International economics Books

Book SynopsisThis detailed and perceptive book examines the extent and scope of how rules for accession to the WTO may vary between countries, approaching the concerns that some countries enter with a better deal than others. Dylan Geraets critiques these additional ?rules? and aims to answer the question of whether new Members of the WTO are under stricter rules than the original Members, whilst analysing the accession process to the multilateral trading system.Taking an integrated approach, the author combines the results of a Mapping Exercise of all 36 Protocols of accession with a legal analysis of the decisions by the WTO Dispute Settlement Body involving Protocols of Accession. In doing so, this book provides the first comprehensive analysis of the issue of Member-specific ?WTO-Plus? commitments in Protocols of Accession. Whilst addressing the institutional and historical aspects of the WTO accession process, it provides a vital update to the existing scholarship on WTO accession, offering coverage of all accessions including those of Afghanistan, Kazakhstan and Liberia.Accession to the World Trade Organization will be invaluable reading for academics interested in WTO accession practice, as well as lawyers, practitioners and government officials in the field of WTO accession.Trade Review'This is a long overdue analysis: how is one to classify and then interpret the widely different obligations found in the Accession Protocols of new members. Dylan Geraets does an admirable job in navigating these underexposed yet noteworthy new rules in the WTO system. With this book he has made his mark.' --Marco Bronckers, Leiden University, the Netherlands'Close to one in four WTO members acceded to the WTO after its establishment in 1995. What is the legal status of their ''entry fee'' commitments? What WTO-plus and/or -minus rules can be found in the 36 Accession Protocols to date? Is the WTO veering toward a multi-tiered membership? This book is the first in-depth legal analysis of WTO accession rules and jurisprudence. An indispensable guide to understanding the role of ''newcomers'' such as China and Russia in the world trading system.' --Joost Pauwelyn, Georgetown University Law Centre, USTable of ContentsContents: Part I: Accession to the Multilateral Trading System 1. The General Agreement on Tariffs and Trade 1947 (GATT 1947) and the World Trade Organization (WTO) – Why Join the Club? 2. Membership of the GATT 1947 and the WTO 3. The Scope of the Multilateral Trading System Part II: The Status of Protocols of Accession in the legal framework of the WTO 4. The Status of Protocols of Accession in the Legal Framework of the WTO Part III: Mapping Exercise: The Content of Protocols of Accession 5. Mapping Exercise: Methodology and Typology – Commitments on Specific Matters 6. Mapping Exercise: The Results Part IV: Conclusion 7. Concluding Remarks Selected Bibliography Index

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Book SynopsisThis insightful research review discusses some of the most influential papers in the economics field of global value chains. Focusing on globalization, fragmentation and coordination of production across geographical as well as enterprise boundaries. It pays particularly close attention to how businesses in developing countries are incorporated into global production and distribution networks. The review analyses many of the texts that framed the global value chain approach together with in-depth case-studies of particular sectors and policy-oriented research concerned with reducing poverty and accelerating growth in poorer countries. This review would be of great interest to students and researchers working in the fields of globalisation, geography and international business.Table of ContentsContents: Introduction John Humphrey PART I GLOBAL VALUE CHAINS: ORIGINS AND THEORY 1. Gary Gereffi, John Humphrey and Timothy Sturgeon (2005), 'The Governance of Global Value Chains', Review of International Political Economy, 12 (1), February, 78–104 2. Gary Gereffi (1999), 'International Trade and Industrial Upgrading in the Apparel Commodity Chain', Journal of International Economics, 48 (1), 37–70 3. John Humphrey and Hubert Schmitz (2001), 'Governance in Global Value Chains', IDS Bulletin, 32 (3), July, 19–29 4. Timothy J. Sturgeon (2002), 'Modular Production Networks: A New American Model of Industrial Organisation', Industrial and Corporate Change, 11 (3), June, 451–95 5. Jennifer Bair (2005), 'Global Capitalism and Commodity Chains: Looking Back, Going Forward', Competition and Change, 9 (2), June, 153–80 6. Timothy J. Sturgeon (2009), 'From Commodity Chains to Value Chains: Interdisciplinary Theory Building in an Age of Globalisation', in Jennifer Bairs (ed.), Frontiers of Commodity Chain Research, Chapter 6, Stanford CA: Stanford University Press, 110–35, references 7. Peter Gibbon (2008), 'Governance, Entry Barriers, ‘Upgrading: A Re-Interpretation of Some GVC Concepts from the Experience of African Clothing Exports', Competition and Change, 12 (1), March, 29–48 PART II VALUE CHAINS AND DEVELOPMENT 8. Raphael Kaplinsky (2000), 'Globalisation and Unequalisation: What Can Be Learned from Value Chain Analysis?', Journal of Development Studies, 37 (2), December, 117–46 9 Carlo Pietrobelli and Federica Saliola (2008), 'Power Relationships Along the Value Chain: Multinational Firms, Global Buyers and Performance of Local Suppliers', Cambridge Journal of Economics, 32 (6), November, 947–62 10. Raphael Kaplinsky, Mike Morris and Jeff Readman (2002), 'The Globalization of Product Markets and Immiserizing Growth: Lessons from the South African Furniture Industry', World Development, 30 (7), July, 1159–77 11. Mike Morris and Cornelia Staritz (2014), 'Industrialization Trajectories in Madagascar’s Export Apparel Industry: Ownership, Embeddedness, Markets, and Upgrading’, World Development, 56, April, 243–57 12. Raphael Kaplinsky, Anne Terheggen and Julia Tijaja (2011), 'China as a Final Market: The Gabon Timber and Thai Cassava Value Chains', World Development, 39 (7), July, 1177–90 PART III STANDARDS AND SOCIAL DEVELOPMENT 13. Stefano Ponte and Peter Gibbon (2005), 'Quality Standards, Conventions and the Governance of Global Value Chains', Economy and Society, 34 (1), February, 1–31 14. Khalid Nadvi (2008), 'Global Standards, Global Governance and the Organization of Global Value Chains', Journal of Economic Geography, 8 (3), May, 323–43 15. Doris Fuchs, Agni Kalfagianni and Tetty Havinga (2011), 'Actors in Private Food Governance: The Legitimacy of Retail Standards and Multistakeholder Initiatives with Civil Society Participation', Agriculture and Human Values, 28 (3), September, 353–67 16. Stephanie Barrientos (2001), 'Gender, Flexibility and Global Value Chains', IDS Bulletin, 32 (3), July, 83–93 17. Stephanie Barrientos, Catherine Dolan and Anne Tallontire (2003), 'A Gendered Value Chain Approach to Codes of Conduct in African Horticulture', World Development, 31 (9), September, 1511–26 18. Simon Bolwig, Stefano Ponte, Andries du Toit, Lone Riisgaard and Niels Halberg (2010), 'Integrating Poverty and Environmental Concerns into Value-Chain Analysis: A Conceptual Framework', Development Policy Review, 28 (2), March, 173–94 19. Peter Lund-Thomsen and Adam Lindgreen (2014), 'Corporate Social Responsibility in Global Value Chains: Where Are We Now and Where Are We Going?', Journal of Business Ethics, 123 (1), August, 11–22 20. Jennifer Bair and Florence Palpacuer (2015), 'CSR Beyond the Corporation: Contested Governance in Global Value Chains', Global Networks, 15 (Supplement), S1–S19 21. Stephanie Barrientos, Frederick Mayer, John Pickles and Anne Posthuma (2011), 'Decent Work in Global Production Networks: Framing the Policy Debate', International Labour Review, 150 (3–4), December, 299–317 PART IV Upgrading 22. John Humphrey and Hubert Schmitz (2002), 'How Does Insertion in Global Value Chains Affect Upgrading in Industrial Clusters?', Regional Studies, 36 (9), 1017–27 23. Hubert Schmitz (2006), 'Learning and Earning in Global Garment and Footwear Chains', European Journal of Development Research, 18 (4), December, 546–71 24. Elisa Giuliani, Carlo Pietrobelli and Roberta Rabellotti (2005), 'Upgrading in Global Value Chains: Lessons from Latin American Clusters', World Development, 33 (4), April, 549–73 25. Carlo Pietrobelli and Roberta Rabellotti (2011), 'Global Value Chains Meet Innovation Systems: Are There Learning Opportunities for Developing Countries?', World Development, 39 (7), July, 1261–69 26. Lizbeth Navas-Alemán (2011), 'The Impact of Operating in Multiple Value Chains for Upgrading: The Case of the Brazilian Furniture and Footwear Industries', World Development, 39 (8), August, 1386–97 27. Jiří Blažek (2016), 'Towards a Typology of Repositioning Strategies of GVC/GPN Suppliers: The Case of Functional Upgrading and Downgrading', Journal of Economic Geography, 16 (4), July, 849–69 28. Seth Pipkin and Alberto Fuentes (2017), 'Spurred to Upgrade: A Review of Triggers and Consequences of Industrial Upgrading in the Global Value Chain Literature', World Development, 98, October, 536–54 PART V SECTORAL STUDIES 29. Catherine Dolan and John Humphrey (2000), 'Governance and Trade in Fresh Vegetables: The Impact of UK Supermarkets on the African Horticulture Industry', Journal of Development Studies, 37 (2), December 147–76 30. Peter Gibbon (2001), 'Upgrading Primary Production: A Global Value Commodity Chain Approach', World Development, 29 (2), February, 345–63 31. Jacques H. Trienekens (2011), 'Agricultural Value Chains in Developing Countries: A Framework for Analysis', International Food and Agribusiness Management Review, 14 (2), 51–82 32. Jennifer Bair and Gary Gereffi (2001), 'Local Clusters in Global Chains: The Causes and Consequences of Export Dynamism in Torreon's Blue Jeans Industry', World Development, 29 (11), November, 1885–903 33. Timothy Sturgeon, Johannes Van Biesebroeck and Gary Gereffi (2008), 'Value Chains, Networks and Clusters: Reframing the Global Automotive Industry', Journal of Economic Geography, 8 (3), May, 297–321 34. Jason Dedrick, Kenneth L. Kraemer and Greg Linden (2010), 'Who Profits from Innovation in Global Value Chains?: A Study of the iPod and Notebook PCs', Industrial and Corporate Change, 19 (1), February, 81–116 35. Timothy J. Sturgeon and Momoko Kawakami (2011), 'Global Value Chains in the Electronics Industry: Characteristics, Crisis and Upgrading Opportunities for Firms from Developing Countries', International Journal of Technological Learning, Innovation and Development, 4 (1–3), 120–47 PART VI TRADE AND GLOBAL VALUE CHAINS 36. Robert C. Feenstra (1998), 'Integration of Trade and Disintegration of Production in the Global Economy', Journal of Economic Perspectives, 12 (4), Fall, 31–50 37. Andrew B. Bernard, J. Bradford Jensen, Stephen Redding and Peter Schott (2007), 'Firms in International Trade', Journal of Economic Perspectives, 21 (3), Summer, 105–30 38. Marcel P. Timmer, Abdul Azeez Erumban, Bart Los, Robert Stehrer and Gaaitzen J. de Vries (2014), 'Slicing up Global Value Chains', Journal of Economic Perspectives, 28 (2), Spring, 99–118 39. Richard E. Baldwin and Simon J. Evenett (2015), 'Value Creation and Trade in 21st Century Manufacturing', Journal of Regional Science: Special Issue, 55 (1), January, 31–50 Index

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Book SynopsisThe past 30 years are often depicted as an era of globalisation, and even more so with the recent rise of global giants such as Google and Amazon. This updated and revised edition of The Handbook of Globalisation offers novel insights into the rapid changes our world is facing, and how best we can handle them. With multi-disciplinary contributions from leading experts, this Handbook covers a broad spectrum of issues and opportunities surrounding modern globalisation. It explores the idea that globalisation is not new, natural or inevitable, but rather that current global arrangements are the result of corporate pressure and the choices of politicians. It highlights the fact that the deregulated, free market form of globalisation is not unavoidable and explores a new era of global co-operation based around a Green New Deal. It also considers the future of globalisation in the face of the Trump presidency, Brexit and the move towards more state-centred policies. This Handbook continues to be a vital resource for scholars, students and researchers of economics, international relations, and business and management who wish to gain a more in-depth understanding of globalisation from a variety of different disciplines. Politicians and policy makers will also benefit from the advice offered to avoid some of the increasingly negative impacts of our globalising world.Contributors include: P. Arestis, E. Braunstein, P. Brosnan, H.-J. Chang, C. Craypo, G. DeMartino, G. Dymski, G. Epstein, A. Glyn, J. Heintz, C. Hines, P. Hirst, G.M. Hodgson, J. Howells, G. Ietto-Gillies, M. Koenig-Archibugi, S. Lee, P. Lysandrou, J. Michie, J.G. Palma, M. Panic, J. Perraton, J. Plasmans, M. Sawyer, S. Sinclair, A. Singh, J. Stanford, B. Sutcliffe, G. Thompson, J. Toye, F. Wilkinson, R. Woodward, A. ZammitTrade Review'Jonathan Michie and his mainly northern heterodox economists offer us some powerful, refreshing and even disturbing insights into the state of contemporary globalisation. This comes at precisely the moment when the current phase of (neo-liberal) globalisation, arguably the third after late Victorian globalisation and international Keynesianism, shudders and stutters in the wake of the uncertainties and instabilities introduced by the 2008 global financial crisis and the triumph of Trumpism in America.' --Vishnu Padayachee, University of the Witwatersrand, South AfricaTable of ContentsContents: The Handbook of Globalisation: Introduction and Overview Jonathan Michie PART I: GLOBALISATION IN QUESTION? 1. The Future of Globalisation Paul Hirst and Grahame Thompson 2. Financial Globalization? History, Conditions and Prospects Grahame Thompson 3. The Scope and Implications of Globalisation Jonathan Perraton 4. Measures of Globalisation and their Misinterpretation Bob Sutcliffe and Andrew Glyn PART II: ANALYSING THE GLOBAL ECONOMY 5. Innovation and Globalisation: A Systems of Innovation Perspective Jeremy Howells 6. The International Debt Crisis Gary Dymski 7. The multiplicity of distributional outcomes across the world: diversities of fundamentals or countries getting the inequality they deserve? José Gabriel Palma PART III: TRANSNATIONAL CORPORATIONS 8. The Role of Transnational Corporations in the Globalisation Process Grazia Ietto-Gillies 9. The Role and Control of Multinational Corporations in the World Economy Gerald Epstein 10. Foreign Direct Investment and Development from a Gender Perspective Elissa Braunstein PART IV: LABOUR STANDARDS 11. The Minimum Wage in a Global Context Peter Brosnan 12. Globalisation, Labour Standards and Economic Development Ajit Singh and Ann Zammit 13. Global Labor Standards: Their Impact and Implementation James Heintz PART V: EUROPE AND NORTH AMERICA 14. Productivity and Competition from a Global Point of View Joseph Plasmans 15. European Integration and the ‘Euro Project’ Philip Arestis and Malcolm Sawyer 16. North American free trade: history, structure and prospects Jim Stanford 17. The Low Road to Competitive Failure: Immigrant Labour and Emigrant Jobs in the US Charles Craypo and Frank Wilkinson PART VI: GOVERNANCE 18. Governance in a Globalised World Richard Woodward 19. Global Governance Mathias Koenig-Archibugi 20. The Political Economy of the Third Way: The Relationship between Globalisation and National Economic Policy Simon Lee PART VII: INTERNATIONAL ECONOMIC INSTITUTIONS 21. The WTO and its GATS Scott Sinclair 22. The International Monetary Fund and the World Bank John Toye 23. A New ‘Bretton Woods’ System? Mića Panić PART VIII: POLICY IMPLICATIONS AND RESPONSES 24. Kicking Away the Ladder – Globalisation and Economic Development in Historical Perspective Ha-Joon Chang 25. Time to Replace Globalisation with Localisation Colin Hines 26. Free Trade or Social Tariffs? George DeMartino 27. Global Inequality and the Global Financial Crisis: The New Transmission Mechanism Photis Lysandrou 28. The Great Crash of 2008 and the Reform of Economics Geoffrey M. Hodgson Index

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Book SynopsisThe past 30 years are often depicted as an era of globalisation, and even more so with the recent rise of global giants such as Google and Amazon. This updated and revised edition of The Handbook of Globalisation offers novel insights into the rapid changes our world is facing, and how best we can handle them. With multi-disciplinary contributions from leading experts, this Handbook covers a broad spectrum of issues and opportunities surrounding modern globalisation. It explores the idea that globalisation is not new, natural or inevitable, but rather that current global arrangements are the result of corporate pressure and the choices of politicians. It highlights the fact that the deregulated, free market form of globalisation is not unavoidable and explores a new era of global co-operation based around a Green New Deal. It also considers the future of globalisation in the face of the Trump presidency, Brexit and the move towards more state-centred policies. This Handbook continues to be a vital resource for scholars, students and researchers of economics, international relations, and business and management who wish to gain a more in-depth understanding of globalisation from a variety of different disciplines. Politicians and policy makers will also benefit from the advice offered to avoid some of the increasingly negative impacts of our globalising world.Contributors include: P. Arestis, E. Braunstein, P. Brosnan, H.-J. Chang, C. Craypo, G. DeMartino, G. Dymski, G. Epstein, A. Glyn, J. Heintz, C. Hines, P. Hirst, G.M. Hodgson, J. Howells, G. Ietto-Gillies, M. Koenig-Archibugi, S. Lee, P. Lysandrou, J. Michie, J.G. Palma, M. Panic, J. Perraton, J. Plasmans, M. Sawyer, S. Sinclair, A. Singh, J. Stanford, B. Sutcliffe, G. Thompson, J. Toye, F. Wilkinson, R. Woodward, A. ZammitTrade Review'Jonathan Michie and his mainly northern heterodox economists offer us some powerful, refreshing and even disturbing insights into the state of contemporary globalisation. This comes at precisely the moment when the current phase of (neo-liberal) globalisation, arguably the third after late Victorian globalisation and international Keynesianism, shudders and stutters in the wake of the uncertainties and instabilities introduced by the 2008 global financial crisis and the triumph of Trumpism in America.' --Vishnu Padayachee, University of the Witwatersrand, South AfricaTable of ContentsContents: The Handbook of Globalisation: Introduction and Overview Jonathan Michie PART I: GLOBALISATION IN QUESTION? 1. The Future of Globalisation Paul Hirst and Grahame Thompson 2. Financial Globalization? History, Conditions and Prospects Grahame Thompson 3. The Scope and Implications of Globalisation Jonathan Perraton 4. Measures of Globalisation and their Misinterpretation Bob Sutcliffe and Andrew Glyn PART II: ANALYSING THE GLOBAL ECONOMY 5. Innovation and Globalisation: A Systems of Innovation Perspective Jeremy Howells 6. The International Debt Crisis Gary Dymski 7. The multiplicity of distributional outcomes across the world: diversities of fundamentals or countries getting the inequality they deserve? José Gabriel Palma PART III: TRANSNATIONAL CORPORATIONS 8. The Role of Transnational Corporations in the Globalisation Process Grazia Ietto-Gillies 9. The Role and Control of Multinational Corporations in the World Economy Gerald Epstein 10. Foreign Direct Investment and Development from a Gender Perspective Elissa Braunstein PART IV: LABOUR STANDARDS 11. The Minimum Wage in a Global Context Peter Brosnan 12. Globalisation, Labour Standards and Economic Development Ajit Singh and Ann Zammit 13. Global Labor Standards: Their Impact and Implementation James Heintz PART V: EUROPE AND NORTH AMERICA 14. Productivity and Competition from a Global Point of View Joseph Plasmans 15. European Integration and the ‘Euro Project’ Philip Arestis and Malcolm Sawyer 16. North American free trade: history, structure and prospects Jim Stanford 17. The Low Road to Competitive Failure: Immigrant Labour and Emigrant Jobs in the US Charles Craypo and Frank Wilkinson PART VI: GOVERNANCE 18. Governance in a Globalised World Richard Woodward 19. Global Governance Mathias Koenig-Archibugi 20. The Political Economy of the Third Way: The Relationship between Globalisation and National Economic Policy Simon Lee PART VII: INTERNATIONAL ECONOMIC INSTITUTIONS 21. The WTO and its GATS Scott Sinclair 22. The International Monetary Fund and the World Bank John Toye 23. A New ‘Bretton Woods’ System? Mića Panić PART VIII: POLICY IMPLICATIONS AND RESPONSES 24. Kicking Away the Ladder – Globalisation and Economic Development in Historical Perspective Ha-Joon Chang 25. Time to Replace Globalisation with Localisation Colin Hines 26. Free Trade or Social Tariffs? George DeMartino 27. Global Inequality and the Global Financial Crisis: The New Transmission Mechanism Photis Lysandrou 28. The Great Crash of 2008 and the Reform of Economics Geoffrey M. Hodgson Index

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Book SynopsisWith formidable challenges facing Europe today, effective and well-designed structural reforms are key to shaping Europe?'s future. This book examines the achievements and failures of past structural policies so that new concepts can adapt to address remaining and newly emerging challenges with greater success. Tangible policy advice is offered in the original contributions to this book, re-assessing past ?'moments of truth'? in European structural policy. The book focuses on the area of Central, Eastern and Southeastern Europe (CESEE), not least because this region has been largely successful through a profound transition period. Highlighting the social aspects and distributional effects of reforms that go beyond liberalization and deregulation, the book covers key issues facing Europe in the future, particularly those arising from technological innovation. Structural Reforms for Growth and Cohesion will prove a useful book for academic researchers looking into European policy progress and reform. Indeed, it will also be a vital reference tool for policymakers seeking to deepen their understanding of the challenges facing a modern Europe and how these can be tackled.Contributors include: O. Causa, L. Csaba, O. Dreute, G. Fischer, J.-M. Frie, H. Gabrisch, M. Ghodsi, J. Grübler, S. Guriev, V. Isaila, J. Makúch, A. Mungiu-Pippidi, E. Nowotny, S. Puntscher Riekman, P. Ramskogler, O. Reiter, D. Ritzberger-Grünwald, J. Rusnok, H. Schuberth, H. Schweiger, R. Stehrer, P. Strzelecki, D. Taglioni, L. Vinhas de Souza, B. ViragTable of ContentsContents: PART I A modern take on structural reforms 1. Past and future reform challenges for CESEE and Europe at large Ewald Nowotny, Doris Ritzberger-Grünwald and Helene Schuberth 2. Revisiting transition reform Sergei Guriev 3. Europe’s moments of truth: wicked crises, good and bad consequences Sonja Puntscher Riekmann 4. Social Europe: the pillar of social rights Georg Fischer PART II Technological change and innovation: heterogeneous growth opportunities across countries 5. Innovation in the CESEE region: the role of business environment, financing and reforms Helena Schweiger 6. Squaring the circle: the EU and the challenge of delivering better policies for a globalized world Daria Taglioni 7. Non-tariff measures for better or worse Mahdi Ghodsi, Julia Gruebler, Oliver Reiter and Robert Stehrer PART III The winner takes it all? Distributional effects of reforms 8. Structural reforms and income distribution: an empirical analysis Orsetta Causa 9. Labour market hierarchies and the unemployment-wage nexus in CESEE and in the EU Paul Ramskogler PART IV Past and current reform strategies in Europe 10. Structural reforms in Slovakia: past and present (never-ending story …) Jozef Makúch 11. Crisis management and economic policy shifts in Hungary after 2010 Barnabás Virág 12. Ensuring monetary and financial stability in the Czech Republic Jirí Rusnok 13. Sustainable pension reforms: what can we learn from the experiences of Poland and other EU countries? Paweł A. Strzelecki 14. Europeanization meets transformation: a political economy approach to transition Alina Mungiu-Pippidi PART V Reforming EU frameworks or EU countries? 15. Reforms in the EU: the interface of national and Community levels Lázló Csaba 16. Reflections on a public risk-sharing capacity for the Euro area Hubert Gabrisch 17. Reviving convergence: making EU member states fit for joining the Euro area Lúcio Vinhas de Souza, Oliver Dreute, Vladimir Isaila and Jan-Martin Frie Index

