Economics Books

Book SynopsisThis book elaborates leading-edge economic, political and social issues about Japan. Japan has the world''s tenth largest population, with about 128 million people. The Greater Tokyo Area, which includes the capital city of Tokyo and several surrounding prefectures, is the largest metropolitan area in the world, with over 30 million residents. A major economic power, Japan has the world''s second largest economy by nominal GDP. It is a member of the United Nations, G8, G4 and APEC, with the world''s fifth largest defence budget. It is also the world''s fourth largest exporter and sixth largest importer and a world leader in technology and machinery.

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Book SynopsisChina''s economic, political and societal issues have become major points of interest to countries all over the globe. This book presents in-depth analyses of such issues such as foreign policy, political reform, and overall economic developments.

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Book SynopsisEmployment and unemployment disparities effect the livelihood of various developing countries. Such issues that will be discussed in this book include the job availability, type, sector of employment and job earnings of these societies. This book provides a comprehensive study of the improvement of poverty, inequality and achievement of employment for socio-economical groups all across the globe.

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Book SynopsisIn recent years, the economic policy of privatisation, which is defined as the transfer of property or responsibility from public sector to private sector, is one of the global phenomenon that increases use of markets to allocate resources. One important motivation for privatisation is to help develop factor and product markets, as well as security markets. Progress in privatisation is correlated with improvements in perceived political and investment risk. Many emerging countries have gradually reduced their political risks during the course of sustained privatisation. In fact, most risk resolution seems to take place as privatisation proceeds to its later stage. Alternative benefits of privatisation are improved risk sharing and increased liquidity and activity of the market. One of the main methods to develop privatisation is entering a new stock to the markets for arising competition. This book provides leading edge research on this field from around the globe.

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Book SynopsisTaiwan''s economic, political and societal issues have become major points of interest to countries all over the globe. There has been an ongoing debate on Taiwan independence within the mainstream of domestic politics on Taiwan; political liberalisation and the increased representation of opposition parties in Taiwan''s legislature have opened public debate on the island''s national identity; a broad popular consensus has developed that the island currently enjoys sovereign independence and - whatever the ultimate outcome regarding reunification or independence - that Taiwan''s people must have the deciding voice; public opinion polls consistently show a substantial majority of Taiwan people supports maintaining Taiwan''s status quo for the foreseeable future; advocates of Taiwan independence oppose the stand that the island will eventually unify with mainland China This book presents in-depth analyses of such issues such as foreign policy, political reform, and overall economic developments.

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Book SynopsisMexico''s economic, political and societal issues have become major points of interest to countries all over the globe. Mexico is the second leading market for U.S. exports after Canada, and is the third most important source of U.S. imports after Canada and China. The United States is Mexico''s most important customer by far, receiving about 80% of Mexico''s exports, including petroleum, automobiles, auto parts, and winter vegetables, and providing about 50% of Mexico''s imports. The United States is the source of over 60% of foreign investment in Mexico, and the primary source of important tourism earnings. Mexico is also the leading country in Latin America in terms of U.S. investment, with the total stock of U.S. investment being about $85 billion in 2006. This book presents in-depth analyses of such issues such as foreign policy, political reform, and overall economic developments.

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Book SynopsisNet foreign direct investment (FDI) flows into India reached $15.7 billion in India''s 2006-07 fiscal year, more than triple the $4.7 billion recorded during 2005-06, with the largest share of FDI flows from Mauritius, followed by the United States and the United Kingdom. This book examines FDI in India, in the context of the Indian economic and regulatory environment. Presented are FDI trends in India, by country and by industry, using official government data from India, the United States, and international organisations. Additionally, this book discusses specific investment activities of multinational companies in India, representing a wide range of countries and industries. This book consists of public documents which have been located, gathered, combined, reformatted, and enhanced with a subject index, selectively edited and bound to provide easy access.

