizens, influencing the range of commodities available for consumption and where those commodities are produced. Driven increasingly by market exchange, trade shapes the nature of work and how the costs and benefits of that work are distributed around the world. Economic growth and development are closely associated with the flows of goods and services between countries. International Trade: The Basics offers an accessible and engaging introduction to contemporary debates on international trade, inviting readers to explore the connections between national political economies within a globally integrated world.

Topics covered include:

Why nations trade

Globalization and transnational production networks

Transnational governance

The emergence of Asia as a major trade region

Ethical trade and environmental sustainability

Trade in solar energy, services and ideas.

Featuring case studies and social media links that help to illustrate key concepts, this book is an essential read for anyone seeking to understand how trade varies between regions, affects relationships between countries and influences a country’s social, political and economic life.

Table of Contents

List of figures

List of tables

List of boxes

1 Introduction

The growth of trade

History of trade

Globalization and contemporary trade patterns

Objective of the book

Outline of the book

2 Trade theory

Comparative advantage

The Heckscher–Ohlin model

The Stolper–Samuelson theorem

Leontieff’s Paradox

Terms of trade

New trade theory: economies of scale and imperfect competition in trade models

New, new trade theory: global outsourcing

3 Transnational corporations, trade and the global economy

Origins of TNCs and why firms internationalize

The growth of transnational corporations

Global production networks and commodity value chains

Capturing value in global production networks

TNCs and trade

4 Trade governance

Institutional theories

GATT and WTO

Geography of trade: integration and regional trade agreements

Is geography destiny? Regionalism and regional economic integration

5 Trade and development

Dynamic comparative advantage

Unequal exchange

Import-substitution and export promotion

Asian flying geese

6 Impact of trade

Special economic zones

Impact on labor

Trade and labor standards

Trade, jobs and wages

Ethical trade

Environment and sustainability

Environmental policy and trade agreements

7 Conclusion

Trends and directions

Glossary

Bibliography

Index

Economics of Agricultural Development examines the causes, severity, and effects of poverty, population growth, and malnutrition in developing countries. It discusses potential solutions to these problems, progress made in many countries in recent years, and the implications of globalization for agriculture, poverty, and the environment.

Topics covered in the book include:

Means for utilizing agricultural surpluses to further overall economic development

The sustainability of the natural resource environment

Gender issues in relation to agriculture and resource use

The contribution of improved technologies to agricultural development

The importance of agricultural policies and institutions to development and trade

Actions to encourage more rapid agricultural and economic development

This new edition reflects the following developments:

Growth in environmental challenges due to climate change

Continued progress in agricultural and economic development in many low-income

countries while other countries and regions are being left behind

Continued growth in demand for higher-valued farm products

This book is essential reading for undergraduate students seeking to understand the economics of agricultural development and the world food system, including environmental and human consequences, international trade, and capital flows. It contains a wealth of real-world case studies and is accompanied by a website.

Table of Contents

Part 1 Dimensions of World Food and Development Problems; 1. Introduction; 2. Poverty, Hunger, and Health; 3. Economics of Food Demand; 4. Population and Migration; Part 2 Development Theories and the Role of Agriculture; 5. Economic Transformation and Growth; 6. Economic Development Theories and Strategies; Part 3 Agricultural Systems and Resource Use; 7. Agriculture in Traditional Societies; 8. Farming Systems and Their Determinants; 9. Resource Use and Sustainability; 10. Human Resources, Family Structure, and Gender Roles; 11. Theories and Strategies for Agricultural Development; Part 4 Getting Agriculture Moving; 12. Agricultural Research and Technology Transfer; 13. Land and Labor Markets; 14. Inputs, Finance, and Risk; 15. Pricing Policies and Marketing Systems; Part 5 Agricultural Development in an Interdependent World; 16. Agriculture and International Trade; 17. Trade Policies, Negotiations, and Agreements; 18. Macroeconomic Policies and Agricultural Development; 19. Capital Flows, Foreign Assistance, and Food Aid; 20. Lessons and Perspectives

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.