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Book SynopsisAcclaim for previous edition:'Benjamin J. Cohen's Advanced Introduction to International Political Economy evaluates the fragmented intellectual landscape of international political economy and suggests points of convergence, if not integration, among its varied elements. His analysis is wide-ranging and balanced, geographically and in its examination of a variety of standpoints; it is engaging in its combination of sympathy and criticism. All advanced students of the field will benefit from reading it.'- Robert O. Keohane, Princeton University, US Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences and law, expertly written by the world's leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas. Now in its second edition, Benjamin J. Cohen's introduction provides a comprehensive and up-to-date global survey of the field of international political economy. With detailed discussions regarding the divergent paths of different schools of thought in the field, this unique guide explores the links between contending factions. This Advanced Introduction gives students access to the multiple analytical styles and traditions of all perspectives in this rich field of study. Key features of the second edition: ? Concise introduction to the field in an accessible, non-technical form updated with the most recent discussions in IPE? Further in depth analysis of the most established American and British schools of IPE? Extended discussion of other key regions contributing to IPE, including Continental Europe, Latin America, Australia, Canada and China. Written in a concise and dynamic style, this Advanced Introduction serves as a thoughtful entry point text for advanced undergraduate and graduate students, as well as being an excellent go-to resource for scholars specializing in international political economy.Trade ReviewAcclaim for previous edition:'There is no better guide through the terrain of international political economy. Jerry Cohen has been a major contributor since the contemporary field emerged in the late 1960s at the intersection of international relations and international economics. He remains a superbly clear writer with first-hand knowledge of the key developments in what is now a truly global discipline. I recommend this book enthusiastically for introductory courses at the undergraduate or graduate levels.' --Louis W. Pauly, University of Toronto, Canada'A concise, readable and deeply informed survey of different approaches to international political economy. Essential reading for students in the field. Even advanced professionals will appreciate the diversity of perspectives examined. Cohen aims to create a more open field of IPE that appreciates and learns from difference. This book is a major contribution towards that goal.' --David A. Lake, University of California, San Diego, US'Jerry Cohen occupies that rare position from which, when he defines a field, other people sit up and take notice. Here, his experience, insight and vision are brought to bear on how best to define international political economy (IPE) for students who are already familiar with its basic subject matter. Written with his usual panache and in his usual engaging prose, this is a must-read book for both advanced students of IPE and the people who teach them.' --Matthew Watson, University of Warwick, UKTable of ContentsContents: 1. Introduction 2. The American school 3. America’s “Left-Out” 4. The British school 5. Britain’s “Far-Out” 6. Continental Europe 7. Latin America 8. China 9. The geography of IPE 10. What have we learned? Index

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Book Synopsis'The thoroughgoing disaster inflicted on the global economy in 2008 by the gambling of the financial system should have resulted serious sanctions for financial actors and the jettisoning of any belief in the efficacy and fairness of the neoliberal regime. But the tepid action of policy makers has allowed the system to muddle through and undermined any remaining trust and faith among the polity. It is not hard to see the breakdown of political stability across the world in the last two to three years as resulting direct from the justified belief that the rules of the global economy favor the very few. In this book, a group of critical scholars painstakingly identify and illuminate key aspects of the global financial system that continue to reinforce global inequalities of power and that contribute to dangerous political and economic instability. Through a series of thorough case studies ranging from the macroeconomic instability engendered by untrammeled capital flows, to the way sovereign debt restructuring favors northern creditors, to the hierarchy of the monetary system that concentrates enormous power in the hands of a few central banks, these studies throw light on the ways global financial neoliberalism and political and social power work to undermine macroeconomic stability and social justice. It will be read by serious scholars of the political economy of finance with great interest.'- Arjun Jayadev, Azim Premji University, India and Institute for New Economic ThinkingThe essays in this book describe and analyze the current contours of the international financial system, covering both developed and developing countries, and focusing on the ways in which the current international financial system structures and is affected by profound inequalities in the international system. This keen analysis of key topics in international finance takes a heterodox perspective, with focus on the role of inequalities in power in shaping the structure and outcomes in the international sphere.The Political Economy of International Finance in an Age of Inequality begins with a discussion of capital flows and financial crisis, moves into an up-to-date discussion of the political economy of currency unions, and then focuses on analysis of capital flows and economic crises. New and established academics present a broad variety of special case studies within that general framework focusing on understudied yet important up to date cases from understudied regions and countries for a unique and important exploration of the field.This book will be of interest to students and specialists in international finance, who will benefit from the combination of the strong general framework and illustrative case studies. Its approach will appeal both to generalists and specialists.Contributors include: M. Arora, E. Braunstein, H. Comert, D. Dutt, N. Eichacker, G. Epstein, I. Grabel, S. Khalil, M. Majd, F. Perez, L.D. Rosero, Z. YbrayevTrade Review'This volume is a must read for everyone interested in the problems posed by the dollar-based international financial system for countries on the periphery of the world economy. The countries in question must first exchange their ''soft'' domestic currencies for ''hard'' currencies like the dollar before they can purchase goods, services, and assets in international markets. The authors of this volume offer a series of expert, well-researched, and critical analyses of the policies they can pursue to ensure greater equality and stability under these circumstances.' --Edwin Dickens, Saint Peter's University, US'This important book expands the discussion of developments in international finance to take into account the power relations between countries that issue hard or soft currencies. It makes clear that the destructive power of large financial institutions has not abated and the impact of their speculation on developing and emerging market countries has intensified. While the book notes some positive trends such as the growing acceptance of the need for capital controls, the ongoing problem remains: the global economic architecture created by US dollar hegemony perpetuates instability and pervasive inequality within these countries and in their relations with the rest of the world.' --Jane D'Arista, University of Massachusetts Amherst, US'A much needed volume on the developments in the international financial system in the post-2008 crisis era. Through a combination of theoretical analyses and case studies, it uncovers the underlying economic and power structures in international finance and puts the inequalities in the global economy into perspective by focusing on institutions and power relations. The thought-provoking contributions to this volume are essential reading for researchers, students and policymakers and an ideal starting point for further research.' --Ozgur Orhangazi, Kadir Has University, TurkeyTable of ContentsContents: 1. Introduction Gerald A. Epstein Part I Capital Flows and Financial Crises 2. Financial Crises Among Emerging and Developing Economies in the Modern Era: A Brief History and Some Stylized Themes Elissa Braunstein 3. Too Good to Be True: What the Icelandic Crisis Revealed About Global Finance Nina Eichacker 4. Reanalyzing the gender-specific effects of the Great Recession Sana Khalil Part II Managing International Capital Flows: Costs and Dilemmas 5. Capital Controls In a Time of Crisis Ilene Grabel 6. Easing the Trilemma through Reserve Accumulation? The Latin American Case Luis D. Rosero 7. The Costs of Foreign Exchange Intervention: Trends and Implications Devika Dutt 8. Monetary Policy under Financial Dollarization: The Case of Eurasian Economic Union Zhandos Ybrayev Part III Power Relations in the International Financial System: Global and Regional Dimensions 9. The Cost of a SWIFT Kick: Estimating the Cost of Financial Sanctions on Iran Mariam Majd 10. Changing Rules of the Game of Global Finance: Glimpses from the Argentina's Sovereign Debt Restructuring Mohit Arora 11. Solidarity vs. Similarity: The Political Economy of Currency Unions Francisco Perez 12. International Financial Flows and the Future of EU-Turkey Relations Hasan Cömert Index

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Book SynopsisThis Research Handbook on Development and the Informal Economy captures the magnitude of the informal economy for the global labour force. It unravels numerous concepts, definitions and methods of data collection to offer valuable insight into the differences between the informal, non-observed and shadow economies. Situating the concept of the informal economy within the evolution of development theories, strategies and thinking over the past 50 years, this Research Handbook also explores the future direction of the informal economy. Chapters consider recent debates around the transition from the informal to the formal economy, a transition which would reshape the social contract between people and state. Expert international contributors examine a range of policies, actions, regions and groups of vulnerable workers to uncover which forms of organisation will lead to more power, recognition and sustainable livelihoods for the working poor. They also analyse how innovation, knowledge co-production and technological change at a grassroots level can improve the working and living conditions of the informal worker. This Research Handbook maps the changing landscape of the informal economy and will be an essential resource for academics, researchers and students in the fields of development studies, economics and international studies. Trade Review'Jacques Charmes and Edward Elgar Publishing are to be warmly congratulated for this Handbook, which reflects on 50 years of academic discussion on the informal economy, and offers us new insights and inspiration for the next 50 years of such work.' --Simon McGrath, University of Nottingham, UK'This Research Handbook on Development and the Informal Economy is a landmark volume offering a uniquely comprehensive overview of the informal economy across the global landscape. Expertly edited by Jacques Charmes, the volume is international in coverage and exhaustive in scope. Bringing together a global roster of authors and many of the leading authorities on the subject, the individual chapters address the multi-faceted dimensions in an expert manner, and collectively cover all the important issues arising from the persistence of the informal economy globally. It is a timely and authoritative Handbook, offering cutting-edge analysis and reflection, and is an essential read for students, academics and practitioners.' --Colin C. Williams, University of Sheffield, UKTable of ContentsContents: 1 Why and how should the informal economy be revisited after 50 years? 1 Jacques Charmes PART I CONCEPTS AND DEFINITIONS, METHODS OF MEASUREMENT AND ESTIMATION, MAGNITUDE AND CHARACTERISTICS, AND GLOBAL CONCEPTION OF STRATEGIES 2 The success story of a loose but useful concept: origins, development, magnitude and trends of the informal economy 19 Jacques Charmes 3 The Non-Observed Economy vs. the Shadow Economy in the European Union: concepts, measurements methods and estimates revisited 45 Philippe Adair 4 Informality and development in Africa 79 Dorothy McCormick, Erick Manga, Radha Upadhyaya, Paul Kamau, Herbert Wamalwa and Samuel Ngigi 5 Facing informal economy practices and institutions: the challenge of formalisation policies in Africa 116 Frédéric Lapeyre PART II RECONSIDERING THE MARGINS AND FRONTIERS OF THE INFORMAL ECONOMY 6 Informal employment and non-market work 147 Nancy Folbre 7 Assessing the figures of sex work throughout non-transition and transition European countries: magnitude, premium on earnings and informal employment 168 Philippe Adair and Oksana Nezhyvenko 8 Kinship groups and informal trade in West and Central Africa 210 Stephen S. Golub and Mirayda Martinez PART III GIVING VISIBILITY AND VOICE TO THE MOST VULNERABLE: OBSERVING, PARTICIPATING, SUPPORTING AND ORGANISING 9 Street vendors in Tunisia: encountering the informal economy 240 Laurence Michalak 10 Formalisation from the ground: the case of waste pickers’ cooperatives 263 Sonia Maria Dias and Lucía Fernández 11 Collective bargaining by informal workers in the global South: where and how it takes place 285 Françoise Carré, Pat Horn and Chris Bonner 12 Knowledge co-production with and for organisations of informal workers: building democratic capacity for social change 317 Ana Carolina Ogando and Jenna Harvey PART IV SKILLS, INNOVATION AND IMPACT OF TECHNOLOGICAL CHANGE IN THE INFORMAL ECONOMY 13 Skills development and the informal sector: a review of reports and commitments of the international institutions 347 Kenneth King 14 Informality and innovation: an avenue towards bottom-up industrialisation for Africa? 363 Erika Kraemer-Mbula and Lorenza Monaco 15 Innovation in refugee economies: supporting intermediaries that embrace informality 387 Jeremy de Beer and Nicole Tumaine 16 Women in the informal economy and the impact of technological change 410 Jacques Charmes Index 435

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Book SynopsisThe rapid integration of global governments, businesses and capital has faced a dramatic and often hostile backlash in recent years. As populist agendas worldwide gain momentum, Deglobalization 2.0 explores the key drivers of reactionary movements. From the 'Make America Great Again' movement in the US, to Continental European populism, Peter van Bergeijk explains the critical catalysts of anti-globalization sentiment. Through a historical lens, this book draws out similarities and differences between contemporary developments and the economic crises of the 1930s, offering a unique understanding of the political and economic drivers of deglobalization. Focusing on wealth inequality, social uncertainty and international competition for economic supremacy, van Bergeijk examines and offers answers for the lacunae in the globalization debate. Provocative, insightful and accessible, this book confronts the deglobalization issue as a matter of real urgency and is thus vital reading for policy makers and managers working in international affairs and economic relations. It also offers guidance for academics in international economics and relations moving into the uncharted territory of deglobalization processes.Trade Review'This is an insightful and thought-provoking book that ranges widely in its analysis of deglobalization. All students of the international economy should read the latest work of this well-respected economist.' --Andrew K. Rose, University of California, Berkeley, USTable of ContentsContents: Preface 1. Spoilers 2. Setting the stage 3. Deglobalization is not new! 4. What drives deglobalization? 5. Is deglobalization good or bad? 6. The future of deglobalization References Index

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Book Synopsis'The thoroughgoing disaster inflicted on the global economy in 2008 by the gambling of the financial system should have resulted serious sanctions for financial actors and the jettisoning of any belief in the efficacy and fairness of the neoliberal regime. But the tepid action of policy makers has allowed the system to muddle through and undermined any remaining trust and faith among the polity. It is not hard to see the breakdown of political stability across the world in the last two to three years as resulting direct from the justified belief that the rules of the global economy favor the very few. In this book, a group of critical scholars painstakingly identify and illuminate key aspects of the global financial system that continue to reinforce global inequalities of power and that contribute to dangerous political and economic instability. Through a series of thorough case studies ranging from the macroeconomic instability engendered by untrammeled capital flows, to the way sovereign debt restructuring favors northern creditors, to the hierarchy of the monetary system that concentrates enormous power in the hands of a few central banks, these studies throw light on the ways global financial neoliberalism and political and social power work to undermine macroeconomic stability and social justice. It will be read by serious scholars of the political economy of finance with great interest.'- Arjun Jayadev, Azim Premji University, India and Institute for New Economic ThinkingThe essays in this book describe and analyze the current contours of the international financial system, covering both developed and developing countries, and focusing on the ways in which the current international financial system structures and is affected by profound inequalities in the international system. This keen analysis of key topics in international finance takes a heterodox perspective, with focus on the role of inequalities in power in shaping the structure and outcomes in the international sphere.The Political Economy of International Finance in an Age of Inequality begins with a discussion of capital flows and financial crisis, moves into an up-to-date discussion of the political economy of currency unions, and then focuses on analysis of capital flows and economic crises. New and established academics present a broad variety of special case studies within that general framework focusing on understudied yet important up to date cases from understudied regions and countries for a unique and important exploration of the field.This book will be of interest to students and specialists in international finance, who will benefit from the combination of the strong general framework and illustrative case studies. Its approach will appeal both to generalists and specialists.Contributors include: M. Arora, E. Braunstein, H. Comert, D. Dutt, N. Eichacker, G. Epstein, I. Grabel, S. Khalil, M. Majd, F. Perez, L.D. Rosero, Z. YbrayevTrade Review'This volume is a must read for everyone interested in the problems posed by the dollar-based international financial system for countries on the periphery of the world economy. The countries in question must first exchange their ''soft'' domestic currencies for ''hard'' currencies like the dollar before they can purchase goods, services, and assets in international markets. The authors of this volume offer a series of expert, well-researched, and critical analyses of the policies they can pursue to ensure greater equality and stability under these circumstances.' --Edwin Dickens, Saint Peter's University, US'This important book expands the discussion of developments in international finance to take into account the power relations between countries that issue hard or soft currencies. It makes clear that the destructive power of large financial institutions has not abated and the impact of their speculation on developing and emerging market countries has intensified. While the book notes some positive trends such as the growing acceptance of the need for capital controls, the ongoing problem remains: the global economic architecture created by US dollar hegemony perpetuates instability and pervasive inequality within these countries and in their relations with the rest of the world.' --Jane D'Arista, University of Massachusetts Amherst, US'A much needed volume on the developments in the international financial system in the post-2008 crisis era. Through a combination of theoretical analyses and case studies, it uncovers the underlying economic and power structures in international finance and puts the inequalities in the global economy into perspective by focusing on institutions and power relations. The thought-provoking contributions to this volume are essential reading for researchers, students and policymakers and an ideal starting point for further research.' --Ozgur Orhangazi, Kadir Has University, TurkeyTable of ContentsContents: 1. Introduction Gerald A. Epstein Part I Capital Flows and Financial Crises 2. Financial Crises Among Emerging and Developing Economies in the Modern Era: A Brief History and Some Stylized Themes Elissa Braunstein 3. Too Good to Be True: What the Icelandic Crisis Revealed About Global Finance Nina Eichacker 4. Reanalyzing the gender-specific effects of the Great Recession Sana Khalil Part II Managing International Capital Flows: Costs and Dilemmas 5. Capital Controls In a Time of Crisis Ilene Grabel 6. Easing the Trilemma through Reserve Accumulation? The Latin American Case Luis D. Rosero 7. The Costs of Foreign Exchange Intervention: Trends and Implications Devika Dutt 8. Monetary Policy under Financial Dollarization: The Case of Eurasian Economic Union Zhandos Ybrayev Part III Power Relations in the International Financial System: Global and Regional Dimensions 9. The Cost of a SWIFT Kick: Estimating the Cost of Financial Sanctions on Iran Mariam Majd 10. Changing Rules of the Game of Global Finance: Glimpses from the Argentina's Sovereign Debt Restructuring Mohit Arora 11. Solidarity vs. Similarity: The Political Economy of Currency Unions Francisco Perez 12. International Financial Flows and the Future of EU-Turkey Relations Hasan Cömert Index

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Book SynopsisThe past twenty years have seen two waves of research on currency unions, prompted by the early experience of the European Economic and Monetary Union and by the existential crisis experienced by the euro area as a strand of the global financial crisis. The authors explore crucial themes and topics such as optimal currency area theory, the central banks and new views on policy choices, providing a comprehensive and influential review of currency unions.Table of ContentsContents: Volume I Acknowledgements Introduction Fadi Hassan, Patrick Honohan and Davide Romelli PART I OPTIMAL CURRENCY AREAS [153pp] 1. Harris Dellas and George S. Tavlas (2009), ‘An Optimum-Currency-Area Odyssey’, Journal of International Money and Finance, 28 (7), November, 1117–37 [21] 2. Alberto Alesina, Robert J. Barro and Silvana Tenreyro (2002), ‘Optimal Currency Areas’, NBER Macroeconomics Annual 2002, 17, 301–345 [45] 3. Jeffrey A. Frankel and Andrew K. Rose (1998), ‘The Endogeneity of the Optimum Currency Area Criteria ’, Economic Journal, 108 (449), July, 1009–25 [17] 4. Mark Aguiar, Manuel Amador, Emmanuel Farhi and Gita Gopinath (2015), ‘Coordination and Crisis in Monetary Unions’, Quarterly Journal of Economics, 130 (4), November, 1727–79 [53] 5. Pierre-Richard Agénor and Joshua Aizenman (2011), ‘Capital Market Imperfections and the Theory of Optimum Currency Areas’, Journal of International Money and Finance, 30 (8), December, 1659–75 [17] PART II POLICY CHOICES FOR THE UNION AND ITS MEMBERS [275pp] 6. Pierpaolo Benigno (2004), ‘Optimal Monetary Policy in a Currency Union’, Journal of International Economics, 63 (2), July, 293–320 [28] 7. Saroj Bhattarai, Jae Won Lee and Woong Yong Park (2015), ‘Optimal Monetary Policy in a Currency Union with Interest Rate Speeds’, Journal of International Economics, 96 (2), July, 375–97 [23] 8. Emmanuel Farhi and Ivan Werning (2017), ‘Fiscal Unions’, American Economic Review, 107 (12), December, 3788–834 [47] 9. Michael P. Evers (2012), ‘Federal Fiscal Transfer Rules for a Currency Union’, European Economic Review, 56 (3), April, 507–25 [19] 10. Jordi Galí and Tommaso Monacelli (2008), ‘Optimal Monetary and Fiscal Policy in a Currency Union’, Journal of International Economics, 76 (1), September, 116–32 [17] 11. Andrea Ferrero (2009), ‘Fiscal and Monetary Rules for a Currency Union’, Journal of International Economics, 77 (1), February, 1–10 [10] 12. Carlos Garcia-de-Andoain, Florian Heider, Marie Hoerova and Simone Manganelli (2016), ‘Lending-of-Last-Resort Is As Lending-of-Last-Resort Does: Central Bank Liquidity Provision and Interbank Market Functioning in the Euro Area‘, Journal of Financial Intermediation, 28, October, 32–47 [16] 13. Itamar Drechsler, Thomas Drechsel, David Marques-Ibanez and Philipp Schnabl (2016), ‘Who Borrows from the Lender of Last Resort?’, Journal of Finance, 71 (5), October, 1933–74 [42] 14. Paul De Grauwe (2013), ‘The European Central Bank as Lender of Last resort in the Government Bond Markets’, CESifo Economic Studies, 59 (3), September, 520–35 [16] 15. Karl Whelan (2014), ‘TARGET2 and Central Bank Balance Sheets’, Economic Policy, 29 (1), January, 81–137 [57] PART III THE ECONOMIC IMPACT OF CURRENCY UNION MEMBERSHIP [241pp] 16. Philip R. Lane (2006), ‘The Real Effects of European Monetary Union’, Journal of Economic Perspectives, 20 (4), Fall, 47–66 [20] 17. Reuven Glick and Andrew K. Rose (2016), ‘Currency Unions and Trade: A Post-EMU Reassessment’, European Economic Review, 87, August, 78–91 [14] 18. Patrick Honohan and Phillip R. Lane (2003), ‘Divergent Inflation Rates in EMU’, Economic Policy, 18 (37), October, 359–94 [36] 19. Claude Lopez and David H. Papell (2012), ‘Convergence of Euro Area Inflation Rates’, Journal of International Money and Finance, 31 (6), October, 1440–58 [19] 20. John H. Rogers (2007), ‘Monetary Union, Price Level Convergence and Inflation: How Close is Europe to the USA?’, Journal of Monetary Economics, 54 (3), February, 785–96 [12] 21. Alberto Cavallo, Brent Neiman and Roberto Rigobon (2014), ‘Currency Unions, Product Introductions, and the Real Exchange Rate’, Quarterly Journal of Economics, 129 (2), May, 529–95 [67] 22. Söhnke M. Bartram and Yaw-Huei Wang (2015), ‘European Financial Market Dependence: An Industry Analysis’, Journal of Banking and Finance, 59, October, 146–63 [18] 23. Michael Ehrmann, Marcel Fratzscher, Refet S. Gürkaynak and Eric T. Swanson (2011), ‘Convergence and Anchoring of Yield Curves in the Euro Area’, Review of Economics and Statistics, 93 (1), February, 350–364 [15] 24. Fabio Canova, Matteo Ciccarelli and Eva Ortega (2007), ‘Similarities and Convergence in G-7 Cycles’, Journal of Monetary Economics, 54 (3), April, 850–78 [29] 25. Paul De Grauwe and Yuemei Ji (2015), ‘Has the Eurozone Become Less Fragile? Some Empirical Tests’, Journal of Policy Modeling, 37 (3), May-June, 404–14 [11] Volume II PART I THE EURO AREA CRISIS [319pp] 1. Philip R. Lane (2012), ‘The European Sovereign Debt Crisis’, Journal of Economic Perspectives, 26 (3), Summer, 49–67 [19] 2. Jay C. Shambaugh (2012), ‘The Euro’s Three Crises’, Brookings Papers on Economic Activity, Spring, 157–231 [75] 3. Marcel Fratzscher, Marco lo Duca and Roland Straub (2016), ‘ECB Unconventional Monetary Policy: Market Impact and International Spillovers’, IMF Economic Review, 64 (1), May, 36–74 [39] 4. Philippe Martin and Thomas Philippon (2017), ‘Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone’, American Economic Review, 107 (7), July, 1904–37 [34] 5. Viral Acharya, Itamar Drechsler and Philipp Schnabl (2014), ‘A Pyrrhic Victory? Bank Bailouts and Sovereign Credit Risk’, Journal of Finance, 69 (6), December, 2689–739 [51] 6. Emmanuel Farhi and Jean Tirole (2018), ‘Deadly Embrace: Sovereign and Financial Balance Sheets Doom Loops’, Review of Economic Studies, 85 (3), July, 1781–823 [43] 7. Barry Eichengreen (2010), ‘The Breakup of the Euro Area’ in Alberto Alesina and Francesco Giavazzi (eds), Europe and the Euro, Chicago, IL, USA: University of Chicago Press, February, 11–51 [41] 8. Felix Roth, Lars Jonung and Felicitas Nowak-Lehmann D. (2016), ‘Crisis and Public Support for the Euro, 1990–2014’, Journal of Common Market Studies, 54 (4), July, 944–60 [17] PART II OTHER CURRENCY UNIONS [83pp] 9. Kevin H. O’Rourke and Alan M. Taylor (2013), ‘Cross of Euros’, Journal of Economic Perspectives, 27 (3), Summer, 167–92 [26] 10. Richard Pomfret (2016), ‘Currency Union and Disunion in Europe and the Former Soviet Union’, CESifo Forum, 17 (4), December, 43–7 [5] 11. Andrew K. Rose and Charles Engel (2002), ‘Currency Unions and International Integration’, Journal of Money, Credit and Banking, 34 (4), November, 1067–89 [23] 12. Cécile Couharde, Issiaka Coulibaly, David Guerreiro and Valérie Mignon (2013), ‘Revisiting the Theory of Optimum Currency Areas: Is the CFA Franc Zone Sustainable’, Journal of Macroeconomics, 38 (B), December, 428–41 [14] 13. Steven K. Buigut and Neven T. Valev (2005), ‘Is the Proposed East African Monetary Union an Optimal Currency Area? A Structural Vector Autoregression Analysis’, World Development, 33 (12), December, 2119–33 [15] PART III COMPLEMENTARY INSTITUTIONS AND POLITICAL ISSUES [183pp] 14. Enrico Spolaore (2013), ‘What is European Integration Really About? A Political Guide for Economists’, Journal of Economic Perspectives, 27 (3), Summer, 125–44 [20] 15. David Schäfer (2016), ‘A Banking Union of Ideas? The Impact of Ordoliberalism and the Vicious Circle on the EU Banking Union’, Journal of Common Market Studies, 54 (4), July, 961–80 [20] 16. Daniel Gros and Dirk Schoenmaker (2014), ‘European Deposit Insurance and Resolution in the Banking Union’, Journal of Common Market Studies, 52 (3), May, 529–46 [18] 17. Charles Goodhart and Dirk Schoenmaker (2009), ‘Fiscal Burden Sharing in Cross-Border Banking Crises’, International Journal of Central Banking, 5, March, 141–65 [25] 18. Carlo Favero and Alessandro Missale and Thorsten Beck (2012), ‘Sovereign Spreads in the Eurozone: Which Prospects for a Eurobond?’, Economic Policy, 27 (70), April, 233–73 [41] 19. Markus K. Brunnermeier, Sam Langfield, Marco Pagano, Ricardo Reis, Stijn Van Nieuwerburgh and Dimitri Vayanos (2017), ‘ESBies: Safety in the Tranches’, Economic Policy, 32 (90), April, 177–219 [43] 20. Varadarajan V. Chari and Patrick J. Kehoe (2007), ‘On the Need for Fiscal Constraints in a Monetary Union’, Journal of Monetary Economics, 54 (8), November, 2399–408 [10] 21. Ricardo Reis (2013), ‘The Mystique Surrounding the Central Bank’s Balance Sheet, Applied to the European Crisis’, American Economic Review, 103 (3), May, 135–40 [6]