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Book SynopsisThis series spans the globe presenting leading research in economics. It is perhaps a sign of the times that economic weapons such as sanctions seem to be as powerful as or more so than tanks. International applications and examples of economic progress are invaluable in a troubled world with economic booms bursting like so many penny balloons. Globalization, outstanding and jobless recoveries present economic issues of concern to millions.

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Book SynopsisZimbabwe''s prospects appeared promising in 1980, as it gained independence after a long liberation war. The country exhibited steady economic growth, enabling the new government to provide free education and widespread access to health care. Challenges grew in the 1990s, however. Rising inflation and unemployment bred discontent, as evidenced by regular student and labour protests, and led in 1999 to the formation of the opposition Movement for Democratic Change (MDC). The new party surprised many with its initial success, campaigning against a 2000 referendum that would have legalised the president''s continued rule, made government officials immune from prosecution, and allowed the uncompensated seizure of white-owned land for redistribution to black farmers. The referendum failed, and the MDC won nearly half the seats in the 2000 parliamentary election. The ruling party has since taken numerous, often undemocratic actions to bolster its power, including an aggressive land redistribution policy. President Robert Mugabe''s government is seen as autocratic and repressive by its critics, and its human rights record is poor. The regime suppresses freedom of speech and assembly, and many contend that the government restricts access to food, already scarce, in opposition areas. The MDC, divided over how to respond, split into two factions in 2005, hampering its ability to challenge the ruling party. Mugabe has repeatedly extended his rule and was chosen by his party to stand as its presidential candidate again in the 29 March 2008 elections. A behind-the-scenes power struggle within his party adds to questions regarding the country''s future; former finance minister and ex-ruling party member Simba Makoni will stand against Mugabe, and opposition leader Morgan Tsvangirai, in the presidential race. Zimbabwe''s economic output has decreased 40% since 1998, official inflation rose above 8000% in 2007, and unemployment is estimated at over 80%. A widely criticised urban clean-up program in 2005 resulted in the demolition of thousands of homes and businesses in poor urban areas, seen by the government as a base of MDC support. The adult HIV infection rate of 20% has contributed to a sharp drop in life expectancy, and over a third of the population is expected to require food aid in 2008. Deteriorating conditions in the country have led many to emigrate to neighbouring countries, creating a substantial burden on the region.

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Book SynopsisSince the initiation of economic reforms in 1979, China has become one of the world''s fastest-growing economies. From 1979 to 2007 China''s real gross domestic product (GDP) grew at an average annual rate of 9.8%. Real GDP grew 11.4% in 2007 (the fastest annual growth since 1994). While China is expected to continue to enjoy rapid economic growth in the years ahead and could become the world''s largest economy within a decade or so, it faces a number of challenges, including widespread corruption, an inefficient banking system, over-dependence on exports and fixed investment for growth, pollution, widening income disparities, and growing inflationary pressures. The Chinese government has indicated that it intends, over the coming years, to create a "harmonious society" that would promote more balanced economic growth and address a number of economic and social issues. Trade and foreign investment continues to play a major role in China''s booming economy. From 2004 to 2007, the value of total Chinese merchandise trade nearly doubled. In 2007, China''s exports (at $1,218 billion) exceeded U.S. exports (1,162 billion) for the first time. China''s imports were $956 billion and its trade surplus was $262 billion (a historic high). Well over half of China''s trade is conducted by foreign firms operating in China. The combination of large trade surpluses, foreign direct investment flows, and large-scale purchases of foreign currency have helped make China the world''s largest holder of foreign exchange reserves at $1.5 trillion at the end 2007. China''s economy continues to be a concern to many U.S. policymakers. On the one hand, U.S. consumers, exporters, and investors have greatly benefited from China''s rapid economic and trade growth. On the other hand, the surge in Chinese exports to the United States has put competitive pressures on various U.S. industries. Many U.S. policymakers have argued that China often does not play by the rules when it comes to trade and they have called for greater efforts to pressure China to fully implement its World Trade Organization (WTO) commitments and to change various economic policies deemed harmful to U.S. economic interests, such as its currency policy, its use of subsidies to support state-owned firms, trade and investment barriers to U.S. goods and services, and failure to ensure the safety of its exports to the United States. Concerns have also been raised over China''s rising demand for energy and raw materials, its impact on world prices for such commodities, increased pollution levels, and efforts China has made to invest in energy and raw materials around the world, including countries (such as Iran, North Korea, and Sudan) where the United States has political and human rights concerns. This book provides an overview of China''s economic development, challenges China faces to maintain growth, and the implications of China''s rise as a major economic power for the United States.