Table of Contents

Part 1: An overview of economic development

1. The Development Imperative

2. Measuring economic growth and development

3. Development in historical perspective

Part 2: Theories of development and underdevelopment

4. Classical political economy and beyond

5. Developmentalist theories of economic development

6. Heterodox theories of economic development

Part 3: The structural transformation

7. The state as a potential agent of transformation: From neoliberalism to embedded autonomy

8. Contemporary perspectives and new strategies for development

9. The initial structural transformation: Initiating the industrialization process

10. Strategy switching and industrial transformation

11. Agriculture and development

12. Population, education, and human capital

13. Technology and development

Part 4: Problems and Issues

14. Transnational corporations and economic development

15. Managing the Foreign Account: Balance of payments issues and beyond

16. International institutional linkages: The International Monetary Fund, the World Bank, and foreign aid

/

South Africa’s struggle in balancing its domestic needs while playing a dynamic developmental role in the African region and global context exposes a complex web of relations shaped by its geostrategic location on the continent, and the world, and the staggering legacies of colonialism and apartheid. As such, understanding the complexities of the global economy and of South Africa's place in it, is of great importance. This book builds upon an existing body of literature which has demonstrated that while the post-apartheid South African state has recast its nation building goals - with advances having been made notably in the area of a stellar post-apartheid constitution, policy directives, and democratic political integration - economic integration and policy implementation presents a projection of captured interests, where big business concerns are entrenched in the post-apartheid state’s apparent neo-liberal turn.

The main focus of the book is to contextualise issues relating to three main trends in global discourses on development, which are significant for South Africa, and indeed, for the study of the political economy of regional development in the country from the prism of South Africa as a global capitalist state. These trends include the impact of globalisation, regionalisation, and the marginalisation of South Africa and indeed the African continent in the global economy, thus unpacking the possible role that South Africa might play in regional development.

This volume will be a valuable resource to academics, researchers and students in the fields of regional studies, economics and political theory as well as policymakers, planners and local economic development practitioners.

Table of Contents

List of figures

List of tables

List of contributors

Extended Foreword

Chapter 1: Neoliberal Regionalism in the Context of Globalization: Expanding Cities and Shrinking Peripheries

Methembe Mdlalose & Andile Biyela

Chapter 2: Regional Development in an Era of Neoliberalism: Reflections on International Thinking and Implications for Policy and Practice in South Africa

Etienne Nel

Chapter 3: The Rise and Fall of Regional Planning and Policy in South Africa

Ernst Drewes & Mariske van Aswegen

Chapter 4: Regional Development in Neoliberal South Africa: A Convoluted Concoction of Economics and Politics

Methembe Mdlalose & Eric Makoni

Chapter 5: From ‘Centre Stage’ to ‘Left Behind’: The Historical Evolution of South Africa’s Former Bantustan Spaces

Christian M. Rogerson & Jayne M. Rogerson

Chapter 6: Entrepreneurial-led Regional Development and the Challenge of ‘Left-behind’ Places in South Africa

Sthembiso Myeni & Aubrey Mpungose

Chapter 7: Assessing the Benefits of the Impact of Big Data and Analytics on Regional Government

Thokozani Nzimakwe

Chapter 8: Spatial Targeting and Economic Development Corridors in South Africa

Andre Brand & Ernst Drewes

Chapter 9: Promoting Place-Based Regional Development through Local Economic Development Agencies and Special Economic Zones in South Africa

Isaac Khambule

Chapter 10: South Africa’s Most Controversial Special Economic Zone in Limpopo Province’s Musina-Makhado

Patrick Bond

Chapter 11: Exploring the Role of Special Economic Zones Models on Regional Integration and Inclusivity: The Case of Maluti A Phofung Special Economic Zone Free State Province South Africa

Chukwuemeka Osuigwe & Trynos Gumbo

Chapter 12: Methodological Advances for Regional Analysis in the Global South: Prospects for South Africa and Beyond

Nene Ernest Khalema, Maximino Gervasio Costumado, Blessings Masuku, and Sibongile Ngcobo

Index

Following the 2007–2009 financial and economic crises, there has been an unprecedented demand among economics students for an alternative approach, which offers a historical, institutional and multidisciplinary treatment of the discipline. Economic development lends itself ideally to meet this demand, yet most undergraduate textbooks do not reflect this.

This book will fill this gap, presenting all the core material needed to teach development economics in a one semester course, while also addressing the need for a new economics and offering flexibility to instructors. Rather than taking the typical approach of organizing by topic, the book uses theories and debates to guide its structure. This will allow students to see different perspectives on key development questions, and therefore to understand more fully the contested nature of many key areas of development economics.

The book can be used as a standalone textbook on development economics, or to accompany a more traditional text.

Table of Contents

Part I: Background

1: Introduction

2: Data and its uses in development economics

3: Commonalities and differences in low and low middle income countries

4: Poverty, inequality and some proposed solutions

Part II: Key approaches to economic development and the middle income trap

5: Classical and radical antecedents of development economics

6: Developmentalists and developmentalism

7: Neo-Marxism, structuralism and dependency theory

8: Neoliberalism and its critics

9: New developmentalism: industrial policy, policy space, and premature deindustrialization debates

10: Is there a middle income trap?

