Economics Books

Book SynopsisThis series spans the globe presenting leading research in economics. International applications and examples of economic progress are invaluable in a troubled world with economic booms bursting like so many penny balloons. Topics discussed include an assessment of the econometric methods for program evaluation and a proposal to extend the difference-in-differences estimator to dynamic treatment; bank market power and economic volatility; mineral resources governance, the U.K. petroleum fiscal regime; enhancing GDP growth and employment: from unproductive public expenditures towards human capital investment; environmental taxes for efficient waste management; the use of distance-based logistic regression in credit risk; generalisation to the modified GHG intensity universal indicator toward a production/consumption insensitive border carbon tax; experiences contributing to unemployed youth''s work commitment in Hong Kong; why men and women still work in different occupations; and foreign human capital and integration in a city-state.

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Book SynopsisThis anthology presents papers that challenge conventional viewpoints and ideas about business cycles and monetary policy. Some of the selections bring fresh thinking to customary topics, such as business cycle models in perfectly competitive markets, the cyclicality of research and development expenditures, and the effect of uncertainty shocks on consumer spending. Others address concerns that have come to the fore in the aftermath of the global financial crisis -- the consequences of quantitative easing, the effectiveness of macro prudential policies, the impact of shadow banking on the fractional-reserve banking system, and correlations in credit default losses, among others. The collection is not meant to be comprehensive (an impossible and uninteresting goal) but rather to bring together noteworthy contributions that might otherwise be submerged in the torrent of contemporary economic writing. The selection criteria were the quality of thinking, clarity of expression, and soundness of empirical research on topics of compelling interest to people who are actively engaged in the field of monetary economics. The papers included in this book also represent a range of approaches to theoretical and applied research. Some of them describe econometric tools and analytical techniques that are adapted to the study of business cycles and monetary policies. Others set forth conceptual frameworks and conduct empirical analyses that offer new insights into macroeconomic fluctuations. Still others adopt a strategy closer to field work, in the form of case studies supported by extensive statistical documentation. In sum, the papers presented in this volume not only tackle topics of pressing interest; they also illustrate the state of the art in the research methodologies employed by monetary economists.

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Book SynopsisPuerto Rico has access to many federal programs, and is subject to certain federal tax laws; however, for some programs and for some aspects of tax law, Puerto Rico is treated differently than the states. Options for Puerto Rico''s political status include statehood. This book examines potential changes to selected federal programs and related spending changes, and changes to selected federal revenue sources that would be expected should Puerto Rico become a state. This book also discusses economic and fiscal factors under statehood that could influence changes in spending and revenue.

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Book SynopsisPolicymakers at all levels of government are debating a wide range of options for addressing the nation''s faltering economic conditions. One option that is once again receiving attention is accelerated investments in the nation''s public infrastructure - that is, highways, mass transit, airports, water supply and wastewater, and other facilities - in order to create jobs while also promoting long-term economic growth. This book examines policy issues associated with using infrastructure as a mechanism to benefit economic recovery. Discussed are federal traffic safety programs; the reasons why fuel-efficient vehicles are not sold domestically; infrastructure banks and debt finance; highway bridge conditions; emergency relief for disaster damaged roads and transit systems; harbor maintenance finance and funding; characteristics of Puerto Rico''s Maritime trade and potential side effects of modifying the Jones Act.

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Book SynopsisTwo key long-term energy trends are shifting the strategic balance between superpower rivals, the United States and China, in the 21st century: first, the frenetic and successful search for hydrocarbons in Africa is making it an increasingly crucial element in China''s energy diversification strategy; second, a domestic boom in U.S. shale oil and gas is dramatically boosting America''s energy security. America''s increasing energy security and China''s increased dependence on energy imports from Africa and the Middle East until well past 2040 despite its own shale discoveries will make Beijing''s own increasing energy insecurity be felt even more acutely, pushing the People''s Liberation Army to accelerate adoption of a "two ocean" military strategy that includes an enduring presence in the Indian Ocean as well as the Pacific Ocean. This book discusses Africa''s booming oil and natural gas exploration and production. The book also examines China''s oil diplomacy, equity investments in strategic minerals, and food policy toward Africa.