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Book SynopsisIncome distribution has always been a central concern of economic theory and economic policy. Classical economists such as Adam Smith, Thomas Malthus and David Ricardo were mainly concerned with factor income distribution, that is, the distribution of income between the main factors of production, land, labour and capital. Modern economists have also addressed this issue, but have been more concerned with the distribution of income across individuals and households. Important theoretical and policy concerns include the relationship between income inequality and economic growth. The article economic inequality discusses the social and policy aspects of income distribution questions. This book presents significant and recent research developments.

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Book SynopsisForeign investment in the United States is a matter of congressional concern. It is believed by some that the United States has an unusually liberal policy which allows foreigners to invest in virtually all American businesses and real estate and that these foreign investments undermine the American economy by making it vulnerable to foreign influence and domination. These critics argue that there is even foreign domination of some key defence-related industries and that the ability of the country to protect itself in a time of national emergency could greatly suffer. These critics further argue that extensive foreign investment in this country drives up prices which Americans have to pay for investments and, even more importantly, for houses and farmland in areas where there is a significant amount of foreign ownership. However, others argue that the United States should welcome foreign investment because the influx of foreign money contributes to the creation of jobs in this country. Some also believe that the United States should be a kind of sanctuary for foreign money because of the political and economic instability which characterises much of the rest of the world. It is also argued that, in this age of globalisation of the world''s economy, United States restrictions on foreign investment will only impair this nation''s economy and cause us to appear isolationist. This book takes a look at some of the major federal statutes which presently restrict investment by foreigners. The book first gives a brief history of foreign investment in the United States. It then reviews constitutional justifications and constitutional limitations which exist concerning federal statutory restrictions on foreign ownership of property. After that follows a discussion of some of the major federal statutes which limit foreign investment in the United States. Some of these statutes will be looked at in detail, but a detailed treatment of such other laws as the tax laws, the antitrust laws, and the immigration laws is beyond the scope of this book.

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Book SynopsisWhether the U.S. economy is slowing or humming, government officials, public policy analysts, and average Americans should know exactly how our government functions from an economic perspective. How does the government raise revenues, spend taxpayer money, and cover deficits? Unfortunately, many Americans do not fully understand key economic terms and basic facts about the fiscal performance of the federal government. This book provides readers with a straightforward discussion of key economic terms and details the fiscal performance of the federal government under the last five presidents. Readers will have a better understanding of gross domestic product (GDP). The national debt, foreign-held debt, the federal budget (including deficits and surpluses), trade deficits, inflation, and unemployment. Government statistics will be cited and illustrated in easy to understand graphs and charts so that readers can track the changes over time, as well as compare and contrast economic performance during the presidential administrations from President Jimmy Carter to President George W. Bush. With the long-term structural deficits that are now in place, and growing financial strains that popular entitlement programs such as social Security and Medicare will put on our economy, it is critical that government officials and policy makers understand the fiscal environment in which we now find ourselves as a country. The implications of policy proposals and decisions made by the federal government today will effect generations of Americans. This book serves as a reference guide or primer for those who want to better understand the economics of the federal government.