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Book SynopsisThis Modern Guide presents a comprehensive synthesis of contemporary thought on the informal economy, which, as the author demonstrates – far from being a peripheral feature of the global economy – is a system in which the majority of the global workforce are employed and which has pervasive detrimental effects. Formalising it is therefore a priority for most governments. Employing theoretical and empirical methodologies, Colin C. Williams explores the latest research on methods of understanding and measuring the informal economy in its various forms, and discusses the rationale behind its participants. Its rigorous discussion of the need to shift away from solely using tools that punish the practice and towards aligning social norms with the regulations of formal institutions is complemented by a rich analysis of how jobs and enterprises across the world can be encouraged to make the transition towards formalism. Incentives, education and reform are among the strategies advocated in this Modern Guide’s compelling and lucid roadmap for the transition to formality.An invaluable resource for policymakers involved in tax, social security and labour policies, belonging to both governments and supra-national institutions, the book will also be valuable for academics and researchers in sociology, economics and business studies, especially those with an interest in taxation, industrial relations, entrepreneurship and labour economics.Trade Review‘Peerless and prolific, Professor Colin Williams has again produced an essential guide for anyone wanting a concise yet sophisticated introduction to contemporary issues in the “informal economy”. With admirable clarity and precision, Professor Williams deftly explains the magnitude, characteristics and drivers of the informal economy. Nuanced assessments of theoretical and policy choices inform the “roadmap” this text provides to understanding such an integral feature of the global economy. Seasoned scholars and newcomers alike will find value in Professor William’s latest contribution to this important topic.’ -- Monder Ram, Aston University, UK‘An indispensable book to understanding one of the most important policy challenges of the 21st century: how to facilitate transition from the informal to the formal economy to ensure sustainable development and decent work. Professor Williams provides an intelligent, evidence-based and well-structured critical contribution to the knowledge of both the concept of informal economy and policy options for tackling the informal economy.’ -- Frédéric Lapeyre, International Labour Organization‘Colin William’s book is a must read classic for anyone looking for an in depth understanding of the informal economy. . . the book nails the pulse of the modern informal system.’ -- Anjula Gurtoo, Indian Institute of Science, India‘This book provides an excellent bridge between academia and policymakers by offering a synthesis of the latest state of research in the field of the informal economy, presented in an easy to understand and yet a comprehensive way. Critical insights for researchers and policymakers in the field of tax administration, labour and social security policies are provided.’ -- Ioana Alexandra Horodnic, ‘Alexandru Ioan Cuza’ University of Iași, RomaniaTable of ContentsContents: 1. Introduction to the informal economy 1 PART I THEORETICAL AND METHODOLOGICAL PERSPECTIVES 2. Evolution of theories explaining the informal economy 3. Methods for measuring the size of the informal economy PART II MAGNITUDE AND CHARACTER OF THE INFORMAL ECONOMY 4. Prevalence of the informal economy in global perspective 5. Types of work in the informal economy 6. Who participates in the different types of informal work and why? PART III POLICY APPROACHES 7. Policy options for tackling the informal economy: objectives and policy measures 8. Deterring participation in the informal economy 9. Incentives to operate in the formal economy 10. Education and awareness raising to encourage formalisation 11. Reforming formal institutions to encourage formalisation 12. Conclusions and a future roadmap for the transition to formality References Index

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Book SynopsisIn the age of globalisation, goods, services, labour and capital are crossing international borders on a scale never before known. They are creating a nationless market. Governed by both the invisible hand of business and interest and the visible hand of authority and direction, a world market can be a free-for-all, but it can also be constrained by the national interest of countries that differ greatly in their social institutions and material circumstances. This book provides a lucid and comprehensive account of contemporary international political economy. Beginning with the ideological underpinnings, it examines the globalisation of trade in goods and services and labour and capital. It relates the free economic market to social consensus and political regulation, both within sovereign countries and at the supra-national level. The book is comprehensive and interdisciplinary, incorporating philosophical, political, social and economic insights on an international scale and applying them directly to the ongoing phenomenon of globalisation. Topical and non-nation specific, it covers the WTO, EU, the transfer of technology, the multinational corporation, the exchange rate, free versus regulated trade, the status of agreements and blocs, as well as contemporary issues such as populism, xenophobia and rapid economic growth in both rich and poor nations. Accessible to specialists, students and the informed reader alike, State and Trade offers wide-ranging analysis of the politics of trade in goods and services, international investment and the migration of labour across the globe.Trade Review'State and Trade is a concise, comprehensive, and insightful assessment of international political economy (IPE) in the 21st century. Its balanced perspective is appropriate for students, and the crisp, original writing style, with thoughtful side comments, will attract scholars and experts alike.' --David A. Deese, Yale University and Boston College, USTable of ContentsContents: 1. The earth is flat 2. Science and ideology 3. The National Interest 4. Collective Action 5. Goods and Services 6. Agreements and Blocs 7. Development and Trade 8. The Multinational Enterprise 9. International Liquidity 10. Money without Borders Index

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Book SynopsisMotivated by both the growing economic significance of Asia in the global economy and the pivotal role played by Asia-focused research in the enrichment of the subject of development economics, the author has provided a timely and valuable review that provides a comprehensive picture of policy making and economic performance of these countries over the entire post-Second World War era.Table of ContentsContents: Volume I Acknowledgements Introduction Prema-chandra Athukorala PART I HISTORICAL PERSPECTIVE [150 pp] 1. Tetsuji Okazaki and Masahiro Okuno-Fujiwara (1999), ‘Japan’s Present-Day Economic System and Its Historical Origin’, in The Japanese Economic System and Its Historical Origins, Oxford, UK and New York, NY, USA: Oxford University Press, 1–37 [37] 2. Dwight H. Perkins (2015), ‘The Historical Foundations of East Asian Development’, in East Asian Development: Foundations and Strategies, Cambridge, Mass: Harvard University Press, 14–47 [34] 3. Louis Putterman (1992),’Dualism and Reform in China’, Economic Development and Cultural Change, 40 (3), April, 467–93 [27] 4. B.H. Farmer (1993), ‘The British Period, the Coming of Independence and Partition’, in An Introduction to South Asia: Second Edition, Chapter 3, London, UK and New York, NY, USA: Routledge, 26–46, 174–6 [24] 5. Kaushik Basu (2018), ‘A Short History of India’s Economy: A Chapter in the Asian Drama’, WIDER Working Paper 2018/124, United Nations University, World Institute for Developmental Research, i–ii, 1–26 [28] PART II DEVELOPMENT POLICY [383 pp] 6. Michael Beckley, Yusaku Horiuchi and Jennifer M. Miller (2018), ‘America’s Role in the Making of Japan’s Economic Miracle’, Journal of East Asian Studies, 18 (1), March, 1–21 [21] 7. Mushtaq H. Khan (2018), ‘Institutions and Asia’s Development: The Role of Norms and Organizational Power’, WIDER Working Paper 2018/132, United Nations University, World Institute for Developmental Research, i–ii, 1–20 [22] 8. Dwight H. Perkins (2004), ‘Corporate Governance, Industrial Policy, and Rules of Law’, in Shahid Yusuf, M. Anjun Altaf and Kaoru Nabeshima (eds), Global Change and East Asian Policy Initiatives, Washington DC: World Bank, 293–336 [44] 9. Stephan Haggard (2004), ’Institutions and Growth in East Asia’, Studies in Comparative International Development, 38 (4), Winter, 53–81 [29] 10. Gustav Ranis (1995), ‘Another Look at the East Asian Miracle’, The World Bank Economic Review, 9 (3), September, 509–34 [26] 11. Lawrence J. Lau, Yingyi Qian and Gérard Roland (2000), ‘Reform Without Losers: An Interpretation of China’s Dual-Track Approach to Transition’, Journal of Political Economy, 108 (1), February, 120–43 [24] 12. Chen Ling and Barry Naughton (2016), ‘An Institutionalized Policy-Making Mechanism: China’s Return to Techno-Industrial Policy’, Research Policy, 45 (10), December, 2138–52 [15] 13. Atul Kohli (1994), ’Where do High Growth Political Economies Come From? The Japanese Lineage of Korea’s “Developmental State”’, World Development, 22 (9), September, 1269–93 [25] 14. Ha-Joon Chang (1993), ‘The Political Economy of Industrial Policy in Korea’, Cambridge Journal of Economics, 17 (2), June, 131–57 [27] 15. James Riedel (2015), ‘Lessons for Last Comers from Vietnam’s Transition’, Journal of Southeast Asian Economies, 32 (1), 125–39 [15] 16. Ronald Findlay, Cyn-Young Park, Jean-Pierre A. Verbiest (2016), ‘Myanmar: Building Economic Foundations’, Asian-Pacific Economic Literature, 30 (1), May, 42–64 [23] 17. Sukhamoy Chakravarty (1987), ’Foundation of India’s Development Strategy: The Nehru-Mahalanobis Approach’, in (ed), Development Planning: The Indian Experience, Chapter 2, Delhi, India: Oxford University Press, 7–18 [12] 18. Arvind Panagariya (2018), ‘India: Three and a Half Years of Modinomics’, Working Paper 2018-01, Deepak and Neera Raj Center on Indian Economic Policies, New York, NY USA: Columbia University, i–ii, 1–34 [36] 19. Amartya Sen (2005), ’Democracy and Secularism in India’, in Kaushik Basu (ed.), India’s Emerging Economy: Performance and Prospects in the 1900s and Beyond, Cambridge, MA: MIT Press, 35–47 [13] 20. Jean Drèze and Reetika Khera (2017), ‘Recent Social Security Initiatives in India’, World Development, 98 (4), October, 555–72 [18] 21. Prema-chandra Athukorala and Sisira Jayasuriya (2015), ‘Victory in War and Defeat in Peace: Politics and Economics of Post-Conflict Sri Lanka’, Asian Economic Papers, 14 (3), Fall, 22–54 [33] PART III GROWTH AND STRUCTURAL CHANGE [359 pp] 22. Dirk Pilat (2002), ‘The Long-Term Performance of the Japanese Economy’, in Angus Maddison, D.S. Prasada Rao and William F. Shepherd (eds), The Asian Economies in the Twentieth Century, Cheltenham, UK and Northampton, MA, USA: Edward Elgar Publishing, 180–225 [46] 23. Tamim Bayoumi (2001), ‘The Morning After: Explaining the Slowdown in Japanese Growth in the 1990s’, Journal of International Economics, 53 (2), April, 241–59 [19] 24. Paul Krugman (2014), ‘Four Observations on Secular Stagnation’, in Coen Teulings and Richard Baldwin (eds), Secular Stagnation: Facts, Causes and Curves, CEPR Press, London, UK, 61–8 [8] 25. Nicholas Lardy (2015), ‘China’s Economic Reforms and Growth Prospects’, China Economic Journal, 8 (2), 95–108 [14] 26. Dwight H. Perkins (2015), ‘Understanding the Slowing Growth Rate of the People’s Republic of China’, Asian Development Review, 32 (1), March, 1–30 [30] 27. Jan Nederveen Pieterse (2015), ‘What Happened to the Miracle Eight? Looking East in the Twenty-First Century’, Canadian Journal of Development Studies / Revue canadienne d’études du développement, 36 (3), 263–82 [20] 28. Bart van Ark and Marcel P. Timmer (2002), ‘Realising Growth Potential: South Korea and Taiwan, 1960 to 1998’ in Angus Maddison, D.S. Prasada Rao and William F. Shepherd (eds), The Asian Economies in the Twentieth Century, Cheltenham UK and Northampton, MA, USA: Edward Elgar Publishing, 226–44 [19] 29. Hal Hill (2017), ’Southeast Asia in the Global Economy: A Selective Analytical Survey’, Philippine Review of Economics, LIV (2), 1–36 [36] 30. Hal Hill (2018), ‘Asia’s Third Giant: A Survey of the Indonesian Economy’, Economic Record, 94 (307), December, 469–99 [31] 31. W.G. Huff (2007), ‘Singapore’s Economic Development: Four Lessons and Some Doubts’, Oxford Development Studies, 27 (1), 33–55 [23] 32. Hal Hill and Jayant Menon (2014), ‘Cambodia: Rapid Growth in an Open, Post-conflict Economy’, World Economy, Special Issue: Global Trade Policy, 37 (12), December, 1649–68 [20] 33. Jayant Menon and Peter Warr (2013), ‘The Lao Economy: Capitalizing on Natural Resource Exports’, Asian Economic Policy Review, 8 (1), June, 70–89 [20] 34. Kaushik Basu (2009), ‘China and India: Idiosyncratic Paths to High Growth’, Economic and Political Weekly, XLIV (38), September 19th–25th, 43–49, 52–56 [12] 35. Vijay Joshi (2018), ‘India’s Search for Prosperity’, Australian Economic Review, 51 (2), June, 165–74 [10] 36. M. Niaz Asadullah, Antonio Savoia and Wahiduddin Mahmud (2014), ’Paths to Development: Is There a Bangladesh Surprise?, World Development, 62, October, 138–54 [17] 37. Kishor Sharma (2006), ‘The Political Economy of Civil War in Nepal’, World Development, 34 (7), July, 1237–53 [17] 38. Prema-chandra Athukorala (2016), ‘Sri Lanka’s Post-civil War Development Challenge: Learning From the Past’, Contemporary South Asia, 24 (1), 19–35 [17] Volume II Acknowledgements Introduction An introduction to both volumes by the editor appears in Volume 1 PART I POVERTY AND INEQUALITY [240 pp] 1. Chiaki Moriguchi and Emmanuel Saez (2008), ‘The Evolution of Income Concentration in Japan, 1886–2005: Evidence From Income Tax Statistics’, Review of Economics and Statistics, 90 (4), November, 713–34 [22] 2. Fumio Ohtake (2008), ‘Inequality in Japan’, Asian Economic Policy Review, 3 (1), May, 87–109 [23] 3. Martin Ravallion (2011), ‘A Comparative Perspective on Poverty Reduction in Brazil, China, and India’, World Bank Research Observer, 26 (1), February, 71–104 [34] 4. Pranab Bardhan (2008), ‘Economic Reforms, Poverty and Inequality in China and India’, Kaushik Basu and Ravi Kanbur (eds), Arguments For a Better World: Essays in Honor of Amartya Sen, Volume II: Society, Institutions, and Development, Chapter 18, Oxford, UK: Oxford University Press, 350–64 [15] 5. Angus Deaton and Valerie Kozel (2005), ‘Data and Dogma: The Great Indian Poverty Debate’, World Bank Research Observer, 20 (2), Fall, 177–99 [23] 6. Amit Thorat, Reeve Vanneman, Sonalde Desai and Amaresh Dubey (2017), ‘Escaping and Falling into Poverty in India Today’, World Development, 93, May, 413–26 [14] 7. John Gibson, Trinh Le and Bonggeun Kim (2017), ‘Prices, Engel Curves, and Time-Space Deflation: Impacts on Poverty and Inequality in Vietnam’, World Bank Economic Review, 31 (2), June, 504–30 [27] 8. Gustav Ranis (1978), ‘Equity with Growth in Taiwan: How ‘Special’ is the ‘Special Case?’’, World Development, 6 (3), March, 397–409 [13] 9. Pan-Long Tsai and Chao-Hsi Huang (2007), ‘Openness, Growth and Poverty: The Case of Taiwan’, World Development, 35 (11), November, 1858–71 [14] 10. Arsenio M. Balisacan and Nobuhiko Fuwa (2004), ‘Going Beyond Crosscountry Averages: Growth, Inequality and Poverty Reduction in the Philippines’, World Development, 32 (11), November, 1891–907 [17] 11. Jeffrey G. Williamson (2017),‘Philippine Inequality Across the Twentieth Century: Slim Evidence, but Fat Questions’, Philippine Review of Economics, LIV (2), 37–60 [24] 12. David Dunham and Sisira Jayasuriya (2000), ’Equity, Growth and Insurrection: Liberalization and the Welfare Debate in Contemporary Sri Lanka’, Oxford Development Studies, 28 (1), 97–110 [14] PART II FINANCIAL FACTORS IN ECONOMIC DEVELOPMENT [197 pp] 13. Charles Yuji Horioka (2018), ‘Are the Japanese Unique? Evidence from Saving and Bequest Behaviour’, Singapore Economic Review, 63 (1), 1–18 [18] 14. Charles Yuji Horioka (2010), ‘The (Dis)saving Behavior of the Aged in Japan’, Japan and the World Economy, 22 (3), August, 151–8 [8] 15. Fumio Hayashi (2006), ‘The Over-Investment Hypothesis’, in Lawrence R. Klein (ed.), Long-run Growth and Short-Run Stabilization: Essays in Memory of Albert Ando, Cheltenham, UK and Northampton, MA, USA: Edward Elgar Publishing Ltd, 275–87 [13] 16. Franco Modigliani and Shi Larry Cao (2004), ‘The Chinese Puzzle and the Life-Cycle Hypothesis’, Journal of Economic Literature, XLII (1), March, 145–70 [26] 17. Suqin Ge, Dennis Tao Yang and Junsen Zhang (2018), ‘Population Policies, Demographic Structural Changes, and the Chinese Household Saving Puzzle’, European Economic Review, 101 (1), January, 181–209 [29] 18. Chadwick C. Curtis, Steven Lugauer, and Nelson C. Mark (2017),’Demographics and Aggregate Household Saving in Japan, China, and India’, Journal of Macroeconomics, 51, March, 175–91 [17] 19. Ayşe İmrohoroğlu and Kai Zhao (2018),’The Chinese Saving Rate: Long-Term Care Risks, Family Insurance, and Demographics’, Journal of Monetary Economics, 96, June, 33–52 [20] 20. Daekeun Park and Changyong Rhee (2005), ‘Saving, Growth, and Demographic Change in Korea’, Journal of the Japanese and International Economies, 19 (3), September, 394–413 [20] 21. Angus Deaton and Christina Paxson (2000), ‘Growth, Demographic Structure, and National Saving in Taiwan’, Population and Development Review, Supplement: Population and Economic Change in East Asia, 26, March, 141–73 [33] 22. Prema-chandra Athukorala and Kunal Sen (2004), ‘The Determinants of Private Saving in India’, World Development, 32 (3), 491–503 [13] PART III DEMOGRAPHY AND HUMAN RESOURCE [246 pp] 23. Theodore R. Breton (2015), ‘Human Capital and Growth in Japan: Converging to the Steady State in a 1% World’, Journal of the Japanese and International Economies, 36, June, 73–89 [17] 24. Ichiro Muto, Takemasa Oda and Nao Sudo (2016), ‘Macroeconomic Impact of Population Aging in Japan: A Perspective from an Overlapping Generations Model’, IMF Economic Review, 64 (3), August, 408–42 [35] 25. Charles Yuji Horioka, Wataru Suzuki and Tatsuo Hatta (2007), ‘Aging, Savings, and Public Pensions in Japan’, Asian Economic Policy Review, 2 (2), December, 303–19 [17] 26. Xin Meng (2012), ‘Labor Market Outcomes and Reforms in China’, Journal of Economic Perspectives, 26 (4), Fall, 75–101 [27] 27. Prema-chandra Athukorala and Zheng Wei (2018), ‘Economic Transition and Labour Market Dynamics in China: An Interpretative Survey of the ‘Turning Point’ Debate’, Journal of Economic Surveys, 32 (2), April, 420–39 [20] 28. Ross Garnaut (2010), ‘Macro-economic Implications of the Turning Point’, China Economics Journal, 3 (2), 181–90 [10] 29. David E. Bloom and Jeffrey G. Williamson (1998), ’Demographic Transitions and Economic Miracles in Emerging Asia’, World Bank Economic Review, 12 (3), September, 419–55 [37] 30. Yih-Chyi Chuang (1999), ‘The Role of Human Capital in Economic Development: Evidence From Taiwan’, Asian Economic Journal, 13 (2), June, 117–44 [28] 31. T.N. Srinivasan (2010), ‘Employment and India’s Development and Reforms’, Journal of Comparative Economics, 38 (1), March, 82–106 [25] 32. Günseli Berik and Yana Van Der Meulen Rodgers (2010), ‘Options for Enforcing Labour Standards: Lessons from Bangladesh and Cambodia’, Journal of International Development, 22 (1), January, 56–85 [30] PART IV INTERNATIONAL DIMENSIONS: FOREING TRADE AND INVESTMENT [198 pp] 33. Prema-chandra Athukorala and Hal Hill (2010), ’Asian Trade and Investment: Patterns and Trends’, in Prema-chandra Athukorala (ed), The Rise of Asia: Trade and Investment in Global Perspective, London, UK and New York, NY, USA: Routledge, 11–57 [47] 34. Ralph Paprzycki and Kyoji Fukao (2008), ’Japan’s Economic Growth and Foreign Direct Investment’, in Foreign Direct Investment in Japan: Multinationals’ Role in Growth and Globalization, Cambridge, UK: Cambridge University Press, 84–110 [27] 35. Barry Eichengreen and Hui Tong (2006), ‘Fear of China’, Journal of Asian Economics, 17 (2), April, 226–40 [15] 36. Shahid Yusuf, Kaoru Nabeshima and Dwight H. Perkins (2007), ‘China and India Reshape Industrial Geography’, L. Alan Winters and Shahid Yusuf (eds), Dancing with Giants: China, India, and the Global Economy, Washington DC, USA: World Bank, 35–66 [32] 37. Petia Topalova and Amit Khandelwal (2011), ‘Trade Liberalization and Firm Productivity: The Case of India’, Review of Economics and Statistics, 93 (3), August, 995–1009 [15] 38. Prema-chandra Athukorala and Archanan Kohpaiboon (2014), ’Global Production Sharing, Trade Patterns and Industrialization in Southeast Asia’, in Ian Coxhead (ed.), Routledge Handbook of Southeast Asian Economies, London, UK: Routledge, 139–61 [23] 39. Prema-chandra Athukorala and Tran Quang Tien (2012), ’Foreign Direct Investment in Industrial Transition: The Experience of Vietnam’, Journal of the Asia Pacific Economy, 17 (3), 446–63 [18] 40. Prema-chandra Athukorala (2019), ’Joining Global Production Networks: Experience and Prospects of India’, Asian Economic Policy Review, 14 (1), January, 123–43 [21]