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Book SynopsisThe United States has played an active role in helping to reform financial regulations to address weaknesses revealed by the 2007-2009 financial crisis. According to Treasury officials, during the acute phase of the crisis, the United States proposed elevating the Group of Twenty (G20) forum -- representing 19 countries (including the United States) and the European Union -- from the level of finance ministers and central banks to the level of heads of state or government. This book discusses the U.S. role in the international financial reform efforts; and the implementation status of recent international financial reforms in the United States relative to other countries and challenges that uneven implementation may present. It also analyses why countries coordinate economic policies and the historical origins of the G-20; how the G-20 operates; major highlights from previous G-20 summits, plus an overview of the agenda for the next G-20 summit; and debates about the effectiveness of the G-20 as a forum for economic cooperation and coordination.

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Book SynopsisThe Small Business Administration (SBA) administers programs to support small businesses, including several loan guaranty programs designed to encourage lenders to provide loans to small businesses "that might not otherwise obtain financing on reasonable terms and conditions". The SBA''s 504 Certified Development Company (504/CDC) loan guaranty program is administered through non-profit Certified Development Companies (CDC). It provides long-term fixed rate financing for major fixed assets, such as land, buildings, equipment, and machinery. This book examines the lending standards and performance measures SBA has established to help ensure that loans meet key requirements, as well as 504 loan performance, and SBA''s processes for reviewing CDCs'' eligibility to participate in the program, loan applications, and CDCs'' compliance with program requirements.

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Book SynopsisEffective risk management is considered to be a leading competitive advantage that determines the survival and success of the company in an uncertain global environment. The global financial crisis has focused attention to the proper identification, analysis and management of key corporate risks, as inadequate risk assessment and management have been identified as one of the main causes of a failure or financial difficulties of numerous organizations worldwide. Hence, inadequate risk management has become a problem of broader social interests, resulting in different regulatory actions like Troubled Asset Relief Program, the Federal Reserve guidance, new rules from the Securities and Exchange Commission as well as in recommendations of the OECD and the European Commission on the necessary changes in the existing risk management systems.

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Book SynopsisThe Global Financial crisis that led to the Great Recession resulted in differing levels of economic turmoil across developed industrialised economies, with particularly acute implications for Eurozone countries where it triggered a sovereign debt crisis given their fundamental lack of economic cohesion and appropriate policy tools. This book discusses the foreign direct investment and economic growth in OECD countries. It also discusses the economic growth and self-consumption in oil producing countries; the drivers of economic growth in Latin America; financial education and economic growth; regional development strategy, market segmentation and economic growth; religion, work ethic and economic growth in modern Turkey; and being happy in uncertain economic times.

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Book SynopsisOn 1 March 2013, pursuant to the Balanced Budget and Emergency Deficit Control Act of 1985, the President ordered an across-the-board cancellation of budgetary resources, known as sequestration, to achieve $85.3 billion in reductions across federal government accounts. Under current law, a sequestration of direct spending will occur through fiscal year 2024 and another sequestration of discretionary appropriations could occur in any fiscal year through 2021. This book examines the effects of fiscal year 2013 sequestration on agency operations, performance, or services to the public; how agencies prepared and planned for sequestration; and how agencies implemented sequestration.

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Book SynopsisCongress has maintained interest in El Salvador, a small Central American country that has a large percentage of its population living in the United States, since the country''s civil conflict. Whereas in the 1980s the U.S. government spent billions of dollars supporting the Salvadoran government''s efforts against the Farabundo Marti National Liberation Front (FMLN) insurgency, the United States is now working with the country''s second consecutive democratically-elected FMLN Administration. Despite the potential challenges involved for both sides, analysts predict that U.S.-Salvadoran relations will remain constructive during Salvador Sánchez Cerén''s presidency, as they did during Mauricio Funes'' term. El Salvador is facing significant economic and security challenges that the country is unlikely to be able to address without substantial external support. This book discusses the issues and the U.S. relations with El Salvador. It also examines its current conditions.