Part III: How key approaches play into some key debates

11: Debates on foreign aid

12: Debates on foreign direct investment

13: Debates on agriculture/sustainable agriculture

14: Debates on technology and addressing environmental problems/green industrial policy

Part IV: Conclusion

15: Catch-up growth: finding a trigger

/

Sub-Saharan Africa is at a turning point. The barriers to economic growth seen in the 1980-2000 era are disappearing and new optimism is spreading. However, difficult goals of eliminating poverty, achieving equity and overcoming environmental threats continue. This much-needed and insightful textbook has been written to help us understand this combination of emerging improvements and significant challenges.

Opening with an analysis of the main theories relating to development in Sub-Saharan Africa, the book explores all the key issues, including:

Human development;

Rapid urbanization;

Structural and gender dimensions;

Sustainable development and environmental issues; and

Africa’s role in the world economy.

The authors use economic tools and concepts throughout, in a way that makes them accessible to students without an economics background. Readers are also aided by a wide range of case studies, on-the-ground examples and statistical information, which provide a detailed analysis of each topic. This text is also accompanied by an e-resource, featuring additional sources for students and instructors.

African Economic Development is a clear and comprehensive textbook suitable for courses on African economic development, development economics, African studies and development studies.

Table of Contents

INTRODUCTION: AFRICA IN CHANGING PERSPECTIVE

Part I: ANALYZING THE AFRICAN EXPERIENCE

Chapter 1: Dimensions of Development: Geography, Ecology, History

Chapter 2: Concepts of African Economic Development: Growth, Structural Change, Poverty and Gender

Chapter 3: Development Theories, Political Economy and Governance

Chapter 4: Economic Institutions and Planning for Development

Part II: HUMAN RESOURCES IN AFRICA

Chapter 5: Demography

Chapter 6: Income Distribution and Human Needs

Chapter 7: Human Development: Education and Health

Chapter 8: Labour and Livelihoods, Formal and Informal

Chapter 9: Urbanization, Migration and Regional Development

Part III: SUSTAINING AFRICAN ECONOMIC DEVELOPMENT

Chapter 10: Environment and Climate Change

Chapter 11: Agriculture and Rural Development

Chapter 12: Natural Resources

Chapter 13: The Industrial Sector

Chapter 14: Infrastructure, Communications, Services and Tourism

Chapter 15: Macroeconomic Management, Debt and Structural Adjustment Plans

Part IV: AFRICA AND THE INTERNATIONAL ECONOMY

Chapter 16: Trade and Economic Development

Chapter 17: Multinational Corporations and Foreign Direct Investment in Africa

Chapter 18: Development Assistance: the African Record

Chapter 19: The Changing Role of China in Africa

Chapter 20: International Migration

INDEX OF NAMES

SUBJECT INDEX/

Provides a comprehensive look at local economic development and public policy, placing special emphasis on quality of life and sustainability. It draws extensively on case studies, and includes both mainstream and alternative perspectives in dealing with economic growth and development issues. The contributions of economic theories and empirical research to the policy debates, and the relationship of both to quality of life and sustainability are explored and clarified.

Table of Contents

Lists of Tables, Figures, and Appendixes Preface; Part 1. Defining Economic Development, Quality of Life, and Sustainability; 1 Economic Growth vs. Economic Development; 2 Traditional Economic Development: Incentives for Business; 3 Quality of Life and the Standard of Living; 4 Environmentally Sustainable Development; Part 2. Creating Sustainable Economic Development for States and Localities; 5 Opportunity and Economic Development; 6 Sprawl, Infrastructure, and Sustainable Development; 7 The Effects of Growth on Fiscal Sustainability; 8 Indicators and Plans for Sustainable Economic Development.

In order to fully understand the evolution and future growth of economic systems, we must draw on the lessons of economic history. The 2008 Financial Crisis, for example, mirrored past economic meltdowns with uncanny accuracy. Just like the Great Depression of the 1930s and the Savings and Loan Crisis of the 1980s, it featured deregulated lenders taking incredible risks with other people’s money. Historical analysis is crucial to understanding trends and patterns that can help us predict the future.

This text presents a ground-breaking, pluralistic introduction to economic history and the history of economic thought. Tracing the development of economic systems and economic thought, the text introduces students to the story from ancient times to contemporary capitalism, and also its critics. Focusing in particular on Smith, Marx, Veblen, and Keynes, the text encourages students to consider which ideas and systems are still relevant in the modern world. This book can be used as a standalone text for relevant classes or as a supplement in any principles course.