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Book SynopsisThis insightful book examines the growing role of China on the global stage by gauging the varying reactions of international spectators to Beijing's hugely significant Belt and Road Initiative. Featuring detailed studies of key geologistical projects, Peter Rimmer charts the swift transformation of China's domestic logistics systems into a global geologistics policy.Analyses of major international logistical projects, from the Great Stone Industrial Park of Belarus, through the ports of Gwadar, Piraeus, Darwin and Sabetta to the Nicaragua Canal, illustrate the global impact of China's geologistical developments and how key logistics skills are exported through the Silk Road Economic Belt and the 21st Century Maritime Silk Road. This book distils China's global logistics developments into three basic models - the transcontinental, the reverse and the classic - to reflect upon the effects of the first five years of the Belt and Road Initiative. Laced with detailed empirical studies and an array of illustrative maps, Rimmer assesses the domestic impact of the Initiative thus far and offers an astute appraisal of the imperial connotations of Beijing's global logistical project.This enlightening book provides crucial insights for academics and researchers in political science, transport studies and economics investigating China's recent policy initiatives, particularly those who examine the impact of geologistics. Policymakers and commentators will also benefit from the author's unique empirical insight into global logistics development.Trade Review‘Since Rimmer assesses both the BRI’s evolution as well as political and logistic responses in the targeted regions, the book provides an essential read for understanding how extensive, transnational transport routes under the initiative reconstitute the geographic arena for China’s policymakers.’ -- Susann Handke, Independent scholar‘This book analyses the impact of China’s global logistics developments since the launch of the Belt and Road Initiative. Laced with detailed empirical studies and a great array of illustrative maps, Professor Rimmer has brilliantly assessed the domestic impact of the BRI thus far and offered a convincing appraisal of Beijing’s global logistical projects. It has a rich bibliography over and above the nice cartography of maps. Not only its trans-continent plateau, but he has also looked into the specifics of the Initiative through trade, transportation and logistics. This book is certainly a great resource for those who are evaluating the success or failures of the BRI and way ahead.’ -- Prabir De, Journal of Asian Economic Integration‘Peter Rimmer’s China's Global Vision and Actions is a tour de force examination of China’s Belt and Road Initiative (BRI). Using geologistics as the analytic compass, Rimmer takes the reader farther and wider than any previous book in understanding the BRI’s true global scope, significance and emerging impact.’ -- Xiangming Chen, Trinity College, US and Fudan University, China‘This is a remarkable and innovative book. Drawing on insights from geologistics, geopolitics and geoculture, Peter J. Rimmer provides a much-needed analytical intelligence of China’s perspective of global transport geography through a detailed empirical and conceptual exploration of landbridges and maritime corridors of the Belt and Road Initiative.’ -- Claude Comtois, University of Montreal, CanadaTable of ContentsContents: Preface: Beyond China, China, China PART I INTRODUCTION 1. Actions and Reactions PART II CHINA 2. From China’s Logistics to China’s Geologistics PART III THE SILK ROAD ECONOMIC BELT: LANDBRIDGES, ECONOMIC CORRIDORS AND DRY PORTS 3. Landbridging Eurasia 4. Secondary Economic Corridors, Dry Ports and Seaport Gateways PART IV THE TWENTY-FIRST CENTURY MARITIME SILK ROAD: BLUE ECONOMIC PASSAGES, AN ECONOMIC CIRCLE AND SEAPORTS 5. China-Indian Ocean-Africa-Mediterranean Passage 6. China-Oceania-South Pacific Passage: Adding Antarctica 7. China-Arctic Ocean Passage 8. China-Trans-Pacific Ocean Passage: Latin America and the Caribbean PART V CONCLUSION 9. Five Years On, Centennial Goals and an Imperial Connection? Bibliography Index

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Book SynopsisElgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business and law, expertly written by the world's leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas.This Advanced Introduction provides a comprehensive guide to the vibrant and expanding global production network (GPN) approach. Neil M. Coe deftly explores the antecedents and theoretical underpinnings of GPN analysis, as well as debates and controversies surrounding the approach and its position in wider interdisciplinary discussions. He argues overall that, during a time of profound ongoing challenges within the global economic system, the need for a GPN framework has never been more pressing.Key features include: an up-to-date assessment of current debates in the literature an integrated perspective on how GPN thinking can aid understanding of capitalist uneven development a wide range of sectoral and geographical examples a thorough discussion of connections to cognate debates in the wider social sciences and business and management studies identification of future research challenges in the field. In short, Advanced Introduction to Global Production Networks is an ideal introductory book for students at both undergraduate and postgraduate levels in geography, economics and business looking to understand the organization and dynamics of the global economy.Trade Review’Neil Coe presents an engaging and impressively lucid introduction to global production networks as a powerful framework for understanding cross-border flows of goods and services and their geographical energies and outcomes. As one of the framework's architects, Coe expertly takes the reader through its core tenets, as well as inviting us to consider its potential for grasping some of the major challenges facing the global economy in the 2020s.’ -- - Alex Hughes, Newcastle University, UK’Coe’s book offers a much needed, comprehensive elaboration of the GPN approach, detailing its origins, elements, features, and the processes through which GPN couplings shape regional development outcomes. It is a highly accessible and thorough resource for scholars and students interested in studying and understanding the organization, governance, geographies, and development implications of global production networks today. Superbly organized and written, this Advanced Introduction will be an essential reference and guide for years to come.’ -- - James T. Murphy, Clark University, US’Coe navigates the complex world of global production networks in a highly informative and lucid way. He weaves diverse approaches to the analysis of global production networks into an articulate synthesis of a rapidly evolving GPN literature. This book is a must read for all scholars and students examining the dynamics of global production, distribution and trade, and wider social and environmental implications. It provides crucial insights into contemporary global economic development.’ -- - Stephanie Barrientos, The University of Manchester, UK’Neil M. Coe’s Advanced Introduction provides all you need to know about global production networks in one place. Smartly organized, comprehensive but succinct, and easy to follow but precise, this is the perfect book for all those who want to know how the geography of global production is changing and why.’ -- - Stefano Ponte, Copenhagen Business School, DenmarkTable of ContentsContents: 1. Introduction 2. A global production network world? 3. Organization 4. Territoriality 5. Firm strategies 6. Institutional landscapes 7. Strategic coupling 8. Contested development 9. Futures References Index

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Book SynopsisElgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business and law, expertly written by the world's leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas.This Advanced Introduction provides a comprehensive guide to the vibrant and expanding global production network (GPN) approach. Neil M. Coe deftly explores the antecedents and theoretical underpinnings of GPN analysis, as well as debates and controversies surrounding the approach and its position in wider interdisciplinary discussions. He argues overall that, during a time of profound ongoing challenges within the global economic system, the need for a GPN framework has never been more pressing.Key features include: an up-to-date assessment of current debates in the literature an integrated perspective on how GPN thinking can aid understanding of capitalist uneven development a wide range of sectoral and geographical examples a thorough discussion of connections to cognate debates in the wider social sciences and business and management studies identification of future research challenges in the field. In short, Advanced Introduction to Global Production Networks is an ideal introductory book for students at both undergraduate and postgraduate levels in geography, economics and business looking to understand the organization and dynamics of the global economy.Trade Review’Neil Coe presents an engaging and impressively lucid introduction to global production networks as a powerful framework for understanding cross-border flows of goods and services and their geographical energies and outcomes. As one of the framework's architects, Coe expertly takes the reader through its core tenets, as well as inviting us to consider its potential for grasping some of the major challenges facing the global economy in the 2020s.’ -- - Alex Hughes, Newcastle University, UK’Coe’s book offers a much needed, comprehensive elaboration of the GPN approach, detailing its origins, elements, features, and the processes through which GPN couplings shape regional development outcomes. It is a highly accessible and thorough resource for scholars and students interested in studying and understanding the organization, governance, geographies, and development implications of global production networks today. Superbly organized and written, this Advanced Introduction will be an essential reference and guide for years to come.’ -- - James T. Murphy, Clark University, US’Coe navigates the complex world of global production networks in a highly informative and lucid way. He weaves diverse approaches to the analysis of global production networks into an articulate synthesis of a rapidly evolving GPN literature. This book is a must read for all scholars and students examining the dynamics of global production, distribution and trade, and wider social and environmental implications. It provides crucial insights into contemporary global economic development.’ -- - Stephanie Barrientos, The University of Manchester, UK’Neil M. Coe’s Advanced Introduction provides all you need to know about global production networks in one place. Smartly organized, comprehensive but succinct, and easy to follow but precise, this is the perfect book for all those who want to know how the geography of global production is changing and why.’ -- - Stefano Ponte, Copenhagen Business School, DenmarkTable of ContentsContents: 1. Introduction 2. A global production network world? 3. Organization 4. Territoriality 5. Firm strategies 6. Institutional landscapes 7. Strategic coupling 8. Contested development 9. Futures References Index

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Book SynopsisThe Peoples Republic of China (PRC) diplomatic engagement with the Middle East spans multiple dimensions, including trade and investment, the energy sector, and military cooperation. Connecting China through the Suez Canal to the Mediterranean and Europe, the Middle East is a unique geostrategic location for Beijing, a critical source of energy resources, and an area of expanding economic ties. The Middle East geographical and political area is subject to different country inclusion interpretations that have changed over time and reflect complex and multifaceted circumstances involving conflict, religion, ethnicity, and language. China considers most Arab League member countries (as well as Israel, Turkey, and Iran) as representing the Middle East. The Ministry of Foreign Affairs and official Chinese publications refer to this region as Xiya beifei (West Asia and North Africa). China sees the Middle East as an intrinsic part of its Belt and Road Initiative (BRI), and has ramped up investment in the region accordingly, focusing on energy (including nuclear power), infrastructure construction, agriculture, and finance. This book uses the BRI as a framework for analyzing ChinaMiddle East relations, with special emphasis on the PRCs strategic partnerships via regional mutual interdependency in various sectors such as energy, infrastructure building, political ties, trade and investment, financial integration, people to people bonding, and defense. A stable Middle East region is vital for Chinas sustainable growth and continued prosperity. As the worlds largest oil consumer with an ambition to expand its economic and political influence, the Middle Easts geostrategic location and holder of most of the worlds known energy resources make it indispensable to the success of the Belt and Road Initiative.

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Book SynopsisHow can financial flows help the EU fulfil its mandate to promote economic, social and territorial cohesion, and solidarity among Member States enshrined in the EU Treaty? Dissecting the complexity of cohesion, this book examines the factors that matter most for the functioning of the Economic and Monetary Union and the convergence of Central, Eastern and Southeastern European (CESEE) countries. This insightful and timely book brings together central bankers, policy makers and academics to discuss how to best advance and fund the catching-up process of the euro area and CESEE countries. Focusing on a modern understanding of industrial policy - which fosters skills, innovation and infrastructure - contributors highlight how the EU's regional policy can better meet persistent investments needs. Critical and comprehensive, this book is crucial reading for researchers at all levels focusing on policy reform in emerging European economies. Central bankers and policy experts in public or international organizations will also benefit from this book's contemporary perspective on monetary and industrial policies.Trade Review'This volume draws the links between social cohesion within European countries and economic convergence to their best performing peers. It deals comprehensively with various dimensions of the catching-up process of middle-income countries in Europe. While the countries in Central, Eastern and Southeastern Europe (CESEE) survived the financial crisis reasonably better than the periphery of the euro area, both need to adjust to new external conditions. With this formidable challenge in mind, the authors present sophisticated appraisals of the central questions and provide incisive analyses of the policy implications for individual CESEE countries and for the euro area and its member states. This book is of great topical relevance and deserves to command a wide audience including both specialists and non-specialists.' --Pierre Moscovici, European Commission, Economic and Financial Affairs, Taxation and CustomsTable of ContentsContents: PART I Financing economic and social cohesion 1. Funding European solidarity Ewald Nowotny, Doris Ritzberger-Grünwald, Helene Schuberth 2. The role of the European Union in fostering convergence Benoît Cœuré PART II The role of monetary policy in catching-up 3. Monetary policy and catching-up in CESEE Anita Angelovska Bezhoska 4. Some considerations about the impact of monetary policy on economic convergence Mugur Isărescu 5. Nominal versus real convergence: Bulgaria’s practical approach toward euro adoption Dimitar Radev PART III Cohesion within and between countries 6. Strengthening economic convergence in Europe Jeffrey D. Sachs 7. Trust and cohesion in Europe: lessons from the Delian League Athanasios Orphanides PART IV The role of the EU budget 8. The next EU budget and the financing of cohesion policy Sándor Richter 9. Strengthening added value and sustainability-orientation in the EU budget Margit Schratzenstaller-Altzinger 10. EU budget: How to deliver more with less? The case for financial instruments Stéphane Saurel PART V Industrial policy and investment 11. Deindustrialization, job polarization and ageing in emerging Europe Ralph De Haas, Martin Höflmayr 12. Mind the gap: How does the flow of EU funds match structural investment gaps in CESEE? Tomáš Slačík 13. Improving host countries’ investment environment: Is the national supply side really the right focus? Andrew Watt Index

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Book SynopsisThis timely Handbook collates a range of evidence from top scholars in the field to help readers understand who microfinance reaches, how it helps, and why clients come back. It offers updated views on important concepts that enable a broader framework for understanding poverty and the corresponding financial needs of poor households.Chapters cover recent findings on social impacts, the role of gender, fairness of interest rates, financial resilience in emergencies, and financial education, to provide a thorough coverage of key areas of the field. The Handbook focuses on delivery mechanisms for financial services including group liability lending, agent banking, and digital finance, as well as the special role of value chain finance and insurance for smallholder agriculture.The case studies from both developed and developing countries and regions, illustrating the novel aspects of the link between microfinance, financial inclusion and development will make this a critical read for economics and development studies scholars. The practitioner views on the role of microfinance included in the Handbook will also make this a relevant and useful read for policy makers and practitioners in the areaTrade Review‘This is an outstanding collection of contributions from some of the most highly-respected researchers in the field of microfinance. It provides an excellent overview of the evidence on the success and limitations of microfinance and addresses important topics such as gender and finance, digital finance, and financial literacy. A must-read for anyone interested in microfinance.’ -- Niels Hermes, University of Groningen, the Netherlands‘An impressive collection of articles on many important aspects of microfinance; written by experts in the field and providing a unique and comprehensive overview of where microfinance stands in the 2020s.’ -- Thorsten Beck, European University Institute, ItalyTable of ContentsContents: PART I INTRODUCTION 1 Overview of microfinance, financial inclusion, and development 2 Robert Cull and Valentina Hartarska PART II CONCEPTUAL FRAMEWORKS FOR MICROFINANCE, FINANCIAL INCLUSION, AND DEVELOPMENT 2 Rethinking poverty, household finance, and microfinance 21 Jonathan Morduch 3 Assessment of microfinance institutions and their impact: evidence from a scientometric study 41 Begoña Gutiérrez-Nieto and Carlos Serrano-Cinca 4 Financial inclusion and gender 66 Isabelle Guérin 5 Toward a theory of fair interest rates on microcredit: balancing the needs of clients and institutions 83 Marek Hudon and Joakim Sandberg 6 Resilience in emergencies, savings, and credit 99 Saniya Ansar, Jake Hess, and Leora Klapper 7 When is financial education successful? Taking stock of the new wave of field evidence 119 Bilal Zia PART III DELIVERING FINANCIAL SERVICES TO CLIENTS 8 Group lending in theory and practice 135 Christian Ahlin and Godwin Debrah 9 Alternative delivery channels and impacts: agent banking 150 Sinja Buri, Robert Cull, and Xavier Giné 10 Digital financial inclusion and development 164 Greta Bull and Leora Klapper 11 Building inclusive value chains for smallholders: the role of finance 181 Alan de Brauw and Johan Swinnen 12 Index insurance for developing countries: a primer 194 Mario J. Miranda and Denis Nadolnyak PART IV VIEW FROM PRACTITIONERS AND FUNDERS 13 Measuring the evolution of client vulnerability: innovation at the BBVA Microfinance Foundation 212 Claudio Gonzalez-Vega, Laura Mo, and Giovanni di Placido 14 An investor’s perspective on measuring and managing social performance and impact 248 Gregor Dorfleitner, Dina Pons, and Noémie Renier PART V EVIDENCE FROM REGIONS AND COUNTRIES 15 Financial inclusion in high-income countries: gender gap or poverty trap? 272 Anastasia Cozarenco and Ariane Szafarz 16 Financial literacy and the use of financial services by US households 297 James R. Barth, Valentina Hartarska, Jitka Hilliard, and Nguyen Nguyen 17 Financial inclusion, microfinance, and financial education in Latin America 316 Alejandro Javier Micco Aguayo and Patricio Andrés Valenzuela Aros 18 Gender and financial inclusion in Latin America and the Caribbean 339 Victor Motta 19 Inclusive finance and agricultural development in Africa 357 Calum G. Turvey and Apurba Shee 20 Evaluating digital financial inclusion: a Kenyan perspective on morality and finance 383 Susan Johnson and Silvia Storchi 21 Inclusive finance and inclusive rural transformation in China 402 Calum G. Turvey 22 Does microfinance cause banking sector development and economic growth? An application to Mongolia 425 Batkhuyag Myagmar, Robert Lensink, and Wim Heijman 23 Financial inclusion and poverty: evidence from Armenia 449 Aleksandr Grigoryan, Knar Khachatryan, Knarik Ayvazyan, and Pundarik Mukhopadhaya Index 467

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Book SynopsisOffering a comprehensive guide to financial shocks and crises, this book explores their increasing occurrence in current market economies, as well as their power to wrench the macroeconomy. It discusses three critical questions: what causes financial shocks; which channels may exacerbate their impact; and what policies could help avoid them or limit their negative effect on the economy and society at large. Drawing together contributions from top scholars in the field, this Modern Guide addresses both the causes and consequences of financial instability after the Global Financial Crisis (GFC) at both micro and macro levels. Chapters conceptualise financial crises, highlight their main channels of transmission, and explore the role of public policies, looking at how to learn from past financial crises to prevent future ones. The book further examines why financial shocks will be a permanent trait in the future, and the potential impacts of market economics continuing to expand financialisation as they have done over recent decades. This Modern Guide will be a timely resource for economics students and scholars, particularly as it compares the impacts of the GFC and Covid-19 and explores why these are so different. It will also be an important read for policy makers seeking advice on how to manage and avoid financial crises.Table of ContentsContents: Preface ix PART I FINANCIAL INSTABILITY AFTER THE GLOBAL FINANCIAL CRISIS: TAXONOMY AND MODELS 1. The Global Financial Crisis 2 Vincenzo D’Apice and Giovanni Ferri 2. Minsky’s financial instability hypothesis 22 Maria Nikolaidi 3. Financial accelerator framework 45 Tommaso Oliviero and Giovanni W. Puopolo PART II MAIN CHANNELS OF TRANSMISSION OF THE FINANCIAL SHOCK 4. The role of the household balance sheets 66 Christophe André 5. The European network of cross-border lending 93 Ornella Ricci and Francesco Saverio Stentella Lopes 6. International banks and the transmission of financial shocks 111 Eugenio Cerutti and Haonan Zhou 7. The role of bank ownership types and business models 135 Giorgio Caselli 8. The role of market valuation in financial crises 159 Paola Bongini and Emanuele Rossi PART III THE ROLE OF PUBLIC POLICIES 9. Reflections on the shifting consensus about monetary and fiscal policies following the GFC and the COVID-19 crises 180 Alex Cukierman 10. Fiscal policy lessons since the Global Financial Crisis 199 Jérémie Cohen-Setton 11. The government as lender of last resort and temporary owner 212 Aneta Hryckiewicz 12. The sovereign-bank nexus 241 Giovanni Ferri and Valerio Pesic 13. Financial reforms 262 Alexandre Garel and Arthur Petit-Romec PART IV LEARNING FROM PAST FINANCIAL CRISES TO PREVENT FUTURE ONES 14. Looking back: a historical perspective on European crises 289 Elias Bengtsson 15. Looking ahead: early warning systems 314 E. Philip Davis and Dilruba Karim Index 349

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Book SynopsisThis timely book focuses on the upgrading of firms within the global garment industry, examining how garment manufacturers and retailers in different countries internationalize, develop their capabilities and enhance their sustainability. It highlights the important role the global garments industry plays in the socio-economic development and environmental outcomes of emerging economies.Drawing on firm-centric, multi-level analyses, the book addresses four key questions: how do apparel manufacturing companies in emerging economies internationalize? What factors promote or hinder internationalization? What influences the abilities of suppliers to develop different capabilities? How do firms achieve sustainability? Interdisciplinary contributions draw on a range of perspectives, including global value chains, international business, operations management, innovation, and sociology, to answer these questions. Providing novel insights to the topic, this book will help firms, researchers and national and multilateral organisations improve the competitiveness of suppliers, workers' well-being and environmental outcomes. It will be particularly useful to business economics and economic geography scholars.