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Book SynopsisWith $812 billion in benefit outlays in 2013, Social Security is the largest program in the federal budget. It provides monthly cash benefits to retired and disabled workers and their family members as well as to the family members of deceased workers. Currently, there are about 58 million beneficiaries. Under current law, Social Security''s revenues are projected to be insufficient to pay full scheduled benefits after 2033. Monthly benefit amounts are determined by federal law. Social Security is an issue of ongoing interest both because of its role in supporting a large portion of the population and because of its long-term financial imbalance, and policy makers have considered numerous proposals to change its benefit computation rules. This book discusses the calculation of social security benefits, as well as the taxation, offsets and the special minimum benefits.

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Book SynopsisThis book is the first treatise on consumer theory in a dynamic framework. It expands the conventional static consumer theory into a stochastic dynamic framework accommodating various combinations of uncertainties in future income, life-span and future preferences. These extensions incorporate realistic and intrinsic characteristics of the consumer decision into the analysis of consumer theory. Novel innovations to the field of consumer theory presented in the book include wealth-dependent ordinary demand, inter-temporal indirect utility function, wealth compensated demand, wealth expenditure function and inter-temporal Roy''s identity under uncertainty. A prominent highlight of the book is the derivation of a series of stochastic dynamic Slutsky equations. New optimal consumption paradigms presented include: (i) utility maximisation in a dynamic framework, duality and wealth compensated demand, and dynamic Slutsky equations, (ii) dynamic consumption under random horizon and income, (iii) consumption amid uncertainties in income, life span and preferences, and (iv) stochastic future prices and consumption decision. The mathematical foundation of the book provides a fertile ground for the analysis of dynamic consumption under stochastic dynamic environments. The book paves the way for a new phase in optimal consumption analysis and will be of interest to economics and mathematics students, economists, mathematicians and researchers in consumer behaviour.

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Book SynopsisBaby boomers, who were born between 1946 and 1964, are entering their retirement years. Since rates of self-employment rise with age, a disproportionate share of the self-employed is composed of middle aged or older workers. Some of these workers have been self-employed for much or all of their working lives while others have transitioned to self-employment later in their careers, often as a way of moving into retirement. Future predictions of baby boomers as a key catalyst for small business growth in the next decade and beyond have tended to neglect an important trend. The self-employment rate among those nearing retirement (defined as individuals aged 55-64) has dropped substantially in the past 20 years. This book addresses questions about this decline, and discusses the self-employment transitions among the older American workers with career jobs.

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Book SynopsisSince the 1980s, Guatemala, the most populous country in Central America with a population just over 14 million, has continued its transition from a centuries-long tradition of mostly autocratic rule toward a representative government. A democratic constitution was adopted in 1985, and a democratically elected government was inaugurated in 1986. A 36-year civil war that ravaged Guatemala ended in 1996. This book provides an overview of Guatemala''s current political and economic conditions, relations with the United States, and several issues likely to figure in future decisions by Congress and the Administration regarding Guatemala. It also discusses the U.S. relations with Honduras, and El Salvador.

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Book SynopsisDespite conflict on its borders, the Hashemite Kingdom of Jordan appears to remain a relatively stable and reliable partner for the United States in the Arab world. Jordan''s strategic importance to the United States may be increasing given the ongoing civil war in Syria, fighting in western and central Iraq, uncertainty over the trajectory of Palestinian and Egyptian politics, and ongoing global counter-terrorism operations. In each of these arenas, U.S.-Jordanian military, intelligence, and diplomatic co-operation seeks to empower political moderates, reduce sectarian conflict, and eliminate terrorist threats. This book provides an overview of Jordanian politics and current issues in U.S.-Jordanian relations. It provides a brief discussion of Jordan''s government and economy and of its co-operation with U.S. policy objectives in the Middle East, including the promotion of Arab-Israeli peace.

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Book SynopsisIn this scientific work on the basis of archival and rich historiographic literature, the dramatic history of Georgian and Russian relationships is shown; the tendentious, imperial and pseudoscientific views of the Russian President, Vladimir Putin, are criticised, as well as the opinions of the famous Soviet dissident, A Sakharov, and modern Russian historians. All of them are exposed in falsification of historical documentations and in their irrelevant knowledge and dilettantism. The second part of the collection refers to the historic aspects of Georgian-Russian relationships. In this scientific work, it is substantiated that in 1801 Georgia was conquered by Russia, the autocephaly of Georgia was violently abolished and the Georgian people were dictated by the Russian model of government. Taking into consideration today''s situation, the book will help readers to understand the mechanism of Russian aggression which has been carried out by Russian rulers toward "minor nations" explaining their action as "paternity care".