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Book SynopsisU.S. food prices never seem to decline. Higher farm commodity prices and energy costs are the leading factors behind higher food prices. Farm commodity prices have surged because (1) demand for corn for ethanol is competing with food and feed for acreage; (2) global food grain and oilseed supplies are low due to poor harvests; (3) the weak dollar has increased U.S. exports; (4) rising incomes in large, rapidly emerging economies have changed eating habits; and (5) input costs have increased. Higher energy costs increase transportation, processing, and retail costs. Although the cost of commodities such as corn or wheat are a small part of the final retail price of most food products, they have risen enough to have an impact on retail prices. Generally, price changes at the farm level have a diminished impact on retail prices, especially for highly processed products. The impact of higher food prices on U.S. households varies according to income. Lower-income households spend a greater portion of their income on food and feel price hikes more acutely than high-income families. Higher food costs impact domestic food assistance efforts in numerous ways depending on whether benefits are indexed, enrolments are limited, or additional funds are made available. Higher food and transportation costs also reduce the impact of U.S. contributions of food aid under current budget constraints.

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Book SynopsisMany observers trace the root cause of recent instability in financial markets to uncertainty surrounding the value of widely held securities that are based on mortgages and mortgage-related assets. Losses on these securities have led to the unexpected and relatively sudden failure of several large financial institutions. Credit markets have nearly frozen at times as financial institutions demanded very high interest rates on traditionally routine short-term lending. While there is limited evidence that financial turmoil has caused widespread damage in the broader economy, it is feared that significant real economic effects may be forthcoming, particularly if credit markets remain frozen. This book highlights The Emergency Economic Stabilization Act (EESA), established as law on October 3rd 2008, in response to these economic fears. The Act The Troubled Assets Relief Program (TARP), created by this Act, is also analysed. Furthermore, the insurance program contained in the enacted version of the EESA is briefly summarised and analysed. This is an edited, excerpted and augmented edition of various government publications.

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Book SynopsisThis book contains a variety of research related to the future of the federal budget. Significant uncertainty surrounds long-term fiscal projections, but under any plausible scenario, the federal budget is on an unsustainable path- that is, federal debt will grow much faster than the economy over the long run. In the absence of significant changes in policy, rising costs for health care and the ageing of the U.S. population will cause federal spending to grow rapidly. If federal revenues as a share of gross domestic product (GDP) remain at their current level, that rise in spending will eventually cause future budget deficits to become unsustainable. To prevent deficits from growing to levels that could impose substantial costs on the economy, this book examines the revenues that must rise as a share of GDP, or the projected spending that must fall -- or some combination of the two which must be achieved. This book consists of public domain documents which have been located, gathered, combined, reformatted, and enhanced with a subject index, selectively edited and bound to provide easy access.

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Book SynopsisA large and relatively unimpeded flow of credit through healthy financial markets is a salient attribute of the U.S. economy and any well functioning modern economy. Banks and other financial institutions channel the economy''s savings toward a variety of current productive uses. By borrowing short-term and lending long-term, these institutions create a flow of credit that passes liquidity from savers to investors, and transforms liquid short-run assets into less liquid long-term assets. But lending in credit markets requires confidence in the borrowers'' ability to repay the debt (principal and interest) in full and on schedule. The current turmoil in U.S. financial markets is the result of a breakdown in that necessary confidence. In an environment of distrust, financial institutions are far less willing and able to lend long-term. This book examines the monetary policy and macro-economic supply factors in U.S. credit markets that contributed to the credit expansion. This book also defines credit default swaps, explains their use by banks for risk management, and discusses the potential for systemic risk. This book consists of public documents which have been located, gathered, combined, reformatted, and enhanced with a subject index, selectively edited and bound to provide easy access.

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Book SynopsisThe Troubled Asset Relief Program ("TARP") represents a massive and unprecedented investment of taxpayer money designed to stabilise the financial industry and promote economic recovery. The long-term success of the program is not assured. Success -- or failure -- will depend on whether the Department of the Treasury has spent, and will spend in the future, that massive investment wisely and efficiently to attain the program''s goals. While it is too early to draw any conclusions on that ultimate issue, this assessment must necessarily begin with an understanding of what the Treasury has done thus far. The goal of this book is to present a ready reference on what TARP is and how it has been used, at least for the first $350 billion authorised as of January 23, 2009. This book consists of public domain documents which have been located, gathered, combined, reformatted, and enhanced with a subject index, selectively edited and bound to provide easy access.