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Book SynopsisThis Handbook collects a set of academic and accessible chapters to address three questions: What should real estate economists know about macroeconomics? What should macroeconomists know about real estate? What should readers know about the interaction between real estate and macroeconomics? Content is focused on four widely discussed themes: real estate-related wealth and macroeconomics, housing price dynamics and affordability, financial crises and structural change, and non-residential real estate. The chapter authors, active researchers from around the world, present evidence from various countries and datasets that are of interest to audiences across the globe, summarize insights from previous research and shed light on current issues.The Handbook of Real Estate and Macroeconomics assists researchers on the big picture as well as a hot spots in frontier research, and facilitates worldwide policy discussions and analysis for practitioners in financial markets, corporate economists, and policy analysts in governments and NGOs.Trade Review‘Housing is distinct among goods by virtue of its importance in expenditure and welfare, its durability, and its ability to locate and identify its consumer to others (including the government). As a result, the economics of housing is central to many literatures. These include the role of fluctuations in housing construction and prices in business cycles, housing’s impact on financial markets via its role as a store of value and easily collateralized good, and the treatment of housing as a basis for taxation and distribution of government services, especially government produced education. The papers in this Handbook volume span these topics as well as many others. While providing fresh results and insights, the papers also provide a terrific portal to researchers, especially graduate students, considering working in any of these areas.’ -- Mark Bils, University of Rochester, US‘This is an excellent resource for researchers, policymakers, and market practitioners interested in the economics of housing. The Editor, Professor Charles Leung, is a noted figure in the area. He has put together a superb collection of papers covering topics such as the affordability of housing, commercial real estate, and the financial crisis, among other things. The chapters discuss housing in various countries and provide some cross-country comparisons.’ -- Jeremy Greenwood, University of Pennsylvania, US‘An invaluable resource for those interested in one of the hottest areas in economics, the macroeconomics of real estate and household finance.’ -- Robert G. King, Boston University and NBER, US‘The mid-2000s Great Financial Crisis was a reminder to macroeconomists that models which omitted explicit analysis of the economy’s largest tangible asset, an asset that underpins large parts of the financial system, can miss much of what is happening outside the model, in the actual economy. On the flip side, the GFC reminded housing economists of the need to deepen understanding of spillovers from housing to the macroeconomy and financial markets, and other settings such as labor markets and environmental conditions. The SARS-CoV-2 pandemic has focused economists of every stripe on epidemiology and public health, but housing markets are also once again brought to the fore, as concerns mount about foreclosures, evictions, and distortions in rents and asset prices directly from the pandemic and less directly from the responses to it.Anyone seeking understanding of previous episodes, or looking for insight into the present, or the next crisis, will profit from repeated consultation with this Handbook. The volume gathers a distinguished group of scholars from around the world, and provides a state-of-the-art review of linkages between housing economics and the aggregate economy and its major constituent markets. Individual chapters provide reviews of the latest modeling tools as well as case studies, in a wide range of international settings, at different levels of income and urbanization. Highly recommended.’ -- Stephen Malpezzi, University of Wisconsin, Madison, US‘This book gathers a great collection of papers on real estate that contains valuable insights for both academics and practitioners.’ -- Sergio Rebelo, Northwestern University, USTable of ContentsContents: Introduction to the Handbook of Real Estate and Macroeconomics x Charles Ka Yui Leung PART I REAL ESTATE-RELATED WEALTH AND MACROECONOMICS 1 Real estate market and consumption: macro and micro evidence of Japan 2 Kazuo Ogawa 2 The Bank of Japan as a real estate tycoon: large-scale REIT purchases 21 Takahiro Hattori and Jiro Yoshida 3 Land and macroeconomics 39 Prasad Sankar Bhattacharya PART II HOUSING PRICE DYNAMICS AND AFFORDABILITY 4 Affordable housing conundrum in India 83 Piyush Tiwari and Jyoti Shukla 5 Residential location and education in the United States 106 Eric A. Hanushek and Kuzey Yilmaz 6 Testing for real estate bubbles 137 Eric Girardin and Roselyne Joyeux 7 Disaggregating house price dynamics 165 Rose Neng Lai and Robert A. Van Order 8 The effect of macroeconomic uncertainty on housing returns and volatility: evidence from US state-level data 206 Reneé van Eyden, Rangan Gupta, Christophe André and Xin Sheng PART III FINANCIAL CRISIS AND STRUCTURAL CHANGE 9 Financial crisis and the U.S. mortgage markets – a review 240 Sumit Agarwal and Sandeep Varshneya 10 Is housing still the business cycle? Perhaps not. 269 Richard K. Green 11 International macroeconomic aspect of housing 284 Joe Cho Yiu Ng 12 How did the asset markets change after the Global Financial Crisis? 312 Kuang-Liang Chang and Charles Ka Yui Leung PART IV NON-RESIDENTIAL REAL ESTATE 13 From the regional economy to the macroeconomy 338 Santiago M. Pinto and Pierre-Daniel G. Sarte 14 Industrial parks and urban growth: a political economy story in China 359 Matthew E. Kahn, Jianfeng Wu, Weizeng Sun and Siqi Zheng 15 Pension funds and private equity real estate: history, performance, pathologies, risks 371 Timothy J. Riddiough 16 A mayor’s perspective on tackling air pollution 413 Shihe Fu and V. Brian Viard Index 438

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Book SynopsisElgar Research Agendas outline the future of research in a given area. Leading scholars are given the space to explore their subject in provocative ways, and map out the potential directions of travel. They are relevant but also visionary.This timely Research Agenda provides a state-of-the-art review of existing research on manufacturing, as well as highlighting key areas of study to advance the field. Expert contributors from across the globe analyse the central role of manufacturing industries in the global economy, considering it as a multi-scalar process and assessing the impact of climate change in necessitating the decarbonization of production processes.Chapters identify and explore disruptive innovations in production technologies, including additive manufacturing, and their implications for future research. The book further highlights megatrends in automotive, electronics and emerging industries, including small and medium-sized manufacturing enterprises, Asian electronics production networks, global production networks, and operations and supply chain management. It develops a framework for accessing corporate elites and for guiding the process of undertaking qualitative semi-structured interviews.This Research Agenda will be a critical collection for economic geography, urban studies, city and regional planning, and business and management studies scholars seeking a forward-looking approach to the topic. It will also be useful to policymakers and practitioners working in regional economic development and planning.Table of ContentsContents: Dedication: Michael J. Taylor xv John R. Bryson Preface xix 1 Reframing manufacturing research: place, production, risk and theory 1 John R. Bryson, Chloe Billing, William Graves and Godfrey Yeung 2 Theoretical and methodological approaches to understanding emerging industries 33 Chloe Billing and John R. Bryson 3 Transforming manufacturing? An additive manufacturing research agenda 49 Jennifer Johns 4 Megatrends and new research agendas in the automotive industry 67 Godfrey Yeung 5 Getting the right skills in place for manufacturing: challenges and opportunities 91 Anne Green and Abigail Taylor 6 Addressing the evolution of clustering strategies in manufacturing: a policy research agenda 113 William Graves and Harrison S. Campbell, Jr 7 Going global in one location: exploring SME manufacturer internationalization motives at a trade fair 135 Ronald V. Kalafsky and Douglas R. Gress 8 The transformation of Asian electronics production networks: evidence from the participation of Vietnam 157 David Yuen Tung Chan and Chun Yang 9 How to increase the usefulness and relevance of operations and supply chain management research? 177 Donato Masi and Jan Godsell 10 Corporate interviewing and manufacturing companies: a framework to guide qualitative semi-structured interviews 193 John R. Bryson, Chloe Billing, Chantal Hales, Rachel Mulhall and Megan Ronayne 11 Reading manufacturing firms and new research agendas: scalar-plasticity, value/risk and the emergency of Jenga Capitalism 211 John R. Bryson Index

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Book SynopsisThis cutting-edge Handbook puts economic nationalism in its historical context, from early industrialization to globalization. It explores how economic nationalism has emerged to new prominence in the post-globalization era as states are trying to protect their economies, societies, and cultures from unwanted external influences. Drawing together contributors from a wide range of disciplines, the Handbook demonstrates the many ways in which nationalisms and national cultures affect and are affected by the economy, paying attention to the different contexts in which they emerge. Chapters consider key topics including economic nationalism and climate change, resource nationalism, economic nationalism in left-wing ideologies and far-right party discourse, and dimensions of economic nationalism in the US, Russia, India and Japan. Providing a comprehensive analysis of the historical, theoretical, and geographical dimensions of economic nationalism, this Handbook will be a key resource for scholars and students of political economy, international economics and the history of economic thought. Its use of case studies from a range of countries will also be beneficial for policy makers and practitioners in these fields.Table of ContentsContents: Introduction to the Handbook of Economic Nationalism xi Andreas Pickel PART I ECONOMIC NATIONALISM: HISTORICAL AND THEORETICAL PERSPECTIVES 1 Economic nationalism in historical perspective 2 Ivan T. Berend 2 The political geography of economic nationalism 14 Natalie Koch 3 Economic nationalism in the Anthropocene 29 Daniele Conversi 4 Climate crisis, systemic transformation, and the role of nationalism 45 Andreas Pickel 5 Nationalism in left-wing ideologies of political economy 65 Thomas Fetzer 6 Varieties of currency nationalization and denationalization 81 Zenonas Norkus 7 Economic patriotism: the transformation of economic governance in 21st century capitalism 100 Ben Clift PART II RESOURCE NATIONALISM 8 Resource nationalism: risks and rewards 123 Peter Rutland 9 Resource nationalism and economic indigenization in Africa 137 Stefan Andreasson 10 Resource nationalism: historical contributions from Latin America 154 Antulio Rosales 11 Food and economic nationalism 170 Atsuko Ichijo PART III DIMENSIONS OF ECONOMIC NATIONALISM IN EUROPE 12 European economic nationalism 188 Klaus Müller 13 Economic nationalism in far-right party discourse 222 Valentina Ausserladscheider 14 Illiberal conservative developmental statism 236 Katharina Bluhm and Mihai Varga 15 Financial nationalism and democracy 255 Dóra Piroska 16 Economic nationalism in Germany and Italy 274 Klaus Müller PART IV DIMENSIONS OF ECONOMIC NATIONALISM: US, RUSSIA, INDIA AND JAPAN 17 Ethno-racial dimensions of economic nationalism in the United States 298 Amílcar Antonio Barreto 18 Imagining Russia as a state-civilization: ethnocultural and geoeconomic dimensions 314 Andrei Tsygankov and Pavel Tsygankov 19 Economic nationalism in India 326 Surajit Mazumdar 20 Structural economic nationalism and migration in Japan 352 Nana Oishi and Akira Igarashi Index

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Book SynopsisThis insightful book offers a comprehensive analysis of how macroeconomics can steer development and reduce poverty. It untangles how developing countries can apply effective economic policies in spite of the challenges they face. With an aim to design a macroeconomic strategy which would provide a stable and long-term growth plan, Basil Oberholzer explores the multiple constraints which prevent developing countries from reducing poverty. The author reveals how countries' scope of action is strongly limited by international economic dynamics, including current account imbalances, capital flight, foreign debt accumulation, and exchange rate fluctuations. His detailed examination of how international payments take place within the current monetary structure also illuminates fundamental flaws that are harmful for developing countries. Applying a newly developed monetary macroeconomic model, Oberholzer suggests a reform of countries' international payments as a solution to these key problems. This book will prove to be a valuable resource for students and scholars of development economics and macroeconomics. Its analysis of how appropriate macroeconomic strategies can be established, pragmatic policy recommendations, and explanation of critical macroeconomic constraints will also be beneficial for policy-makers in progressive governments.Trade Review'This book provides an outstanding analysis explaining the major reasons of poverty and how to solve the latter in developing economies through relevant policy reforms. Oberholzer elaborates his analysis on macroeconomic grounds and offers a variety of tools that each developing country may implement successfully, independently of what other countries or institutions will do in this regard. The reader will be impressed by the depth, clarity and soundness of the author's investigation. Scholars and policy makers in development economics will find this book extremely useful.' -- Sergio Rossi, University of Fribourg, Switzerland'This is a fresh, clear and very relevant look at the macroeconomic issues and constraints faced by open developing economies. The proposal for international monetary reform that could address some of these problems is intriguing and will make you think.' -- Jayati Ghosh, Jawaharlal Nehru University, IndiaTable of ContentsContents: Introduction 1. Several Central Debates in Development Macroeconomics 2. Key Principles of Macroeconomics 3. Giving Space to the Public Sector 4. The Domestic Economy and the Rest of the World 5. A Reform to Remove the External Constraint 6. Macroeconomic Strategies to Guide the Economy Conclusion References Index

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Book SynopsisThis book addresses the problems of Latin America, through two of the most important features of the post-Bretton Woods economic order, large corporations and weak financial markets. In turn, it shows that their impact on economic growth and development is feeble and short-lived. This resulted in income concentration and an extremely unequal distribution of wealth in the region. As a result, large corporations and financial markets became central institutions in developing economies. In this context, Latin American countries globalized their economies, modifying their productive and financial structures and strengthening large corporation and non- financial structures.This economic order was a failure, as it was unable to achieve development in Latin America; large capital corporations either re-primarized their productive activity or developed an organization based on assembly manufacture, and, as such, financial markets remained underdeveloped because large corporations did not operate through domestic financial markets.In this book, the effects of these trends are analyzed in regional and country studies, while the impact of the 2008 Great Financial Crisis on Latin American economies are also considered.Researchers and students, especially those interested in a Post-Keynesian or heterodox view of the region, will find these studies illuminating.Trade Review‘This volume provides a useful collection of chapters on the overseas financing of corporates in different Latin American countries that is responsible for both instability and stagnation in the real sectors of these economies. The book, with its rich research material, provides useful input for future research, by academics as well as policy makers.’ -- Sunanda Sen, Review of Political Economy‘Cross-border capital movements and the operations of corporations have major effects on the economic and social paths of developing and emerging economies. This wide-ranging collection of insightful essays brings us knowledge and understanding of the many important dimensions by which globalised financialisation has dominated Latin American economies.’ -- Malcolm Sawyer, Emeritus Professor of Economics, University of Leeds, UKTable of ContentsContents: Introduction: the issues at stake 1 Noemi Levy-Orlik, Jorge Alonso Bustamante-Torres and Louis-Philippe Rochon PART I POST CRISIS NEW CAPITAL MOVEMENT TREND 1 Financial geography and the ‘social reality of finance’: aspatial or ‘real space’ analyses of financial crises? 9 Gary Dymski and Nicole Cerpa Vielma 2 The transmission mechanism of financial crisis to developing countries: why the ‘global financial crisis’ wasn’t global 24 Jan Toporowski 3 Foreign direct investment, inequality, and macroeconomic stability on the eve of the COVID-19 crisis 38 Hanna Szymborska 4 Pension funds and domestic debt markets in emerging economies 55 Jennifer Churchill, Bruno Bonizzi and Annina Kaltenbrunner 5 The distribution of dividends of multinational banks operating in Latin America 72 Mimoza Shabani 6 The unique development of non-financial corporations in Latin America 89 Noemi Levy-Orlik and Jorge Alonso Bustamante-Torres PART II NON-FINANCIAL CORPORATIONS AND ECONOMIC GROWTH 7 Capital flows, the role of non-financial corporations and their macroeconomic implications: an analysis of the case of Chile 107 Esteban Pérez-Caldentey and Nicole Favreau-Negront 8 Foreign direct investment in the Mexican steel industry 120 Samuel Ortiz-Velásquez 9 Excess international liquidity and corporate financing in Mexico: reflections from USA monetary policy of quantitative easing 140 Ximena Echenique-Romero 10 Foreign direct investment in Latin America: effects on growth and development, 1996‒2017 158 Marcelo Varela-Enríquez and Gustavo Adrián Salazar PART III CAPITAL MOVEMENT AND ECONOMIC PATTERNS 11 Latin American international integration and global value chains: what changed after the 2008 global financial crisis 175 Juan Pablo Painceira and Alexis Saludjian 12 From “downpour of investments” to debt crisis: the case of Argentina 2015‒2019 193 Cecilia Allami, Pablo Bortz and Alan Cibils 13 The hegemony of big corporations and the internationalization of capital: a stagnation model with restricted democracy 204 Gonzalo Cómbita-Mora and Álvaro Martín Moreno-Rivas 14 Extractive capitalism: transnational miners and Andean peasants in Peru 222 Alejandro Garay-Huamán Index

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Book SynopsisThis volume presents thirteen chapters prepared by senior researchers and former policy makers on key policy issues confronting China and the West. They focus on the role of the state in economic development, trade issues and the part played by innovation, digitalization and leadership.In a challenging and rapidly changing world, the book aims to provide not only authoritative analyses and perspectives, but to stimulate further thinking and debates about the common future. Each chapter is in the form of a short policy brief.China and the West is aimed for policy makers, business leaders, academics and students.Trade Review'A timely and thought-provoking evaluation of the key policy dilemmas in China and the West. This edited volume, with contributions from leading academics, advances our understanding of topics as diverse as ''murky'' protection, sustainability, artificial intelligence, and local government evaluation.' -- Saul Estrin, London School of Economics, UKTable of ContentsContents: 1 Introduction 1 Jan Svejnar and Justin Yifu Lin PART I RECENT POLICIES AND PERFORMANCE 2 Path to prosperity: China’s transition to market economy in the last four decades 5 Justin Yifu Lin 3 China’s performance and prospects in the world economy 14 Jan Svejnar 4 The role of the state in economic growth 20 Jacob Lew 5 Reflections on the global financial crisis: a comparison of US and China policies 29 Frank Song 6 Policies for structural reform in China: domestic rebalancing for strong sustainable and inclusive growth within and beyond China 39 Ehtisham Ahmad, Isabella Neuweg, Nicholas Stern and Chunping Xie PART II TRADE, TENSIONS AND DIVISION OF LABOR 7 The potential for cooperation and competition in international trade: recent trade growth and driving factors – a perspective on current global trade tensions 60 Robert Koopman 8 Overview of China–US Economic Disputes in 2018 69 Feng Lu 9 The metabolic nature of changing world order 93 Ping Chen 10 India and China in the context of rising trade tensions in the global economy 112 Arvind Panagariya PART III DIGITALIZATION AND LEADERSHIP 11 The role of innovation and the digital economy: new opportunities and challenges for Chinese, US and European economic policy 120 Edmund Phelps 12 The digitalisation of Europe’s economy 125 Debora Revoltella, Philipp Brutscher and Tessa Bending 13 Prospects for China’s drive for innovation: From the perspective of demographics 135 Jianzhang Liang 14 Evaluation of local leaders in China 148 Chong-En Bai and Eric Maskin Index

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Book SynopsisThe Research Handbook of Financial Markets carefully discusses the histories and current states of the most important financial markets and institutions, as well as explicitly underscoring open questions that need study. By describing the institutional structure of different markets and highlighting recent changes within them, it accurately highlights their evolving nature. Taking the perspective that finance and macroeconomics are intertwined, this illuminating Research Handbook brings together prominent experts to investigate key market interactions. Chapters act as self-contained case studies of particular markets, allowing for a thorough individual examination of each. Ultimately, they offer a holistic understanding of financial markets and the current state of research. Academics and researchers in economics and finance curious about developments within financial regulation and banking will find this comprehensive Handbook to be hugely valuable. Market participants will additionally find it to be a useful reference, along with regulators seeking to mitigate financial instability.Trade Review‘Refet Gürkaynak and Jonathan Wright put together a comprehensive and thorough collection of chapters written by the best professionals. It is a gem and must-read for anybody who wants to take a deep dive into understanding the nuts and bolts of central banking, financial intermediaries, money, capital and derivatives markets.’ -- Eric Ghysels, University of North Carolina at Chapel Hill, US‘This book provides a comprehensive guide to modern financial markets and institutions, including historical context as well as the macroeconomic role of each element of the system. In clarity, rigor and depth, it far surpasses any previous efforts to explain how the international financial system actually works.’ -- Kenneth S. Rogoff, Harvard University, US‘Over the past decade, central banks have conducted monetary policy by intervening heavily in financial markets through a flurry of unconventional measures. This book brings together the wisdom from researchers with innate knowledge of the inner workings of financial markets. A must read for all those interested in how financial markets will evolve as central banks will unwind unconventional policies in the years to come.’ -- Luc Laeven, Director General, Research Department, European Central BankTable of ContentsContents: Introduction to the Research Handbook of Financial Markets 1 Refet S. Gürkaynak and Jonathan H. Wright PART I CENTRAL BANKING 1 The Federal Reserve balance sheet 6 Kristopher Dawsey, William B. English and Brian Sack 2 The balance sheet of the Eurosystem 33 Oreste Tristani 3 The Bank of Japan’s balance sheet 56 Kosuke Aoki 4 Central bank lending 79 Brian Madigan and William Nelson 5 The workings of liquidity lines between central banks 102 Saleem Bahaj and Ricardo Reis PART II INTERMEDIARIES 6 Banks 126 Refet S. Gürkaynak, Jonathan H. Wright and Egon Zakrajšek 7 Non-bank financial intermediaries and financial stability 147 Sirio Aramonte, Andreas Schrimpf and Hyun Song Shin 8 Government agencies: Fannie Mae and Freddie Mac 171 Gillian Burgess, Wayne Passmore and Shane M. Sherlund 9 Money market funds 194 Antoine Bouveret, Antoine Martin and Patrick E. McCabe PART III MONEY MARKETS 10 The federal funds market, pre- and post-2008 220 Eric T. Swanson 11 The repo market 237 Benjamin Munyan 12 The foreign exchange market 253 Alain Chaboud, Dagfinn Rime and Vladyslav Sushko PART IV CAPITAL MARKETS 13 The Treasury and when-issued markets 277 J. Benson Durham and Roberto Perli 14 The municipal bond market 301 Daniel Bergstresser 15 Mortgage-backed securities 331 Andreas Fuster, David Lucca and James Vickery 16 Equity trading 358 Caroline Fohlin 17 Sovereign debt 378 Leonardo Martinez, Francisco Roch, Francisco Roldán and Jeromin Zettelmeyer PART V DERIVATIVE MARKETS 18 Interest rate swaps 407 Bin Wei and Vivian Z. Yue 19 Credit default swaps 429 Antulio N. Bomfim 20 Foreign exchange swaps and cross-currency swaps 451 Angelo Ranaldo 21 Inflation hedging products 470 Stefania D’Amico and Thomas B. King 22 Futures and options 490 Refet S. Gürkaynak and Jonathan H. Wright Index 509