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Book SynopsisThe U.S. corporate income tax is based on worldwide economic activity. If all of a corporation''s economic activity is in the United States, then tax administration and compliance is, relatively, straight-forward. Many corporations, however, operate in several jurisdictions, which creates complications for tax administration and compliance. Further, corporations may actively choose where and how to organise to reduce their U.S. and worldwide tax liabilities. Some of these strategies have been referred to as expatriation, inversions, and mergers. This book examines them in light of recent expansion of their use and growing congressional interest. This book also focuses on the global issues relating to tax rate differentials between the United States and other countries. It provides tax rate comparisons; discusses policy implications, including the effect of a corporate rate cut on revenue, output, and national welfare; and discusses the outlook for and consequences of a revenue neutral corporate tax reform.

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Book SynopsisShift happens -- Proverb. Every day, every person experiences changes that impact how we live our lives. Some changes we see as helping us, others we see as hindering us. These shifts happen in our home life, our work life, and everywhere in between. Simply put, AdaptAbility is the skill we use to adjust to these new conditions and situations. As we grow and evolve, we realize that building our AdaptAbility will engage, equip, and empower us to live better lives. When shift happens, the challenge (and the choice) to adapt is yours -- will you be ready?

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Book SynopsisThe African Growth and Opportunity Act (AGOA) is a nonreciprocal trade preference program that provides duty-free treatment to U.S. imports of certain products from eligible sub-Saharan African (SSA) countries. Congress first authorized AGOA in 2000 to encourage export-led growth and economic development in SSA and improve U.S. economic relations with the region. This book seeks to inform the discussion on the potential reauthorization of AGOA through analysis of the components of the AGOA legislation; U.S. import trends associated with AGOA; the impact of AGOA on African economies and U.S.-Africa trade; and the issues surrounding the reauthorization process.

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Book SynopsisA model is a simplified representation of a real object or situation that facilitates our understanding and manipulation of the real thing. Models are therefore pervasive, not only in the everyday world, but in academic, industry and government research for the purpose of solving problems and making decisions. The cases addressed in this volume share a common focus in the use of economic and financial modelling techniques, but concern a wide variety of markets, institutions, and instruments. Each of the chapters illustrates well the complexity of modelling and some of the challenges faced when trying to simplify complex real world behaviour and outcomes using models. The contributors to the volume include academic and non-academic researchers with significant financial, mathematical, and statistical modelling experience. This mix ensures that the book has comprehensive coverage of many of the issues involved, is highly accessible to the professional and nonprofessional reader alike, and that it will serve as an authoritative source of information on economic and financial modelling and on the specific topic areas addressed for years to come.

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Book SynopsisRegime change during the Arab Spring allowed Islamist political forces that long had been marginalized to achieve political influence in Tunisia, Egypt, and Libya. This book discusses the rise of political Islam in North Africa, including Tunisia, Egypt, and Morocco.

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Book SynopsisIssuing floating rate notes (FRN) is likely to help the Department of the Treasury (Treasury) meet its goals to borrow at the lowest cost over time, extend the average maturity of the debt portfolio, and increase demand for Treasury securities, but it also presents risks related to changes in interest rates. This book evaluates Treasury''s rationale for introducing FRNs and identifies the demand for Treasury securities from a broad range of investors to assess whether changes would help Treasury meet its goals.