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Book SynopsisPublic administration can be broadly described as the development, implementation and study of branches of government policy. The pursuit of the public good by enhancing civil society, ensuring a well-run, fair and effective public service are some of the goals of the field. Furthermore, government debt (also known as public debt or national debt) is money owed by any level of government, either central government, federal government, municipal government or local government. As the government draws its income from society as a whole, public debt can be seen as an indirect debt of the taxpayers. Conversely, non-governmental organisation (NGO) is a term that has become widely accepted for referring to a legally constituted, non-governmental organisation created by natural or legal persons with no participation or representation of any government. In the cases in which NGOs are funded totally or partially by governments, the NGO maintains its non-governmental status, thereby excluding government representatives from membership in the organisation. This book gathers the latest research from around the globe in the discussion of these fields and related issues.

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Book SynopsisLand and maritime boundary disputes refer to disputes over the division of land or water bodies among two or more independent countries. The boundary disputes may evolve from historical and/or cultural claims, or they may be brought on by competition of resource exploitation. This book presents up-to-date information about the land and maritime boundary disputes of Europe. In each entry the causes of and consequences of the boundary dispute as well as the experiences and lessons of existing conflict-resolution efforts are briefly described. This book proves useful to researchers with a concern of boundary demarcation and of existing boundary disputes, as well as to policymakers seeking measures in order to minimise or reduce the risk of conflicts and wars stemming from territorial disputes.

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Book SynopsisFree trade is a type of trade policy that allows traders to act and transact without interference from government. Thus, the policy permits trading partners mutual gains from trade with goods and services produced according to the theory of comparative advantage. Under a free trade policy, prices are a reflection of true supply and demand, and are the sole determinant of resource allocation. Free trade differs from other forms of trade policy where the allocation of goods and services amongst trading countries are determined by artificial prices that do not reflect the true nature of supply and demand. These artificial prices are the result of protectionist trade policies, whereby governments intervene in the market through price adjustments and supply restrictions. Such government interventions generally increase the cost of goods and services to both consumers and producers. Interventions include subsidies, taxes and tariffs, non-tariff barriers, such as regulatory legislation and quotas, and even inter-government managed trade agreements such as the North American Free Trade Agreement (NAFTA) and Central America Free Trade Agreement (CAFTA) (contrary to their formal titles.) -- any governmental market intervention resulting in artificial prices that do not reflect the principles of supply and demand. This important book gathers the latest research from around the globe in this dynamic field with a focus on: trade relations with China, Brazil, South Korea, Canada, Australia and the Middle East among others.

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Book SynopsisThis book looks at the three broad categories of federal spending; discretionary spending, mandatory spending, and net interest. Mandatory spending includes federal government spending on entitlement programs and Food Stamps as well as other budget outlays controlled by laws other than appropriation acts. Entitlement programs such as Social Security and Medicare make up the bulk of mandatory spending. Discretionary spending is provided and controlled through appropriations acts. Mandatory spending accounts for over half of total federal spending and almost a ninth of gross domestic product (GDP). Those three programs, therefore, make up over 40% of federal spending. In the long term, projections suggest that if current policies remain unchanged, the U.S. faces a major fiscal imbalance, largely due to rising health care costs and impending Baby Boomer retirements.

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Book SynopsisThe mortgage crisis in the US has resulted in lower housing costs, as well as greater future income uncertainty. This book examines the effects of financial regulation and deregulation on default risk exposure of mortgages and the past housing bubbles. The possible solutions to fix the loopholes in regulations are discussed. In this book, the authors also take the readers through a reasoning process on how economic estimates and geostatistical analyses can support the necessary decision making process started with new national policies on social housing. All the examples aim to demonstrate that only an integrate, multilevel approach, supported by appropriate analysis can succeed in improving policies for increase supply and quality of housing stock. Furthermore, it is well-known that innovations in housing add value to the buyer but increase the cost of production. This book examines several methods to test a buyer''s willingness to pay for new features. Other chapters in this book analyse the effectiveness of the policies in the US and the UK towards the reduction of mortgage fraud in light of the ''credit crunch,'' and discuss possible effects of transportation conditions and inflation policy on long-term economic growth and geography.