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Book SynopsisBeginning with the 2008 global crisis in the United States, and particularly after the COVID-19 pandemic shook economies around the world, academics, practitioners, and other experts have become increasingly sensitised to the potential for financial and economic fragility to result in a systemic breakdown. Presenting a synopsis of lessons learnt from financial crises arising out of the 19th, 20th and 21st centuries, each entry examines a unique past issue to help to develop future outcomes, operating as a touchstone for further research.This Encyclopedia is vital for those who wish to learn from the past in preparation for economic turbulence ahead. With wide coverage of causes, events and outcomes, it offers an insightful sample of financial crises in various regions and times throughout modern history.This authoritative work will be incredibly useful for students and scholars of finance management, policy and economics.Key Features: Over 100 entries written by experts in the field International scope with entries on financial crises around the world, covering six continents A plethora of entries on terms and phenomena to better understand the financial crisis history and literature Trade Review‘The literature on financial crises is as rich and dramatic as financial crises themselves. Scholars of the subject – specialists and neophytes alike – are lucky to now have definitive introductions to its various aspects all in one place. We are indebted to Sara Hsu and colleagues for providing this essential reference.’ -- Barry Eichengreen, University of California, Berkeley, US‘The Elgar Encyclopedia of Financial Crises, edited by Professor Sara Hsu is a fascinating “little shop of horrors” of financial mismanagement, poor judgement, and greed gone wild from Finland to the Philippines and just about everywhere in between. Written by knowledgeable scholars from around the globe, this authoritative Encyclopedia should be the “go to” source for students, scholars and policy makers who want to understand the amazing variety of financial follies perpetrated over the decades in places near and far.’ -- Gerald Epstein, University of Massachusetts Amherst, USTable of ContentsContents: Preface xii 1 2002 Uruguay banking crisis 1 Simone Selva 2 2008 Financial Crisis in the US 7 Sara Hsu and Brandon Dupont 3 A Classical-Keynesian approach to financial crises 11 Carlo Panico 4 A financial crisis as a form of VUCA (volatile, uncertain, complex, and ambiguous situation) 17 Tiia Vissak 5 A modern Greek tragedy: the crises of 2009–2015 21 Animesh Ghoshal 6 Argentina’s 1989 crisis 26 Hernán Eduardo Neyra and Andrés Ernesto Ferrari Haines 7 Asian financial crisis 31 Andrew Sheng 8 Assessing reserve management during economic crises: lessons from Indonesia and Nigeria 35 Phyllis Papadavid 9 Austrian School monetary explanation for the business cycle 43 Cameron M. Weber 10 Bank and corporate balance sheet vulnerabilities and currency crises 48 Manuel Duarte Rocha and Roberto Accioly Perrelli 11 Belgium’s crises in the pre-World War I era 51 Gertjan Verdickt 12 Bolivia—debt accumulation in the 1970s, hyperinflation in the 1980s 54 Gabriel Martinez 13 Canada and the global financial crisis 58 Ian Roberge 14 Canada’s asset-backed commercial paper crisis 62 Ian Roberge 15 Central banks 65 Nicolás Varela García 16 Changes in commodity prices as the factor triggering financial crises 70 Marek Dabrowski 17 Chile: the 1973 economic crisis and the military coup 76 Juan M. Padín 18 Chile’s 1981–83 crisis 78 Gabriel Martinez 19 Colombia during the financial crisis of the 1980s 84 Carlos Eduardo Hernández and Edwin López-Rivera 20 Colombia during the financial crisis of the late 1990s 88 Carlos Eduardo Hernández and Edwin López-Rivera 21 Colombia during the Great Depression 92 Carlos Eduardo Hernández and Edwin López-Rivera 22 Crisis prevention and resolution 95 Sara Hsu 23 Definition of banking crisis 98 Ali Ari 24 Determinants of banking crises 101 Ali Ari 25 Discovering business opportunities emerging from financial crises 105 Tiia Vissak 26 Early warning systems (EWS) of currency crises 108 Manuel Duarte Rocha and Roberto Accioly Perrelli 27 Ecuador’s 1999 triple financial crisis 111 Gabriel Martinez 28 Egypt’s currency and financial crisis 118 Simon Neaime and Isabelle Gaysset 29 Factors determining public debt sustainability 121 Marek Dabrowski 30 Financial crises and financial regulation: what relationship? 127 Lyubov Klapkiv and Faruk Ülgen 31 Financial crises in Spain after Bretton Woods: 1977 and 2008 crises 136 Concha Betrán and María A. Pons 32 Financial crises in the Ottoman Empire 141 Akif Berber 33 Financial crises in Turkey 146 Ali Ari 34 Financial crises, their forms, interrelations between them, and crises’ origins 151 Marek Dabrowski 35 Financial liberalization, the capital surge, and the 1994–1995 peso crisis 155 Juan Carlos Moreno-Brid and Joaquín Sánchez Gómez 36 Financial stability in the insurance sector: the case of the American International Group, AIG 157 Lyubov Klapkiv and Faruk Ülgen 37 Firms’ ways to deal with financial crises 162 Tiia Vissak 38 Fiscal policy and financial instability 165 John Lodewijks 39 Global capital flows and financial instability 168 John Lodewijks 40 Global imbalances and global recession 171 Ensar Yõlmaz 41 Global pandemic and stock market volatility of Asia-Pacific countries 176 Naji Mansour Nomran and Razali Haron 42 Great crises of the twentieth and twenty-first centuries: a Schumpeterian perspective 181 Faruk Ülgen and Lyubov Klapkiv 43 Hyman Minsky (1919–1996) 189 Brenda Spotton Visano 44 IMF and World Bank remedies for financial instability 191 John Lodewijks 45 Income inequality before the Great Depression and Global Recession 194 Ensar Yõlmaz 46 India’s balance of payments crises 199 Animesh Ghoshal 47 Inequality created by active monetary policy 204 Cameron M. Weber 48 Inflation 209 Nicolás Varela García 49 International banking regulation 214 Martina Metzger 50 Italy and the 1992 crisis of the European Monetary System 219 Roberto Di Quirico 51 Italy and the Eurozone crisis 222 Roberto Di Quirico 52 John Maynard Keynes (1883–1946) 226 Brenda Spotton Visano 53 Joseph Alois Schumpeter (1883–1950) 230 Brenda Spotton Visano 54 Lebanon’s perfect storm 232 Simon Neaime and Isabelle Gaysset 55 Liability dollarization 236 Gabriel Martinez 56 London and the exchange-rate crisis of 1931 240 Christopher Godden 57 London and the financial crisis of 1914 244 Christopher Godden Malaysian crisis 1985 248 Simone Selva 59 Marxian crisis theory 251 Deb Das 60 Monetary policy and financial stability in Africa during COVID-19 253 Phyllis Papadavid and Dirk Willem te Velde 61 Panic of 1857 256 William V. Rapp 62 Panic of 1907 260 William V. Rapp 63 Philippines banking crisis of 1981 264 Simone Selva 64 Portuguese banking crisis of 1876 267 Rita Martins de Sousa 65 Portuguese financial crisis of 1890/91 270 Rita Martins de Sousa 66 Recoveries from financial crises 275 Peter H. Bent 67 Southeast Asian crisis from a currency perspective 280 Martina Metzger 68 Spain’s crises in the interwar period: the Great Depression 284 Concha Betrán and María A. Pons 69 Spain’s crises in the second half of the nineteenth century (gold standard system) 289 Concha Betrán and María A. Pons 70 Systemic risk and credit risk 294 Victor A. Beker 71 Thailand 1997: the spark that started the fire 296 Gabriel Martinez 72 The 1893 bank crisis 303 Brandon Dupont 73 The 1931 banking crisis in Italy 307 Roberto Di Quirico 74 The 1935 Italian currency crisis 311 Roberto Di Quirico 75 The 1967 Indonesian banking crisis 314 Agusman Agusman 76 The 1997–1998 Korean financial crisis 317 Seung Jung Lee 77 The 1997–1998 financial crisis in Japan 320 Hiromichi Iwaki 78 The 1997/1998 Indonesian banking crisis 326 Agusman Agusman 79 The 1998 Russian debt crisis 330 Peter C. Earle 80 The 2001 Argentina financial crisis 332 Hernán Eduardo Neyra and Andrés Ernesto Ferrari Haines 81 The 2007 financial crisis in the United Kingdom 340 Seung Jung Lee 82 The 2008–2009 international financial crisis: influenza or minor cold in Mexico? 343 Juan Carlos Moreno-Brid and Joaquín Sánchez Gómez 83 The 2008/2009 financial crisis in Brazil 346 Rafael F. Schiozer and Paulo R. S. Terra 84 The Argentinean financial and debt crisis of 2019 351 Juan Santarcángelo 85 The banking crisis in Norway 1987–1993 354 Ola Honningdal Grytten 86 The Brazilian banking crisis of 1994/95 360 Rafael F. Schiozer and Paulo R. S. Terra 87 The Brazilian currency crisis of 1999 363 Rafael F. Schiozer and Paulo R. S. Terra 88 The Covid-19 crisis in Mexico (2020 …) 368 Juan Carlo Moreno-Brid and Joaquín Sánchez Gómez 89 The Credit-Anstalt crisis of 1931 372 Aurel Schubert 90 The debt crisis in Latin America in the 1980s 376 Juan Santarcángelo 91 The developing country debt crisis of the 1980s 379 Harald Sander 92 The Euro Crisis 383 Harald Sander 93 The financial crisis in Japan in the 1920s 389 Hiromichi Iwaki 94 The Finnish banking crisis of the 1930s 394 Karlo Kauko 95 The Finnish banking crisis of the 1990s 397 Karlo Kauko 96 The Great Depression in Norway 402 Ola Honningdal Grytten 97 The Great Depression in the United States 406 Charles Bartlett 98 The Icelandic banking crisis of 2008 413 Karlo Kauko 99 The impacts of financial crises on firms’ exports 417 Tiia Vissak 100 The Irish financial crisis of 2007–2010 420 Aurel Schubert 101 The lost decade and the 1982 debt crisis in Mexico 424 Juan Carlos Moreno-Brid and Joaquín Sánchez Gómez 102 The Norwegian monetary crisis in the mid-1920s 426 Ola Honningdal Grytten 103 The “odious” route to a sovereign debt crisis in the Democratic Republic of Congo 431 Mohit Arora 104 The period of the 1930s in the Portuguese economy 436 Rita Martins de Sousa 105 The post-war depression in Norway in the early 1920s 440 Ola Honningdal Grytten 106 The special period in Cuba 444 Peter C. Earle 107 The US savings and loan crisis 446 James R. Barth, Yanfei Sun and Min Gu 108 Tobin Tax and capital controls 452 John Lodewijks 109 Too big to fail 455 Victor A. Beker 110 Tulip mania 1637 and other crises in the Netherlands 458 Simone Selva 111 US financial crises and growing federal oversight of banking 463 James R. Barth and Stephen Matteo Miller Index 473

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Book SynopsisThis original book examines how investment theory and regulatory constraints are linked to the professional processes of portfolio investments, and how the principles of Islam as defined by sharia fit into these processes. It also explores the measures required to create and grow a global Islamic asset management industry.Established on a foundation of Modern Portfolio Theory, the book extends the theory to include asset management based on sharia. Chapters also consider how ethical investing is quickly becoming the driving force of the $100 trillion asset management industry. Taking a practical approach, John A. Sandwick, M. Kabir Hassan and Pablo Collazzo compare conventional and sharia portfolio performance and risk through measurement tools commonly used in asset management, including Sharpe ratio, standard deviation, Value at Risk, annualized mean return, and correlation. They map conventional portfolio construction and optimization, then reproduce the same processes with real-world, sharia-compliant portfolios.This book will be critical reading for scholars and students of Islamic economics and finance, Islamic studies, and financial regulation. Considering Islamic asset management as a unique function of Islamic finance, this book will also be a useful resource for practitioners and finance professionals.Trade Review’It is a timely guide to further contribute to this heavily debated claim that Islamic investments perform better in adverse economic situations. This is an excellent book as a guide on performance of Islamic finance investments versus conventional portfolios and fills the gaps on performance of Islamic asset management in the real markets. It is an excellent reference for scholars, practitioners and researchers in Islamic finance markets.’- Shamsher Mohamad, International Centre for Education in Islamic Finance, MalaysiaTable of ContentsContents: Foreword by Zeti Aziz Preface Introduction to A Guide to Islamic Asset Management 1. Literature review, research gap, industry and theoretical summaries 2. Research design and finding data 3. Results, relevance and limitations 4. Empirical analysis, research design and methodology 5. Discussion of findings 6. Implications for theory and practice 7. Limitations, and future research Annex: survey questions for major asset management banks References Index

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Book SynopsisThis timely book presents an in-depth investigation of who benefits from European financial market regulatory measures and how decision-makers and stakeholders are held politically and administratively accountable. The extensive study illustrates the full range of the actors involved in key regulatory processes such as the regulation of high-frequency trading and the activities of central-clearing counterparties.Chapters outline how politicians, regulators and market players are linked in various political and administrative accountability mechanisms. Providing analysis of how the accountability channels are linked to policy content, contributors ask whether specific regulatory objectives and results give rise to the mobilising of accountability mechanisms. Regulating Finance in Europe critically examines the implementation of major EU legislative packages in financial regulation (MiFID II and CMU), offering a unique empirical insight into how different modes of accountability in financial market regulation are linked with different policy effects.This comprehensive yet accessible book will be an invaluable read for politicians and practitioners working in finance as well as academics in EU politics and policies. It will also provide a useful resource for undergraduate and postgraduate students of political science, law and economics.Trade Review‘This book will be of great interest to scholars examining European financial sector governance from legal, sociological, and political science perspectives. The authors have crafted a lucid, insightful, and convincing analysis of procedural and substantive accountability channels and mechanisms in European financial sector governance. They further shed light on who controls decision-making and whether sufficiently robust accountability channels and mechanisms have been put in place in key areas of European securities regulation, such as the governance of high-frequency trading (HFT), central counterparties (CCPs) under the European Market Infrastructure Regulation (EMIR), the Markets in Financial Instruments Directive (MiFID) II, over the counter (OTC) derivatives, and Fintech.’ -- Aneta Spendzharova, Maastricht University, the Netherlands‘This book is a remarkable exploration of present-day European financial markets. It addresses crucial questions about how regulators, policymakers and financial organizations are held accountable through various “accountability mechanisms”. Adrienne Héritier, Johannes Karremans and colleagues insightfully open the black box of European financial markets to reveal their activities and regulatory dynamics to the wider public. This book is an important work for everyone who is interested in the democratic governance of modern-day finance and its algorithmic/quantitative complexities.’ -- Andrea Lagna, Loughborough University, UKTable of ContentsContents: Preface ix Acknowledgments xi List of abbreviations xii 1 Introduction: Regulating finance in Europe: policy effects and political accountability 1 Adrienne Héritier and Johannes Karremans 2 Accountability mechanisms in the governance of high-frequency trading under MiFID II 16 Johannes Karremans and Magnus G. Schoeller 3 Policy effects and accountability: unbundling research and execution under MiFiD II 38 Promitheas Peridis and Adrienne Héritier 4 Critical infrastructure (CCPs): political accountability and the policy effects of EMIR 71 Agnieszka Smoleńska and Adrienne Héritier 5 Fighting for Fintech: competition, regulation and accountability in a Europe of financial innovation 101 Joseph Ganderson 6 Benchmark administrators as gatekeepers: accountability and policy effects 126 Agnieszka Smoleńska and Promitheas Peridis 7 The “quiet politics” of hybrid accountability mechanisms: watering down regulation through expertise? 155 Johannes Karremans 8 Conclusion: procedural and substantive accountability in European financial regulation 176 Johannes Karremans and Adrienne Héritier Index

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Book SynopsisTourism in the Mediterranean Sea: An Italian Perspective is the product of a collaborative group of experts in the field of tourism. Academics, whose research focuses on regional tourism system governance, alongside several experts from the tourism sector, contributed to the volume with distinct issues related to the tourism industry. The growth of the Mediterranean Seas tourism system relates to the issue of tourist destination, brand protection, and public communication. The purpose of this book is to define a method of governance to improve regional and territorial tourism policies and to redesign tourist supply of the tourist destination with the goal of social and economic growth of the Mediterranean area. Tourism is rebuilding a vision associated with paths, visits to villages, heritage, tradition, and typical food and wine. Moreover, travellers will also tend to choose the tourist destinations that offer health guarantees. This book, with an innovative and cross-disciplinary approach, is well suited to public decision-makers, university students, and sector experts to build a model of tourism that is able to understand the new opportunities that come from national and international markets in the Mediterranean area.Table of ContentsChapter 1 Tourism for All: Economic Opportunities and Territorial Constraints for Sustainable Development; Carmen BizzarriChapter 2. Archaeological Research, Dissemination of Knowledge, and Touristic Valorization in a Multi-Layered City: The Example of Taormina, Sicily; Lorenzo Campagna Chapter 3. The Role of Sustainability for the Tourism Recovery in Italy; Federico Massimo Ceschin and Carmen Bizzarri Chapter 4. A New Sustainable Way ... Together: The Ancient Routes in Sicily; Davide Comunale and Fabrizio Ferreri Chapter 5. Religious Tourism and Sustainability: From Devotion to Spiritual Experience; Alessandro Cugini Chapter 6. Place Awareness and Community Tourism: The Case of Sambuca di Sicilia; Fabrizio Ferreri Chapter 7. Tourism Competitiveness in Mediterranean Countries: A Quantitative Approach; Romana Gargano Chapter 8. Consuming Gastronomy While Traveling: What Do Tourist Want? Roberta Garibaldi, Matthew J. Stone, and Andrea Pozzi Chapter 9. Tourism Planning and Resilience Strategies in Inner Areas: Communities in Action in the Madonie Area; Maurizio Giannone Chapter 10. Tourism, Economic Growth and Sustainability in the Mediterranean Region; Filippo Grasso and Daniele Schilirò Chapter 11. Responsibility and Sustainability in International Hotel Chains; Graziano Hermann Chapter 12. Sustainable Accommodation in a Fragile Tourist Destination: The Matera Case; Nicolaia Iaffaldano, Sonia Ferrari, and Giovanni Padula Chapter 13. For a Responsible, Sustainable and Inclusive Tourism; Bernadette Lo Bianco Chapter 14. Roots Tourism: Opportunities for the Territories Deriving from Identity Journeys of Italian Emigrants; Tiziana Nicotera Chapter 15. Eco-Sustainable Routes and Religious Tourism: An Opportunity for Local Development. The Case Study of Sicilian Routes; Giuseppe Notarstefano and Susanna Gristina Chapter 16. Transport and Tourism Relationship; Francesca Pellegrino Chapter 17. Connecting Locals and Visitors: The Case of Street Food; Manuela Pilato, Marco Platania, and Seraphin Hugues Chapter 18. Tourism, Transport and Sustainability; Francesca Pellegrino Chapter 19. The Economic Resilience of the Urban Destination in Sicily (Italy); Platania Marco Chapter 20. Italy's Island Systems: Competitiveness in the Mediterranean Context; Giovanni Ruggieri and Patrizia Calò

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Book SynopsisForeign Exchange Constraint and Developing Economies addresses the complex nature of foreign exchange constraint for macroeconomic and social development. The book collects expertise and perspectives from a diverse set of contributions. Using a combination of innovative theoretical and empirical approaches, the book suggests several analytical frameworks to help advance academic research and policy work on foreign exchange and sustainable development.Chapters explore how trends in exchange rates, currency dynamics and international capital markets impact development models of primarily small open economies. The problems of global capital flows affected by the COVID-19 pandemic are also reviewed. The book presents analyses of both country-level and regional patterns and discusses broader implications for emerging markets. Exploring urgent questions for academic and policy agendas, this will be an important read for economists and researchers working on the topics of economic development, international economics, open economy, exchange rate management, sovereign debt, central banking, and monetary policy. Applied economists and policymakers will also find this a meaningful resource.Trade Review‘Most emerging and developing economies face a persistent foreign exchange gap. Holding foreign exchange reserves, even in large amounts, does not eradicate the gap that essentially produces persistently foreign exchange constrained economies. This book is a very helpful collection of chapters that elucidates the various manifestations for the foreign exchange constraint. It covers a wide number of important topics such as capital flows, foreign debt, exchange rate policy, the role of MNCs, financial crisis, and others. The collection will be very helpful to researchers and policymakers.’ -- Tarron Khemraj, New College of Florida, US‘With the Ukraine crisis fueling inflation, rising interest rates and soaring debt-burdens, this timely volume brings together diverse approaches spanning theoretical models, empirical investigations, and policy analyses to address the challenges posed by volatile capital flows, deteriorating exchange-rates and the impact of COVID-19 to EMDCs in a world in flux.’ -- Ramaa Vasudevan, Colorado State University, US‘The chapters in Professor Gevorkyan’s edited book are a reminder that the external constraint is essentially a foreign exchange one, and that the post-Bretton Woods institutions are ill designed to help developing countries cope with the volatility of international capital flows. This is a timely and relevant collection of papers that should be required reading for all the experts in international financial issues.’ -- Matías Vernengo, Bucknell University, Pennsylvania, US‘After more than 2 decades of work in developing countries, realizing the many ways conventional modern macroeconomics education misses the main challenges that are actually faced by their policymakers, I am delighted to see the relevant topics for growth and macroeconomic stability in developing economies make a comeback. Aleksandr Gevorkyan and the authors that joined him in this fine treatment of the issues need to be congratulated and encouraged to continue deepening this most-relevant research and policy analysis program.’ -- João Farinha Fernandes, Asian Development BankTable of ContentsForeword by Barry Eichengreen Preface and acknowledgements PART I: CAPITAL MARKETS 1. Foreign exchange constraint and select developing economies: insights from the Caucasus and Central Asia Aleksandr V. Gevorkyan 2. Domestic sovereign yields puzzle in 2020: falling yields amid a large fiscal shock in emerging markets Hayk Avetisyan, Viacheslav Ilin, and Dmitry Yakovlev 3. Wealth composition, valuation effect and upstream capital flows Uthman M. Baqais 4. Non-financial corporations as financial intermediaries and their macroeconomic implications: an empirical analysis for Latin America Claudia de Camino, Esteban Pérez Caldentey and Cecilia Vera PART II: CURRENCY AND EXCHANGE RATE 5. Currency relationships over time: a network analysis and case study of Mexico Georgia Bush, Serafin Martínez-Jaramillo, Luis O. L. Escobar-Farfán and Erwin Flores-Tamés 6. On the limits of real exchange-rate targeting under foreign exchange constraint Eduardo F. Bastian 7. Optimal foreign exchange reserves in small open economies: the case of the Caribbean Dave Seerattan 8. Two sides of a currency crisis in emerging economies: economic and behavioural side of currency risk derivatives Elżbieta Kubińska, Joanna Wyrobek, Łukasz Faryj and Anna Macko 9. Real exchange rate, demand growth and labour productivity: a growth model of cumulative and circular causation Hugo C. Iasco-Pereira, Fabrício J. Missio, Frederico G. Jayme Jr and Douglas Alencar PART III: COVID-19 AND OPEN ECONOMY 10. Capital flows and emerging market economies since the global financial crisis Otaviano Canuto 11. The Lebanese banking crisis: an exploration of the impaired banking system Samar Issa Index