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Book SynopsisThe authors are glad to present this book as a unique overview of the multidisciplinary collaborative research between Japan and North African countries, along the 10-year pathway of the Alliance for Research on North Africa (ARENA) existence at the University of Tsukuba, Japan. Initially, the history of ARENA is briefly described in the first part. Sequentially, four main areas of study are presented: bioresources, water resources, energy resources and human and social development, providing insights of the availability of those resources and related emerging problems, caused by the fast-paced changes in human activities in North Africa during the past decades. Furthermore, the authors included an appendix with profiles for six North African countries, Egypt, Libya, Tunisia, Algeria, Morocco and Mauritania. This book is intended to provide comprehensive information about the biodiversity and natural ecosystems, coupled with a critical point-of-view and future prospective from multidisciplinary contributors, focusing on regional problems and the effective utilization of natural resources, with encouraging suggestions toward working out answers to the question - "Could there be a better future for North African countries?". This valuable source of information may be useful to universities, research institutes, governmental and non-governmental organizations among others, ultimately targeting professionals from academia or industry as well as students at different levels. By the advent of ARENA''s 10th Anniversary, it is our utmost objective to strengthen the collaboration between Japan and North African countries, while endeavoring future challenges such as those related to climate changes, global warming, desertification, and scarcity of natural resources.

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Book SynopsisDigital trade is defined in this book as commerce in products and services delivered via the Internet. Products and services delivered via the Internet make up a growing segment of the U.S. economy. Internet technologies have also transformed how many goods and services in the economy are produced and delivered. Digital sales make up more than half of music industry revenue; the digital shares of sales for games, videos, and books are smaller, but growing quickly. This book provides information on the role of digital trade in the U.S. and global economies, describes notable barriers and impediments to digital trade, and outlines potential approaches for further assessing the role of digital trade in the U.S. economy.

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Book SynopsisAt the request of the U.S. Senate Committee on Finance, the U.S. International Trade Commission undertook an investigation to better understand the role of digital trade--domestic commerce and international trade conducted via the Internet -- in the U.S. and global economies, as well as the effects of barriers and impediments to digital trade that impede U.S. access to global markets. This book shows that digital trade contributes to economic output by improving productivity and reducing trade costs. Digital trade also contributes to the economy as a whole as it facilitates communication, expedites business transactions, improves access to information, and improves market opportunities for small and medium-sized enterprises (SMEs).

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Book SynopsisConservation biology has gradually become one of the mainstream fields in contemporary science. The importance of biodiversity conservation is apparently straightforward to understand: because of global urbanisation, industrialisation and climate change, people become more knowledgeable about the harmony between human beings, society and nature. Biodiversity science is a leading multidisciplinary science in the 21st century. In Asia, there are two BRIC countries: India and China. Both are giant and developing countries. The population sizes of both countries rank in the top two across the nations of the whole world. In comparison with developed countries, biodiversity surveying in most Asian countries seems not so comprehensive. New species are continually discovered and reported across the region, and the mega-biodiversity and original forests throughout the region provide invaluable resources for ecologists to explore biodiversity patterns and test relevant ecological theories. This book thus conveys valuable information for researchers interested in the biodiversity conservation issues of the countries across the Asia-Pacific region. In the book, the author applies contemporary statistical methods and numerical techniques to study the biodiversity and biogeography patterns of different taxonomic groups over the region. These case studies are up-to-date and reflect the latest advances in the field of biodiversity science and conservation in the region.

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Book SynopsisNations democratise at a different pace: Some achieve high governance standards, lasting political stability, and robust economies; others are lingering in their desires to look and act like their democratic counterparts. While no country strictly follows similar patterns of democratic institutionalisation, there is a variable that defines the rate of success of their efforts: their political culture. This book discusses the democratisation in Ukraine, Georgia, and Belarus.

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Book SynopsisIndia is a multi-party, federal, parliamentary democracy with a bicameral parliament. The president, elected by an electoral college, is the chief of state, and the prime minister is the head of the government. Under the constitution the 28 states and seven union territories have a high degree of autonomy and have primary responsibility for problems of law and order. This book discusses India''s relations with the United States, as well as its current conditions and issues.

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Book SynopsisIn 2011, federal spending for prescription drugs by DOD, Medicaid, and Medicare Part D totalled $71.2 billion -- representing about 85 percent of all federal prescription drug expenditures -- for about 114.4 million beneficiaries. Each program reimbursed retail pharmacies for outpatient prescriptions filled at these pharmacies by their beneficiaries. This book compares retail reimbursement prices paid by DOD, Medicaid, and Medicare Part D for a sample of prescription drugs and describes factors affecting these prices. It also discusses approaches to control prescription drug spending in federal programs.

