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The quick recovery of Asian economies from the recent global
recession can be partly attributed tothe effect of positive
aggregate-demand externalitiesin their self-employment sectors,
which are overwhelmingly large in these economies. This book
undertakes a behavioural analysis of self-employing producers to
lay a microeconomic foundation for this effect, particularly in
cases where markets are not perfectly competitive, as is the case
during aggregate economic contractions. Where some marketsare not
perfectly competitive, the market prices and rates fail to be
relevant and internal prices and rates are instead formed toaid
theorganization of family firm and consumption choice. The effects
of these externalitiesare explored in this volume; the authors
undertake a detailed analysis of records of labour force surveys,
national incomes and product accounts of selected economies.
The quick recovery of Asian economies from recent recessions in
comparison to the struggling American and European economies can be
attributed in part to the positive aggregate-demand externalities
of their self-employment sectors. This book presents a behavioural
analysis of this effect, with a detailed focus on producer
households.
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