Table of Contents

PART I: Economics: A pluralistic definition. 1. What is economics? 2. Scarcity, opportunity cost, and choice. PART II: The evolution of economic ideas and systems. 3. The evolution of pre-capitalist economic systems. 4. Adam Smith and the rise of capitalism. 5. Karl Marx and the dark age of capitalism. 6. Thorstein Veblen and monopoly capitalism. 7. Keynes and mixed market capitalism. 8. Modern economic systems.

Joseph Schumpeter (1883–1950) is one of the most fascinating and influential economists of the twentieth century, renowned for his brilliant and unorthodox insights into the nature of capitalism. His students include leading economists such as Paul Samuelson, Robert Solow and the former chairman of the Federal Reserve, Alan Greenspan.

The Theory of Economic Development is one of Schumpeter's most important books and the one that made him famous. He poses a fundamental question: why does economic development proceed cyclically rather than evenly? Turning prevailing economic theory, which approached economics as equilibrium, on its head, Schumpeter argues it is because economics is constantly transformed by its own internal forces. These forces are the 'circular flow' of economic life; economic development, characterised by disruption and innovation; and finally, the levers that push and pull capitalism including credit, profit and interest. These are all manifested in the ‘business cycle’, one of Schumpeter's major contributions to understanding economics and now a perennial feature of virtually all economics and business curricula. He is also the first economist to place the entrepreneur at the heart of capitalism, anticipating subsequent fascination with entrepreneurship in popular business and management writing. Schumpeter also lays the groundwork for his subsequent, highly influential idea of the 'creative destruction' characteristic of radical and rapid economic change.

The Theory of Economic Development remains a vital, magisterial account of economics and the nature of capitalism whose many insights remain highly relevant today.

This Routledge Classics edition includes a new Introduction by Richard Swedberg.

Table of Contents

Introduction to the Routledge Classics Edition Richard Swedberg

1. The Circular Flow of Economic Life as Conditioned by Given Circumstances

2. The Fundamental Phenomenon of Economic Development

3. Credit and Capital

4. Entrepreneurial Profit

5. Interest on Capital

6. The Business Cycle.

Index

The contemporary orthodox view of world trade has centred, generally unchallenged, on the ideas of free trade, based on the theoretical construct of comparative advantage. This book will engage in a critique of the orthodox position based on the underlying theoretical economic construct, the historical development of the now developed economies and the morally unsustainable position of the free-trade regime.

The author examines alternatives such as Most Favoured Nation and Preferential Trading Agreements before making the argument in favour of Asymmetric Trading, where the underdeveloped economies can develop behind tariff barriers and quotas, whilst the triadic nations maintain a lack of barriers to the exports of these economies. He outlines how such a trading regime would be mutually beneficial in the long term, in the sense that development through industrialisation takes place and the increase in GDP per capita would allow markets for exports to be sustainable, thus widening the market for the goods and services of the developed economies. However, the author demonstrates that free trade actually increases the development gap by maintaining the status quo in terms of the underdeveloped economies specialising in and exporting low value-added primary products and importing high value-added manufactures.

The book analyses contemporary and historical data to illustrate how an alternative trading regime can be truly advantageous to both the developed and underdeveloped regions of the world: a global trading regime that is capable of increasing GDP in a sustainable manner without transferring a surplus from the poor to the rich nations and without a long-term commitment on the part of the developed nations to altruism.

Table of Contents

1. Introduction.

2. The Theory of Free Trade.

3. A Critique of the Theories of Free Trade.

4. Historical Arguments Against Free Trade.

5. The Moral Arguments for an Alternative Global Trading Regime.

6. The Inadequacy of Preferential Trading Agreements.

7. Contemporary Protectionism and its Effect on Underdeveloped Economies.

8. The Developmental State and Infant Industry Protection.

9. The Theory of Unequal Exchange.

10. Asymmetric Trade Explained.

11. The Global Benefits of Asymmetric Trading.

12. Conclusions

The Making of Modern Economics presents a bold and engaging history of economics—the dramatic story of how the great economic thinkers built today's rigorous social science.

This comprehensive yet accessible introduction to the major economic philosophers begins with Adam Smith and continues through to the present day. It examines the contributions each one made to our understanding of the role of the economist, the science of economics and economic theory. Boxes in each chapter highlight little-known and entertaining facts about the economists' personal lives that had an influence on their work.

The fourth edition adds coverage of modern monetary theory, the COVID-19 pandemic, climate change, minimum wage debates, Schumpeter and socialism, Malthus and immigration, and more.