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Book SynopsisSince the Cold War era, when the United States began heavily investing in Turkey''s military and defence operations, the United States and Turkey have enjoyed a fruitful and mutually beneficial relationship. Because of Turkey''s geographic location, political stability, and recent economic success, the country has served as a strategic ally in U.S. foreign policy. This book discusses Turkey''s central role in the Middle East, evolving ties and its relations with the United States.

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Book SynopsisInsights from behavioural economics, which combines findings from psychology and economics, suggest that a deeper understanding of decision-making and behaviour could improve human services program design and outcomes. Research has shown that small changes in the environment can facilitate behaviours and decisions that are in people''s best interest. However, there has been relatively little exploration of the potential application of this science to complex, large-scale human services programs. This book, from the early stages of OPRE''s Behavioural Interventions to Advance Self-Sufficiency (BIAS) project, provides an overview of behavioural economics, presents an approach to applying behavioural economics to social programs, shares insights from three case studies in the BIAS project, and concludes with some early lessons that have emerged from the work and next steps for the BIAS project.

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Book SynopsisHow can federal programs support low-income and low-skilled individuals find and keep employment? Searching for a job is a universal experience for nearly all Americans, but for some low-income and low-skilled individuals, job search may be especially difficult. To support these individuals as they look for employment, many federal programs offer short-term and relatively low-intensity services, known as job search assistance. This book describes an overarching framework for thinking about job search assistance programs, including an overview of service delivery methods, key program components, and the steps that make up the job search process. This book also reviews research related to the relative effectiveness of various job search methods and the components of job search assistance (JSA) programs, including federally-funded programs. The book provides an overview of current JSA programs and the existing literature related to JSA, with a focus on low-income and disadvantaged workers and heads of households.

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Book SynopsisFor over 30 years, Egypt has been a key strategic partner of the United States and the recipient of billions of dollars of U.S. assistance. Starting with its revolution in January 2011, Egypt has undergone a series of political transitions. Shortly after the revolution, the U.S. government allocated $65 million in assistance for a range of activities to support Egypt''s progress toward democracy. However, the Egyptian government objected to the U.S. government providing this assistance directly to NGOs, including to some that it viewed not to be registered under Egyptian law. In June 2013, the Egyptian government convicted employees of four U.S. NGOs. This book examines the extent to which the U.S. government identified and managed potential risks of providing U.S. democracy and governance assistance in Egypt; what support, if any, the U.S. government provided to the NGOs prosecuted by the Egyptian government; and the extent to which U.S. democracy and governance assistance in Egypt has been affected, if at all, by the prosecution of NGO workers.

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Book SynopsisHaiti shares the island of Hispaniola with the Dominican Republic. Since the fall of the Duvalier dictatorship in 1986, Haiti has struggled to overcome its centuries-long legacy of authoritarianism, extreme poverty, and underdevelopment. Economic and social stability improved considerably, and many analysts believed Haiti was turning a corner toward sustainable development when it was set back by a massive earthquake in January 2010 that devastated much of the capital of Port-au-Prince. Although it is recovering, poverty remains massive and deep, and economic disparity is wide: Haiti remains the poorest country in the western hemisphere. This book discusses the conditions and issues in Haiti and the Dominican Republic as well as their relations with the United States.

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Book SynopsisInnovation is a central driver of economic growth in the United States. Workers become more productive when they can make use of improved equipment and processes, and consumers benefit when new goods and services become available or when existing ones become better or cheaper although the transition can be disruptive to established firms and workers as new products and processes supersede old ones. Looking ahead, innovation will continue to be important for economic growth, in part because the supply of workers to the economy is expected to increase at a much slower rate in the future. The federal government influences innovation through two broad channels: spending and tax policies, and the legal and regulatory systems. In this book, the Congressional Budget Office (CBO) examines the effects on innovation of existing policies and systems and the possible effects of a variety of proposals for changing those policies and systems. This book also discusses the current status of the research tax credit; the role of trade secrets in innovation policy; and the patent system for specific industries.

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