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Book SynopsisEmerging markets are increasingly facing significant challenges, from a slowdown in productivity, rising debt, and trade tensions to the adverse effects of proliferating global uncertainty on domestic financial systems. This incisive Handbook examines the ongoing dynamics of global financial markets and institutions within the context of such rising uncertainty and provides a comprehensive overview of innovative models in banking and finance.Chapters investigate the implications of the COVID-19 pandemic on health and economic activities, as well as other global factors such as geopolitical shifts, digital transformation, and climate change. This expansive range of perspectives demonstrates how emerging market policymakers have been forced to rethink their banking and financial industries to spur sustainable and inclusive growth. Global in scope, the Handbook features contributions from more than 70 experts, offering key insights into new developments in banking and finance, and considering how emerging markets might overcome the pandemic, shape the new normal, and foster economic sustainability.This ambitious Handbook will be an essential read for regulators and policy analysts who will benefit from its innovative perspectives on advancing governance of banking and finance sectors in emerging markets. Its exploration of forthcoming directions for research will be of special interest to academics and research scholars in related fields.Trade Review‘Duc Khuong Nguyen offers a multifaceted collection of research on emerging markets that is a must-read for scholars and investors alike. It is one of the most comprehensive books on emerging markets finance and will impress the readers with its fresh perspectives.’ -- Rose Liao, Rutgers University, US‘It was ample time this Handbook was made available to professional investors and financial actors in emerging markets. Congratulations to Duc Khuong Nguyen for gathering such an expert crowd to help us navigate the new emerging world: post global financial crisis, post Covid, post China and BRICS take off, but also aligned with the sustainable development goals and the climate agenda. This is the compass we needed to sail the ocean ahead of us!’ -- Bertrand Badré, Blue like an Orange Sustainable Capital, FranceTable of ContentsContents: Preface xxviii PART I FINANCIAL MARKETS, INSTITUTIONS AND MONEY 1 Booms, bubbles, blow-outs: exploring patterns in China’s credit expansion 2 Ron McIver, Lei Xu and Shiao-Lan Chou 2 Mutual fund investing in the Chinese A-share market 32 Yeguang Chi and Xiao Qiao 3 Liquidity and ex-dividend behavior in emerging markets 51 Daniel Dupuis 4 Asset-based valuation: a modified discounted cash flow approach 70 Rafael Yanushevsky, Daniel Yanushevsky and Camilla Yanushevsky 5 Financial integration in Asia: some empirical evidence 83 An Thi Thuy Duong and Clemens Kool 6 Application of the neural F-Score in Latin American stock markets 104 Lidia Loban, Cristina Ortiz and Luis Vicente 7 Market-liquidity risk modeling and reinforcement machine learning algorithms under extreme market outlooks: applications to emerging markets 115 Mazin A.M. Al Janabi 8 The components of bid–ask spread on the Warsaw Stock Exchange 131 Paweł Miłobędzki and Sabina Nowak PART II BANKING PROFITABILITY, EFFICIENCY AND STABILITY 9 Bank profitability in the euro area: the asymmetric effect of common supervision 153 Ioanna Avgeri, Yiannis Dendramis and Helen Louri 10 The journey of a thousand miles: a decade of the impact of foreign shareholders on the performance of Chinese commercial banks 176 Constantin Gurdgiev and Li Jiaqi 11 The determinants of commercial banks’ profitability in the South-Eastern Europe region: a system GMM approach 200 Francesco Guidi 12 Determinants of commercial banks’ performance in Mozambique 218 Antonio Samagaio, Pedro Verga Matos and Isidora Manjate 13 Impact of information and communication technology on banking efficiency: the Vietnamese experience 238 Thanh Ngo and Tu Le 14 Competition, efficiency and stability in Islamic and conventional banking systems: an emerging market perspective 254 Md. Nurul Kabir and Andrew C. Worthington 15 Central bank independence, macroprudential policies and financial stability in the Mauritian context 274 Manisha Chuttoor, Dinesh Ramdhony and Boopen Seetanah PART III TOWARDS FINANCIAL RESILIENCE AND SUSTAINABILITY 16 Sustainable investing in emerging markets 298 Andreas Gruener 17 ESG issues in emerging markets and the role of banks 321 Thankom Arun, Claudia Girardone and Stefano Piser. 18 Corporate social responsibility disclosure and cost efficiency of Islamic banks: evidence from GCC countries 345 Anas Mohammad Hussein Al-Jbour, Lei Xu, Damien Wallace and Guodong Yuan 19 Credit risk management and practices in Islamic and conventional banks: an emerging market perspective 366 Mahfod Aldoseri and Andrew C. Worthington 20 Stakes and challenges in the development of impact investing in emerging markets: the case of Asia 378 Emmanuelle Dubocage and Evelyne Rousselet 21 Consumer financial spinning and market stress factors in emerging markets 394 Olivier Mesly 22 Analyst coverage of emerging market IPOs and legal environment 419 Romain Boissin PART IV INNOVATIVE MODELS IN BANKING AND FINANCE 23 The role of BigTech in emerging markets 433 Silvio Andrae 24 The digital revolution in financial services: new business models and talent challenges 464 Sylvie St-Onge, Michel Magnan and Catherine Vincent 25 Ethics and trust on Fintech platforms from an emerging markets perspective 479 Oliver Vasquez and Leire San-Jose 26 Challenges and opportunities for crowdfunding in emerging markets: an ethical perspective 492 Johan Bouglet, Ghislaine Garmilis and Olivier Joffre 27 Rationalizing the Takaful organizational form with institutional theory 506 Maryam Alhalboni, Muhammed Shahid Ebrahim and Wahyu Jatmiko 28 Artificial intelligence in an emerging portfolio manager: the case of Evovest 523 Sylvie St-Onge, Catherine Vincent and Michel Magnan PART V EMERGING TRENDS 29 Emerging green finance hubs in Asia: regulatory initiatives for ESG investing and green bond development by the Four Tigers 539 Artie W. Ng 30 Enhancing sustainability reporting and greening the finance system: institutionalization and practices in China’s banking sector 553 Shidi Dong, Lei Xu and Ron McIver 31 Cross-border banking in EMDEs: trends, scale, and policy implications 573 Erik Feyen, Norbert Fiess, Ata Can Bertay and Igor Zuccardi Huertas 32 The Swiss banking experience and lessons learned for emerging markets: the roles of digitalization and sustainability 597 Carlo Raimondo and Patrick Coggi 33 Financial development of CEE markets and the evolving role of foreign-owned multinational banks 619 Victoria Geyfman 34 Key rate pass-through to deposit rates: experience from the pandemic era 634 Henry Penikas 35 Inflation targeting and fiscal discipline in selected emerging economies 651 Milojko Arsić, Zorica Mladenović and Aleksandra Nojković PART VI NEW PERSPECTIVES 36 The role of financial surveys for economic research and policy making in emerging markets 676 Sof.a Gallardo and Carlos Madeira 37 Emerging regions in the era of negative real interest rates: twenty years of convergence towards the US? 687 Max Gillman 38 The Indonesian banking sector during the COVID-19 pandemic 710 Sahminan Sahminan 39 Bank finance and alternative instruments in capital-intensive sectors: the case of global shipping 731 Theodore Syriopoulos 40 The Russian financial sector: opportunities in an unstable environment and sanctions 763 Vasily Tkachev, Vadim Grishchenko and Karl Summanen 41 Conflict, contention and cooperation in China’s new model of financial intermediation monitoring 793 W. Travis Selmier II Index 811

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Book Synopsis2019 marked the 40th anniversary of the publication of Anthony P. Thirlwall's classic paper that laid out what became known as Thirlwall''s law. This article introduced and provided empirical evidence in favor of the proposition that the long-run rate of growth of an economy compatible with balance-of-payments equilibrium can be approximated by the simple rule of the ratio of the growth of exports to the income elasticity of demand for imports.Thirlwall's law provides a theoretical underpinning for several of the arguments traditionally espoused by the heterodox followers of Keynes. In addition, Thirlwall's law can also be viewed as a guide to policy-making. It has spurred a rich research agenda at both the theoretical and empirical levels. Theoretically the core model has been extended to include the different components of the current account of the balance of payments. Empirically, it has withstood the test of time and has been corroborated, with perhaps a few exceptions, for a variety of developed and developing countries under different historical contexts and different periods of time.This re-release of the special issue of the Review of Keynesian Economics brings together experts and researchers to present the latest developments and debates on Thirlwall's law. Students, economists and policy makers will find this volume enlightening.Table of ContentsContents: Symposium: Thirlwall’s Law at 40 Thirlwall’s law at 40 1 Esteban Pérez Caldentey and Matías Vernengo Why Thirlwall’s law is not a tautology: more on the debate over the law 3 J.S.L. McCombie Endogenous growth, capital accumulation and Thirlwall’s dynamics: the case of Latin America 18 Ignacio Perrotini-Hernández and Juan Alberto Vázquez-Muñoz Thirlwall’s law and the terms of trade: a parsimonious extension of the balance-of-payments-constrained growth model 37 Esteban Pérez Caldentey and Juan Carlos Moreno-Brid Thirlwall’s law, external debt sustainability, and the balance-ofpayments- constrained level and growth rates of output 60 Gustavo Bhering, Franklin Serrano and Fabio Freitas Growth transitions and the balance-of-payments constraint 72 Excellent Mhlongo and Kevin S. Nell New Structuralism and the balance-of-payments constraint 91 Gabriel Porcile and Giuliano Toshiro Yajima Is Indonesia’s growth rate balance-of-payments-constrained? A timevarying estimation approach 111 Jesus Felipe, Matteo Lanzafame and Gemma Estrada Thoughts on balance-of-payments-constrained growth after 40 years 128 A.P. Thirlwall

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Book SynopsisProviding an authoritative yet accessible introduction to the Asian Development Bank (ADB), this comprehensive Companion offers a detailed examination of the ADB’s objectives, policies, development outcomes, strengths and weaknesses, areas for reform, and challenges going forward.M. G.Quibria and Albab Akanda’s enlightening Companion is a significant addition to the literature on the ADB, delivering in-depth assessments of its operations to date and succinctly summarising its future priorities. Chapters provide state-of-the-art contributions from leading scholars on various themes such as the ADB’s approach to an increasingly multipolar world, the role of the ADB in supporting developing member countries, agricultural transformation in developing Asia and the challenges and opportunities represented by megacities in developing Asia. Crucially, the Companion advances the sound knowledge of the ADB’s history, its current methods of operation and its position in the global economy.This stimulating and forward-looking Companion will be essential reading for students, scholars and academics interested in Asian development, international economic development and international relations. It will also be a vital resource for international policymakers, diplomats, practitioners and think tank staff.Trade Review‘I strongly recommend this book for anyone interested in Asian development and, in particular, the ADB. It provides an authoritative yet accessible introduction to the ADB—its objectives, policies, development outcomes, strengths, weaknesses, areas for reforms, and challenges going forward including state-of-the-art reviews of current debates on various ADB-related issues in the context of ongoing deliberations on development assistance, international political economy, and good governance.’ -- Jere R. Behrman, University of Pennsylvania, US‘It was once thought that the mandate of the ADB was to reduce poverty. Since the Asian Miracle reduced poverty, did it reduce the need for the ADB? The establishment of the Asian Infrastructure Investment Bank, “One Belt One Road” initiative, and enormous demand for infrastructure investment, among other things, have completely changed the economic and political milieu facing the ADB. This book covers many topics of interest for all of us who are concerned with the present state and future of Asia and the ADB.’ -- Keijiro Otsuka, Kobe University, Japan‘The Elgar Companion to the Asian Development Bank is a comprehensive guide that delves into the history, achievements, challenges, and prospects of the Asian Development Bank (ADB). Distinguished scholars and experts explore various dimensions of the ADB's role in the Asia-Pacific region, including its response to a changing world, its support for member countries' development, its contributions to economic and social progress, and its recommendations for reforms. The book provides a critical assessment of the ADB's strengths and weaknesses within the global economic landscape. It is an essential resource for those interested in Asian development, international economic development, and international relations.’ -- Arvind Panagariya, Columbia University, US‘This book on the Asian Development Bank (ADB) is a welcome compendium of treatises and reflections crafted by former professional senior officials coming from Asia.’ -- Ernesto Pernia, University of the Philippines, Philippines‘The Asian Development Bank is the premier international development finance institution for the Asia-Pacific region. It recently celebrated its first 50 years by commissioning both an official history and an authoritative examination of these countries’ socio-economic development. This Companion by retired senior officials of the Bank provides further rich insights into this fascinating and diverse region.’ -- Hal Hill, Australian National University, AustraliaTable of ContentsContents Preface xii Acknowledgments xv 1 Asian Development Bank and the Belt and Road Initiative: challenges and opportunities 1 Xianbai Ji and Pradumna B. Rana 2 The Asian Infrastructure Investment Bank: a complement or a substitute for the Asian Development Bank? 11 M. G. Quibria 3 Organizing the Asian Development Bank: challenges and opportunities in an increasingly multipolar world 21 Stephen P. Groff 4 Improving professional expertise: key to enhancing the Asian Development Bank’s development effectiveness 33 Cedric Saldanha 5 Economic research at Asian Development Bank: a retrospective 43 Ramesh B. Adhikari 6 Averting economic crisis in developing Asia through economic surveillance: the role of the Asian Development Bank 56 Juzhong Zhuang 7 Climate disasters in Asia and the Pacific: the role of the Asian Development Bank in mitigation and adaptation 66 Vinod Thomas 8 Post-pandemic developing Asia: an agenda for the Asian Development Bank 78 Shiladitya Chatterjee 9 Symbiosis of trade and regional cooperation in Asia and the Pacific: the role of the Asian Development Bank 91 Douglas H. Brooks 10 The role of the Asian Development Bank in fostering regional integration through cross-border transport connectivity 101 Jayant Menon 11 Assessing the role of mega infrastructure initiatives and the Asian Development Bank in financing Asian infrastructure 116 Ganeshan Wignaraja and Marco Gatti 12 From governance to performance in Asia-Pacific 131 Clay G. Wescott 13 Poverty in developing Asia and the Asian Development Bank 144 Mohiuddin Alamgir 14 Agricultural transformation and food security in developing Asia: past successes, present challenges, and future policy options 157 M. G. Quibria 15 Megacities in developing Asia: challenges and opportunities 167 Syed Abu Hasnath 16 Environmental and social impact assessment: revisiting the theme 177 Armando Balloffet and Albab Akanda 17 The Asian Development Bank’s accountability mechanism: shifts in the accountability landscape 187 Suresh Nanwani 18 The Asian Development Bank’s environment program: challenges and directions 199 Prodipto Ghosh 19 The evolution of the Asian Development Bank’s relations with civil society 213 Bart W. Édes 20 Improving the Asian Development Bank’s education sector service delivery 226 William Loxley 21 Advancing gender equality and women’s empowerment in Asia beyond the Covid-19 pandemic – challenges and opportunities for the Asian Development Bank 236 Eugenia McGill 22 The Asian Development Bank’s energy sector operations in the twenty-first century 249 Dan Millison 23 The private sector challenge for the Asian Development Bank: some reflections 263 K. A. S. Murshid 24 Promoting ICT in developing Asia: the road ahead 275 Raja M. Mitra 25 The Asian Development Bank and the Pacific Islands 288 Xianbin Yao

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Book SynopsisAsia has shown the world what success in economic development looks like. From the amazing transformations of Japan, the Republic of Korea, and the other ‘tigers’ in the early 70s, to the more recent takeoffs of the People’s Republic of China (PRC), India, and the leading economies in Southeast Asia, the region has prospered at a startling pace. Technologies were adopted, productivity raised, and export markets conquered. Billions were lifted out of poverty. What was once a backwater is now a global engine of growth.That roaring progress was, however, fueled by a lesser-known factor: borrowing. Governments, corporations, and households financed their path to prosperity with debt—lots of debt. Today, the volume of debt hanging over Asian economies is huge, in both absolute and relative terms. It was growing fast before the pandemic and is projected to grow even faster because of it. Demography is bound to make matters worse in the long term. How sustainable is this? What should policy makers do to keep Asia’s finances stable? Should markets worry? These are the core questions of this book. Through a collection of chapters by renowned experts, a diagnosis of Asia’s debt accumulation is offered. The approach is both country- and issue-driven, so both idiosyncratic and common elements can be identified. Matters like Japan’s social insurance promises, the PRC’s state-owned enterprises, the Pacific islands’ aid dependency, and the saving habits of households in the Republic of Korea are dissected. As are trends that are present across countries, such as population aging, shrinking fiscal space, and contingent liabilities. This allows for a deeper understanding of what makes borrowing sustainable—or not. And it leads directly into policy recommendations, especially those involving the use of new financial instruments.The final product is a book whose comprehensiveness and practicality are unprecedented in the field. It will be equally invaluable for governments, investors, and scholars in Asia and beyond.Trade Review‘This is an important book, for at least three very different reasons. First, it provides an excellent, and very recent, analysis of debt accumulation in a region whose financial stability matters to the entire world. Second, it explains in an easy-to-understand way the role that borrowing has in the behavior of governments, corporations, and households. And, third, it introduces the reader to new and powerful financial instruments that can benefit not just lenders and borrowers but society as a whole. A must read.’ -- Allan Rosenbaum, Florida International University, US and President of the American Society for Public AdministrationTable of ContentsContents: Foreword by Yasuyuki Sawada ix Overview and synthesis 1 Benno Ferrarini, Marcelo M. Giugale, and Juan J. Pradelli PART I A DIAGNOSIS OF ASIA’S DEBT 1 Debt in Asia: anatomy, evolution, and prospects 31 Juan Pablo Paladino and Juan J. Pradelli 2 Japan’s public debt sustainability before and after COVID-19 66 Jérémie Cohen-Setton and Keita Oikawa 3 People’s Republic of China: features and recent evolution of corporate debt 87 Ninghua Zhong and Mi Xie 4 Asia’s lower-income countries: concessional public debt, concessional rescues 108 Nicolas Depetris-Chauvin 5 Pacific Islands’ debt: financing post-COVID-19 recovery amid precarious sustainability 136 Roland Rajah and Alexandre Dayant 6 Subnational debt: developing a sustainable market 167 Lili Liu 7 Asia’s corporate debt: assessing its role in financial vulnerability 188 Hernán D. Seoane 8 Household debt: supply-driven sugar rushes 214 Maria Teresa Punzi PART II THE RISKS BEHIND ASIA’S DEBT 9 Fiscal uncertainty: the thankless task of forecasting Asia’s fiscal accounts 239 Ugo Panizza 10 Fiscal space: Asia’s fiscal safety net has shrunk 269 Andrea F. Presbitero 11 Contingent liabilities: monitoring exposures that are difficult to measure 299 Timothy C. Irwin 12 Debt generators: the case of energy subsidies 317 Klaus Enders 13 Population aging and debt 342 Sang-Hyop Lee, Andrew Mason, and Donghyun Park PART III WHAT NEXT? POLICIES TO KEEP ASIA’S DEBT SUSTAINABLE 14 Debt management capacity: a tale of three Asias 367 Phillip Anderson 15 Fiscal insurance: a new tool of fiscal stability 389 Luis de la Plaza 16 Thematic bonds to diversify fiscal sources 409 Farah Imrana Hussain Index 426

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Book SynopsisElgar Research Agendas outline the future of research in a given area. Leading scholars are given the space to explore their subject in provocative ways, and map out the potential directions of travel. They are relevant but also visionary.With contributions from an international range of experts, this cutting-edge Research Agenda collates the most important and emerging research in the field to map out the new directions and promising paths ahead for the international political economy (IPE).Probing the most promising lines of research on the crucial inter-connections of globalization and socioeconomic inequality, the book opens with an investigation into our understanding of how externally generated financial, health, and migration crises affect political economic systems worldwide. Chapters explore fundamental changes in the nature of IPE, including those driven by technology, power transitions, the geography of trade, new foreign aid channels, and economic espionage. Rethinking the future research agenda for IPE, the book concludes by challenging the underlying ideas and perspectives that shape the thinking and scholarship of the field.Countering the deep-rooted western, white-male orientation of traditional IPE research with the alternative perspectives of decolonial and feminist ecological thinkers, this innovative Research Agenda will prove invaluable to students, scholars and policymakers concerned with the future of the international political economy.Trade Review‘How can international political economy scholarship contribute to solving the existential challenges confronting humanity? This critically important question is the focus of the contributions in this ambitious volume. Pursuing the proposed research agenda will do much to revitalize and redirect IPE research to provide pertinent answers.’ -- Bernard Hoekman, European University Institute, Italy‘The timing of this book could not be better. There has been much debate recently about “gaps” in the agenda of international political economy. Deese and his colleagues deliver an excellent survey of key emerging areas of research that can be expected to help shape IPE scholarship in coming years.’ -- Benjamin J. Cohen, University of California, Santa Barbara, USTable of ContentsContents: Preface ix PART I INTRODUCTION Introduction to A Research Agenda for International Political Economy: New Directions & Promising Paths 3 David A. Deese PART II HOW AND WHY GLOBALIZATION INTERCONNECTS WITH SOCIO-ECONOMIC INEQUALITY WITHIN STATES 1 Globalization and income inequality 21 Eunyoung Ha 2 Away from the Global North: new directions in the politics of trade 39 Ida Bastiaens and Evgeny Postnikov 3 Turning out or turning away: international political economy effects on political participation 53 Celeste Beesley and Ida Bastiaens PART III IPE IN A CRISIS-DRIVEN WORLD: MITIGATING AND MANAGING EXTERNALLY INDUCED CRISES 4 International political economy and the study of financial crises 71 Puspa D. Amri 5 The political economy of One Health: implications for crisis governance research 89 John Connolly 6 Migration management and international political economy 103 Nicholas R. Micinski PART IV IPE IN TRANSITION 7 Geotech: converging technology, markets, and politics in international political economy 119 Mark Abdollahian and Zining Yang 8 From Chimerica to decoupling: US-China trade war and failed neoliberalism 141 Wei Liang 9 Cyber economic espionage: a framework for future research 159 William Akoto 10 Technology and the new geography of trade politics 171 Gary Winslett 11 The political economy of local aid: a new research agenda 183 Emily Scott PART V RESETTING THE IPE RESEARCH AGENDA 12 Feminist theory in international political economy 201 Corinna Dengler and Hanna Völkle 13 Decolonizing labor, land, and the Global South 215 Aaron Schneider Index