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Book SynopsisIn economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time. The term inflation once referred to increases in the money supply (monetary inflation); however, economic debates about the relationship between money supply and price levels have led to its primary use today in describing price inflation. Inflation can also be described as a decline in the real value of money -- a loss of purchasing power in the medium of exchange which is also the monetary unit of account. When the general price level rises, each unit of currency buys fewer goods and services. A chief measure of general price-level inflation is the general inflation rate, which is the percentage change in a general price index, normally the Consumer Price Index, over time. Inflation can have adverse effects on an economy. For example, uncertainty about future inflation may discourage investment and savings. High inflation may lead to shortages of goods if consumers begin hoarding out of concern that prices will increase in the future. Economists generally agree that high rates of inflation and hyperinflation are caused by an excessive growth of the money supply. This new important book gathers the latest research from around the globe on this issue.

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Book SynopsisTitanic 2010 is around the corner: Is Eastern Europe really catching up with the West, and is the enlarged and transformed Europe really on its way to become, by 1010, the most competitive region in the world economy? Starting from the seven "cardinal sins" of the transformation process, described by Harvard Professor Janos Kornai. it is evident that the real income of a significant proportion of the population has remained unchanged, or even deteriorated in Eastern Europe, that a dramatic ''restructuring'' has taken place in the area of income distribution, that the employment rate has significantly declined, public security deteriorating, corruption has not ended, and that there are disorders in the political arena with tax policies favouring the rich. Dissatisfaction with the "Lisbon process" of the European Union, Initiated at the European Council meeting in Liston, March, 2000, to make Europe the most competitive economy of the world by 2010, is widespread also in Western Europe, relevant optimistic recent voices from the Commission notwithstanding. So instead of achieving unity and harmony, Europe is drifting towards "transnational integration and national disintegration" (Osvaldo Sunkel). Schumpeter and later world system and dependency writers were always of the crises, cyclical imbalances, regional shifts, and of the rise and decline of entire regions and even continents in the process of capitalist development. At the end of the day. a realistic and politically useful analysis of the "Lisbon process" has to be "Schumpeterian" in its question writing.

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Book SynopsisThis series spans the globe gathering the latest research on the economics of our time. It is perhaps a sign of the times that economic weapons such as sanctions seem to be as powerful as or more so than tanks. International applications and examples of economic progress are invaluable in a troubled world with economic booms bursting like so many penny balloons. Globalisation, outstanding and jobless recoveries present economic issues of concern to millions.

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Book SynopsisThe recent credit crunch of 2008 ignited in 2009 one of the most severe economic slowdowns since World War II. In many countries, such as the United States and the United Kingdom, the intensity of the recession is such that comparisons are made with the Great Depression of 1929. This book will shed some light on the causes of the recession and its effects on the balance of international powers. Furthermore, many regions of the world, and developed countries in particular, are currently in the midst of significant population ageing caused by falling fertility rates and increased life expectancy. This may cause a world-wide capital shortage in the long run. This book addresses this issue, as well as the extent to which policy reforms play a significant role in the international capital movement and the impact the world-wide short-term fiscal expansion has made on the global economy. Also examined is the impact of some possible options (US fiscal stimulus, monetary easing in the US, and foreign official purchases of US treasury securities) on the economies of the US and the rest of the world, and the US current account deficits by using structural vector autoregression (SVAR) model. This book also examines the depths and necessary measures for countries in the Eurozone, and the monetary union in particular, to control and counteract the global recession. Other chapters discuss the different methods of modelling volatility of stock prices and exchange rates, the correlation between individual investments, investor preferences and the relative size of risk weights and the effects of regulation, and the future of capital asset pricing models (CAPM0), one of the central areas of research in finance.

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