The Making of Modern Economics is a valuable, engaging text for courses in the history of economic thought and political economy.

Table of Contents

1. It all started with Adam

2. The French Connection:Laissez Faire Advance!

3. The Irreverent Malthus Challenges the New Model of Prosperity

4. Tricky Ricardo Takes Economics Down a Dangerous Road

5. Milling Around: John Stuart Mill and the Socialists Search for Utopia

6. Marx Madness Plunges Economics into a New Dark Age

7. Out of the Blue Danube: Menger and the Austrians Reverse the Tide

8. Marshalling the Troops: Scientific Economics Comes of Age

9. Go West, Young Man: Americans Solve the Distribution Problem in Economics

10. The Conspicuous Veblen Versus the Protesting Weber: Two Critics Debate the Meaning of Capitalism

11. The Fisher King tried to Catch the Missing Link in Macroeconomics

12. The Missing Mises: Mises (and Wicksell) Make a Major Breakthrough

13. The Keynes Mutiny: Capitalism Faces Its Greatest Challenge

14. Paul Raises the Keynesian Cross: Samuelson and Modern Economics

15. Milton's Paradise: Friedman Leads a Monetary Counterrevolution

16. The Creative Destruction of Socialism: The Dark Vision of Joseph Schumpeter

17. Dr Smith Goes to Washington: Market Economies Face New Challenges

Contemporary Issues in Development Finance provides comprehensive and up-to-date coverage of theoretical and policy issues in development finance from both the domestic and the external finance perspectives and emphasizes addressing the gaps in financial markets.

The chapters cover topical issues such as microfinance, private sector financing, aid, FDI, remittances, sovereign wealth, trade finance, and the sectoral financing of agricultural and infrastructural projects. Readers will acquire both breadth and depth of knowledge in critical and contemporary issues in development finance from a philosophical and yet pragmatic development impact approach. The text ensures this by carefully integrating the relevant theoretical underpinnings, empirical assessments, and practical policy issues into its analysis. The work is designed to be fully accessible to practitioners with only a limited theoretical economic background, allowing them to deeply engage with the book as useful reference material. Readers may find more advanced information and technical details provided in clear, concise boxes throughout the text. Finally, each chapter is fully supported by a set of review questions and by cases and examples from developing countries, particularly those in Africa.

This book is a valuable resource for both development finance researchers and students taking courses in development finance, development economics, international finance, financial development policy, and economic policy management. Practitioners will find the development impact, policy, and conceptual analysis dimensions insightful analysing and designing intervention strategies.

Table of Contents

1. Introduction to contemporary issues in development finance

Joshua Yindenaba Abor, Charles Komla Delali Adjasi, and Robert Lensink

2. Finance, economic growth, and development

Lordina Amoah, Charles Komla Delali Adjasi, Issouf Soumare, Kofi Achampong Osei, Joshua Yindenaba Abor, Ebenezer Bugri Anarfo, Charles Amo-Yartey, and IsaacOtchere

3. Microfinance and development

Niels Hermes and Robert Lensink

4. Private capital flows and economic growth

Elikplimi Komla Agbloyor, Alfred Yawson, and Pieter Opperman

5. Remittances and development

Hanna Fromell, Tobias Grohmann, and Robert Lensink

6. Foreign aid and economic development

Matthew Kofi Ocran, Bernardin Senadza, and EricOsei-Assibey

7. Global financial architecture: emerging issues and agenda for reforms

Joshua Yindenaba Abor, Angela Azumah Alu, David Mathuva, and Joe Nellis

8. Sovereign wealth management

Mbako Mbo and Charles Komla Delali Adjasi

9. Sovereign debt management

Amin Karimu, Vera Fiador, and Imhotep Paul Alagidede

10. Financial inclusion and economic growth

Joshua Yindenaba Abor, Haruna Issahaku, Mohammed Amidu, and Victor Murinde

11. Financing agriculture for inclusive development

Haruna Issahaku, Edward Asiedu, Paul Kwame Nkegbe, and Robert Osei

12. Financing sustainable development: new insights for the present and the future

Gordon Abekah-Nkrumah, PatrickO. Assuming, Patience Aseweh Abor, and Jabir Ibrahim Mohammed

13. International trade, finance, and development

Steven Brakman and Charles van Marrewijk

14. Infrastructure financing and economic development

Saint Kuttu, shenafi Fanta, ichael Graham, and Joshua Yindenaba Abor

15. Finance and economic development: the role of the private sector

Elikplimi Komla Agbloyor, Joshua Yindenaba Abor, Haruna Issahaku, and Charles Komla Delali Adjasi/