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Book SynopsisThis comprehensive Companion analyses the relevance of the OECD as a transnational policy maker, idea broker and standard setter. Bringing together diverse disciplines and methodologies, it establishes the influence of the OECD on modern understandings of governance.Through scholarly reviews and original empirical analyses, this Companion covers the evolution and structure of the OECD, its role in transnational policy making and its domestic impact. It consolidates work from disciplines including economics, social policy, history, international relations and legal studies to critically analyse the concepts, methods and tools of governance in global policy making. Contributors explore the comparative impact of the OECD in developed and developing countries, the OECD’s work in various policy sectors and emerging issues on the OECD’s agenda such as governance reform, cyber-security and sustainability. Ultimately, the Companion advances inter-disciplinary knowledge of the OECD’s methods of governance and position in global politics.Providing in-depth insight on the structure and impact of the OECD, The Elgar Companion to the OECD will be an authoritative and original reference text for scholars and students of global governance, international relations, political economy and public policy. It will also be essential reading for practitioners seeking to better understand modern global governance and public policy.Trade Review‘The Elgar Companion to the OECD provides a comprehensive scholarly overview of one of our most important, yet relatively understudied, international organisations. The editors, De Francesco and Radaelli, have provided us with a great public good in assembling a stellar cast of contributors to discuss various dimensions of the OECD’s work and politics. This includes the organisation’s claims to expertise, its relationship to other international organisations, how it conducts peer review and fosters benchmarking, and how it draws on a network of regulators. The contributors also provide a range of policy-focused chapters, including on education, environment and taxation, among others. To identify not only how policies are made but received, the book provides a range of cases on the reception of OECD ideas, frames and policies. It also identifies emerging issues, such as cybersecurity and the SDGs, that will prompt the OECD to adapt further. This is an excellent contribution for all those interested in international organisations, the crafting of economic policy and key mechanisms of change in the international political economy.’ -- Leonard Seabrooke, Copenhagen Business School, Denmark, and Norwegian Institute of International Affairs, Norway‘The OECD represents one of the most policy-consequential and therefore frequently studied international organisations. Yet the scholarly debate on its policy consequences has been fragmented. With this masterfully edited volume, Fabrizio De Francesco and Claudio Radaelli make an important step forward in integrating the different literatures and producing accumulative knowledge.’ -- Jale Tosun, Heidelberg University, GermanyTable of ContentsContents: 1 Introduction to the Elgar Companion to the OECD 1 Fabrizio De Francesco and Claudio M. Radaelli PART I DISCIPLINES 2 The historical transformations of the OECD 9 Matthieu Leimgruber and Matthias Schmelzer 3 International political economy 23 Alice Chessé and Amy Verdun 4 Corporate consensus and the OECD’s human rights mechanism 37 Stefanie Khoury and David Whyte 5 The politics of the OECD 50 Magdaléna Hadjiisky 6 Public management 67 Denita Cepiku and Marco Amici PART II MECHANISMS AND TOOLS OF GOVERNANCE 7 The OECD as an international bureaucracy 81 Martin Marcussen and Jarle Trondal 8 The OECD in the ecosystem of international organization 95 Diane Stone 9 Peer reviews 105 Thomas Conzelmann 10 Indicators and benchmarking 116 Matthias Kranke 11 The network of economic regulators 126 Francesca Pia Vantaggiato PART III POLICY SECTORS 12 Development assistance and cooperation 137 Joren Verschaeve 13 Education 146 Sotiria Grek and Bob Lingard 14 Environment 154 Markku Lehtonen 15 Regulation 166 Fabrizio De Francesco and Claudio M. Radaelli 16 International taxation 173 Fayçal Ait Abdellouhab and Claudio M. Radaelli 17 Economic policy 184 George Papaconstantinou PART IV THE IMPACT ON DOMESTIC POLICIES 18 Australia: Varieties of policy impacts 198 Peter Carroll 19 Mexico: From the diffusion of ideas to the making of policy changes 208 Fabiola Perales-Fernández and Mauricio I. Dussauge-Laguna 20 Brazil: Cooperation, policy transfer and resistance 220 Osmany Porto de Oliveira 21 Kazakhstan: In search of international legitimacy 231 Colin Knox and Saltanat Janenova PART V EMERGING ISSUES 22 Public governance 245 Leslie A. Pal 23 Good governance 255 B. Guy Peters 24 Cyber security 265 Anthony J. S. Craig 25 Sustainable development 278 Ulrike Zeigermann Index

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Book SynopsisCommodities are basic goods used in commerce and are most often used as inputs in the production of other semi-finished or finished materials. They are very important products in our lives today and constitute non-negligible sources of income for many countries. This book serves as a guide to the marketing of these goods and provides scholars and commodity market participants with useful concepts, tools and guidelines to better organize and operate commodities exchanges.Issouf Soumaré explains in detail commodities exchanges, from conceptualization of the exchange to its operationalization. He describes the architecture of a typical commodities exchange, looking at its trading and clearing functions, the warehouse receipt system and the regulatory framework. The book also presents practices of commodities exchanges around the world and discusses commodity products and instruments traded on these exchanges, their pricing and usage. This book is very useful and timely, as many emerging countries are setting up commodities exchanges.Academics interested in commodities and their marketing as well as industry professionals such as commodity traders, commodity exporters, risk managers, clearing officers, market makers, commodity producers, agricultural cooperatives, commodity processors, bankers, warehouse operators, and regulators will find this a useful reference.Trade Review‘This is an important and timely book. Many developing countries are establishing commodity exchanges and there are high hopes on using these market structures to improve the efficiency of the agricultural markets. This book provides a very comprehensive view of the question of commodity markets – across the world and across time. It is a valuable addition to the literature and policy makers, academics and students will discover a wealth of knowledge and information in this great book.’ -- Yaw Nyarko, New York University, New York City, USTable of ContentsContents: Preface PART I COMMODITIES MARKETS 1. Commodities: definition, classification and markets 2. Renewable commodities 3. Non-renewable commodities PART II COMMODITIES EXCHANGE: ECOSYSTEM AND ORGANIZATION 4. Commodities exchanges around the world 5. Economic value of commodities exchanges 6. Commodities exchange architecture 7. Warehouse receipt system, commodity storage and product quality control 8. Stakeholders and key participants in a commodities exchange PART III COMMODITIES EXCHANGE: MARKETS, INSTRUMENTS AND FINANCING MECHANISMS 9. Commodity spot and physical markets 10. Commodity forward and futures markets 11. Commodity derivatives markets 12. Financing mechanisms for the agricultural sector and sovereign funds PART IV COMMODITIES EXCHANGE: CLEARING, RISK MANAGEMENT, GOVERNANCE AND REGULATION 13. Clearing house and central counterparty (CCP) 14. Risk management 15. Governance and regulatory issues 16. Useful guidelines for a successful commodities exchange Index

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Book Synopsis'Monetary policy is not just a matter of optimal stabilization policy; it is also fundamentally a matter of politics. But while this observation is commonplace, it is not adequately incorporated into economists' reasoning and analysis. Gerald Epstein's work represents perhaps the most prominent exception to this last rule. Reading him provides a salutary reminder that we need to pay closer attention to this political aspect when thinking about central banks and what they do.' - Barry Eichengreen, University of California, Berkeley, US Central banks are among the most powerful government economic institutions in the world. This volume explores the economic and political contours of the struggle for influence over the policies of central banks such as the Federal Reserve, and the implications of this struggle for economic performance and the distribution of wealth and power in society. Written over several decades by Gerald Epstein and co-authors, these works explore why central banks do what they do, and how they could better operate. Epstein shows that central banks are a contested terrain over which major economic and political groups fight for control; and demonstrates that though in the US and most other countries, private bankers have the upper-hand in this political struggle, they don t always win. Graduate students, faculty and advanced undergraduates in economics, political science and sociology who are interested in central banking and finance as well as specialists who focus on central banking will find greater understanding of central banks through The Political Economy of Central Banking.Trade Review'For decades Jerry Epstein has been shattering myths around central banking and forcing us to think differently about this institution. This invaluable collection brings together his path breaking work on the subject. A careful reading of the book makes it impossible to sustain the argument that central banks stand above politics and that they have served the public good through a single minded focus on inflation. The book arrives at precisely the right time, i.e., when we desperately need new ideas about how to remake our economic institutions so that they work for all.' --Ilene Grabel, University of Denver, US and author of When Things Don't Fall Apart: Global Financial Governance and Developmental Finance in an Age of Productive Incoherence'Central Bankers, and the Federal Reserve in particular, has been portrayed as a group of technocrats working to serve in the public interest. Through insightful analytical and empirical analyses, Jerry Epstein shows that in reality the Fed can act like a Wizard of Oz. Epstein's hard work pulls back the curtain for us all to see how Central Banking really works, and proposes concrete reform regarding how it can be the engine of an economy that promotes stability, growth and prosperity.' --Kevin P. Gallagher, Boston University, US'Professor Gerald Epstein has been a pioneer in extending political and class conflict considerations to the analysis of central banks and monetary policy. With regard to macroeconomics, he was one of the first to introduce the critical distinction between industrial and financial capital. With regard to monetary policy, he has been a leader in framing central banking as a politically contested space. That frame makes a mockery of mainstream claims that central banks can be politically neutral. Instead, they are riddled with the preferences and beliefs of those in control. This collection of his papers is both a tribute to Professor Epstein and an essential reference.' --Thomas Palley, independent economistTable of ContentsContents: Introduction Gerald Epstein PART I FINANCE, MACROECONOMIC POLICY AND CENTRAL BANKING: FROM VOLCKER TO TRUMP 1 ‘Domestic Stagflation and Monetary Policy: The Federal Reserve and the Hidden Election’, in Thomas Ferguson and Joel Rogers (eds), The Hidden Election: Politics and Economics in the 1980 Presidential Campaign , New York, NY, USA: Pantheon Books, 1981, 141–95 2 ‘Federal Reserve Behavior and the Limits of Monetary Policy in the Current Economic Crisis’, in Robert Cherry, Christine D’Onofrio, Cigdem Kurdas, Thomas R. Michl, Fred Moseley and Michele I. Naples (eds), The Imperiled Economy: Book I: Macroeconomics from a Left Perspective , Chapter 23, New York, NY, USA: The Union for Radical Political Economics, 1987, 247–55, references 3 ‘Trumponomics: Should We Just Say “No”?’, Challenge , 60 (2), 2017, 104–21 PART II CAPITALISTS, WORKERS AND WALL STREET: THE FIGHT FOR THE FEDERAL RESERVE 4 ‘Federal Reserve Politics and Monetary Instability’, in Alan Stone and Edward J. Harpham (eds), The Political Economy of Public Policy , Chapter 9, Beverly Hills, CA, USA: Sage Publications, 1982, 211–40 5 ‘The Federal Reserve–Treasury Accord and the Construction of the Postwar Monetary Regime in the United States’, with Juliet B. Schor, Social Concept , 7 (1), July, 1995, 7–48 6 ‘Monetary Policy, Loan Liquidation, and Industrial Conflict: The Federal Reserve and the Open Market Operations of 1932’, with Thomas Ferguson, Journal of Economic History , XLIV (4), December, 1984, 957–83 7 ‘Corporate Profitability as a Determinant of Restrictive Monetary Policy: Estimates for the Postwar United States’, with Juliet B. Schor, in Thomas Mayer (ed.), The Political Economy of American Monetary Policy , Chapter 4, New York, NY, USA: Cambridge University Press, 1990, 51–63 PART III THE POLITICAL ECONOMY OF CENTRAL BANKING: ANALYTICAL AND EMPIRICAL PERSPECTIVES 8 ‘Contested Terrain’, in Louis-Philippe Rochon and Sergio Rossi (eds), The Encyclopedia of Central Banking , Cheltenham, UK and Northampton, MA, USA: Edward Elgar Publishing Ltd, 2015, 105–7 9 ‘Macropolicy in the Rise and Fall of the Golden Age’, with Juliet B. Schor, in Stephen A. Marglin and Juliet B. Schor (eds), The Golden Age of Capitalism: Reinterpreting the Postwar Experience , Chapter 3, Oxford, UK: Clarendon Press, 1990, 126–52, references 10 ‘Political Economy and Comparative Central Banking’, Review of Radical Political Economics , 24 (1), March, 1992, 1–30 11 ‘A Political Economy Model of Comparative Central Banking’, in Gary Dymski and Robert Pollin (eds), New Perspectives in Monetary Macroeconomics: Explorations in the Tradition of Hyman P. Minsky , Chapter 9, Ann Arbor, MI, USA: The University of Michigan Press, 1994, 231–77 12 ‘Profit Squeeze, Rentier Squeeze and Macroeconomic Policy Under Fixed and Flexible Exchange Rates’, Economies et Sociétés , 25 (3), November/December, 1991, 219–57 13 ‘The Rise of Rentier Incomes in OECD Countries: Financialization, Central Bank Policy and Labor Solidarity’, with Arjun Jayadev, in Gerald A. Epstein (ed.), Financialization and the World Economy , Chapter 3, Cheltenham, UK and Northampton, MA, USA: Edward Elgar Publishing Ltd, 2005, 46–74 PART IV INFLATION TARGETING VS. DEVELOPMENTAL CENTRAL BANKING 14 ‘Financialization, Rentier Interests and Central Bank Policy’, 2002, 1–43 15 ‘Central Banks as Agents of Economic Development’, in Ha-Joon Chang (ed.), Institutional Change and Economic Development , Chapter 6, New York, NY, USA: United Nations University Press and London, UK: Anthem Press, 2007, 95–113 16 ‘Developmental Central Banking: Winning the Future by Updating a Page from the Past’, Review of Keynesian Economics , 1 (3), Autumn, 2013, 273–87 17 ‘Achieving Coherence Between Macroeconomic and Development Objectives’, in Joseph E. Stiglitz and Martin Guzman (eds), Contemporary Issues in Macroeconomics: Lessons from The Crisis and Beyond , IEA Conference Volume 155-II , Chapter 11, Basingstoke, UK and New York, NY, USA, Palgrave Macmillan, 2016, 148–59 PART V THE FEDERAL RESERVE AND THE GREAT FINANCIAL CRISIS OF 2007–2008 18 ‘Have Large Scale Asset Purchases Increased Bank Profits?’, with Juan Antonio Montecino, Institute for New Economic Thinking (INET) Working Paper No. 5 , December, 2014, 1–25 19 ‘The Political Economy of QE and the Fed: Who Gained, Who Lost and Why Did it End?’, with Juan Antonio Montecino, Political Economy Research Institute (PERI) Working Paper Number 408 , November, 2015, 1–25 20 ‘The Impact of Quantitative Easing on Income Inequality in the United States’, November, 2018 PART VI REFORMING THE FEDERAL RESERVE 21 ‘Statement on Monetary Policy’, Testimony Prepared for the House Committee on Banking, Finance, and Urban Affairs , July 19th, 1983, 1–11 22 ‘A Debate with Robert Pollin: Should Congress Control the Federal Reserve?’, with Robert Pollin, Dollars & Sense , 136 , May, 1988, 12–17, 22 23 ‘Reforming the Federal Reserve for the 21st Century’, 2018 Index

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Book SynopsisEconomics is business, and politics is power. In this insightful book, David Reisman explores the interaction between authority and exchange in a global village where individual nation states - once the pinnacle of political organisation - increasingly depend on each other for their material well-being. Taking a transnational and impartial perspective, the author builds a comprehensive and intricate narrative. He dissects the emergence of the contemporary global economy and explains its impact on the sovereignty and strength of nations. Reisman explores the ways in which liberals, socialists and nationalists can reach a viable consensus in a new social order where the national interest must be the global interest as well. Offering authoritative, integrated and critical guidance to a topic that is of ever greater importance, this book is crucial reading for students of global political economy and international politics.Trade Review'Global Political Economy is sweeping in its coverage of the major sub-areas of IPE, as well as its treatment of leading contributions to the field. The analysis of the three leading theories and nine sub-areas is probing, thoughtful and impressively balanced. This book will be useful for intermediate and advanced undergraduate courses, graduate students, and public officials at all levels of governance.' --David Deese, Boston College, US'In a crowded textbook market, Reisman's Global Political Economy stands out for its fresh heterodox perspective. Building outward from more conventional analytical approaches, Reisman offers unique insights into the interactions between economics and politics on the world stage. Accessible in style, the book is both instructive and provocative.' --Benjamin J. Cohen, University of California, Santa Barbara, USTable of ContentsContents: 1. A global political economy 2. Science and ideology 3. The National Interest 4. The Hegemon 5. Goods and Services 6. Regions and Blocs 7. The Developing Countries 8. Development and Trade 9. The Multinational Enterprise 10. International Liquidity 11. Money without Borders Bibliography Index

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Book SynopsisCOVID-19 and other recent crises have proved the need to review the state-of-play and implement robust institutional frameworks in the complex, heterogenous and decentralised European supervisory architecture. This insightful book outlines what can be done to innovate the current set-up in the face of pressing issues such as climate change, BigTech and crypto assets.Revisiting the debate on financial sector oversight in Europe, a range of highly acclaimed international academics and influential policymakers discuss the scope of institutional arrangements. Chapters examine how the architecture of European financial supervision currently works, analysing the trends in banking supervision design and the influence that recent financial and economic crises have exerted. Providing a rare insight into the role that central banks play in the supervisory set-up, their accountability and democratic legitimacy, the book also considers the ways that macro- and micro-prudential and monetary policies interact. Gleaning lessons from the FinTech revolution and the COVID-19 crisis, the book ultimately concludes by seeking a path for optimal architecture for European financial supervision.With invaluable industry insights, this cutting-edge book will prove vital to academics in the field of financial economics and financial regulation, alongside policymakers looking to transform their current supervisory architecture.Trade Review‘This volume provides a comprehensive and indispensable opportunity to take stock of the achievements and challenges of European banking supervision after the momentous reforms of the early 2010s, and on the related debates about financial supervisory architecture. While the complexity may at times appear dizzying, it is an important story whose policy lessons have relevance well beyond the boundaries of the euro area and European Union.’ -- Nicolas Véron, Bruegel, Belgium and the Peterson Institute for International Economics, USTable of ContentsContents: 1 Introduction to Central Banks and Supervisory Architecture in Europe 1 Robert Holzmann and Fernando Restoy PART I TRENDS IN EUROPEAN BANKING SUPERVISION DESIGN 2 The puzzle of Europe’s banking union: progress and missing pieces 14 Thorsten Beck 3 Supervisory architecture in the EU: where should we go from here? 21 Fernando Restoy 4 The architecture of supervision and prudential policy 34 Angela Maddaloni and Alessandro Scopelliti 5 Trends in European banking supervision design: is there a path to an optimal architecture for financial supervision in the EU? 49 Luís Silva Morais PART II THE ROLE OF CENTRAL BANKS (I): ASPECTS OF MONETARY AND MACROPRUDENTIAL POLICY INTERACTION 6 Can macroprudential tools ensure financial stability? 62 Anne Epaulard 7 The interaction of monetary and financial tasks in different central bank structures 71 Aerdt Houben, Jan Kakes and Annelie Petersen 8 Monetary and macroprudential policies: a troubled marriage 83 Phurichai Rungcharoenkitkul 9 The architecture of macroprudential policy: delegation and coordination 96 Charles Bean 10 Governance of financial sector policies in an era of climate change 108 Daniel C. Hardy PART III THE ROLE OF CENTRAL BANKS (II): MICROPRUDENTIAL SUPERVISION AND FINANCIAL STABILITY 11 Entrusting central banks with microprudential supervision: implications for financial stability 122 Anca Maria Podpiera 12 Is this time different? Synergies between ECB’s tasks 135 Karin Hobelsberger, Christoffer Kok and Francesco Paolo Mongelli 13 Money, supervision, and financial stability: a money-credit constitution entrusted to independent but constrained central banks 156 Paul Tucker 14 Politicians, central banks and macroprudential supervision 170 Donato Masciandaro PART IV THE FINTECH REVOLUTION: IMPLICATIONS FOR OPTIMAL SUPERVISORY ARCHITECTURE 15 Regulating and supervising BigTech in finance 181 José Manuel González-Páramo 16 The emerging autonomy–stability choice for stablecoins 194 Maarten R. C. van Oordt PART V LESSONS FROM THE COVID-19 CRISIS FOR THE OPTIMAL SUPERVISORY ARCHITECTURE 17 Some lessons from COVID-19 for the EU financial framework 206 Ignazio Angeloni 18 Central banks as emergency actors: implications for governance arrangements 218 David Archer Index

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Book SynopsisThis volume presents thirteen chapters prepared by senior researchers and former policy makers on key policy issues confronting China and the West. They focus on the role of the state in economic development, trade issues and the part played by innovation, digitalization and leadership.In a challenging and rapidly changing world, the book aims to provide not only authoritative analyses and perspectives, but to stimulate further thinking and debates about the common future. Each chapter is in the form of a short policy brief.China and the West is aimed for policy makers, business leaders, academics and students.Trade Review'A timely and thought-provoking evaluation of the key policy dilemmas in China and the West. This edited volume, with contributions from leading academics, advances our understanding of topics as diverse as ''murky'' protection, sustainability, artificial intelligence, and local government evaluation.' -- Saul Estrin, London School of Economics, UKTable of ContentsContents: 1 Introduction 1 Jan Svejnar and Justin Yifu Lin PART I RECENT POLICIES AND PERFORMANCE 2 Path to prosperity: China’s transition to market economy in the last four decades 5 Justin Yifu Lin 3 China’s performance and prospects in the world economy 14 Jan Svejnar 4 The role of the state in economic growth 20 Jacob Lew 5 Reflections on the global financial crisis: a comparison of US and China policies 29 Frank Song 6 Policies for structural reform in China: domestic rebalancing for strong sustainable and inclusive growth within and beyond China 39 Ehtisham Ahmad, Isabella Neuweg, Nicholas Stern and Chunping Xie PART II TRADE, TENSIONS AND DIVISION OF LABOR 7 The potential for cooperation and competition in international trade: recent trade growth and driving factors – a perspective on current global trade tensions 60 Robert Koopman 8 Overview of China–US Economic Disputes in 2018 69 Feng Lu 9 The metabolic nature of changing world order 93 Ping Chen 10 India and China in the context of rising trade tensions in the global economy 112 Arvind Panagariya PART III DIGITALIZATION AND LEADERSHIP 11 The role of innovation and the digital economy: new opportunities and challenges for Chinese, US and European economic policy 120 Edmund Phelps 12 The digitalisation of Europe’s economy 125 Debora Revoltella, Philipp Brutscher and Tessa Bending 13 Prospects for China’s drive for innovation: From the perspective of demographics 135 Jianzhang Liang 14 Evaluation of local leaders in China 148 Chong-En Bai and Eric Maskin Index

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Book SynopsisThis timely book explores the measurement and consequences of financialisation, as well as its driving forces, to take a fresh look at reconciling the twin concepts of financialisation and financial development. Imad Moosa provides a critical review of these two separate strands – the individual measures of economic development and financialisation – on the grounds that they are inadequate to represent a multi-dimensional process.Introducing a new composite measure encompassing the means of payment and asset ownership as well as conventional indicators, Moosa expertly investigates the economic, political and social consequences of financialisation. Identifying the driving forces of financialisation, he concludes that there is a requirement to reverse the current trend using more than just legislation and regulation to secure a sound and stable economy. This innovative book will be a fascinating and informative read for academics and research students of financial economics, regulation and economic sociology. Policy makers and politicians engaged in financial regulation will find the suggested insights into achieving future financial stability thought-provoking.Trade Review‘People in the finance industry have long advocated the benefits of financialisation. However, the detrimental effects that the other productive sectors in an economy wither away are often overlooked. This book presents the ugly and detrimental consequences of financialisation – something that is rarely discussed in the financial world. For any person interested in finance, this book is essential reading.’ -- George Tawadros, Winona State University, US‘With the ongoing decline of neoliberalism and the massive economic inequality it has produced, this highly accessible book is absolutely timely. It is compulsory reading for policy makers and all those demanding more government control over the running of economies and a reduction in the burgeoning artificial practice of making money out of money.’ -- Greg Bailey, La Trobe University, Australia‘Imad A. Moosa comprehensively addresses the “financialisation” literature and financialisation in practice – its history, incidence, causes and effects, ranging over grand narrative to fine detail, commanding technical and discursive contributions, and the economic and the social. It is a compelling starting point for anyone concerned with the defining characteristic of our age.’ -- Ben Fine, SOAS, University of London, UKTable of ContentsContents: Preface 1. Conceptual issues and preliminary observations 2. Financial development: concept and measurement 3. The economic effects of financial development 4. From financial development to financialisation 5. The driving forces of financialisation 6. Financialisation, neoliberalism and globalisation 7. Financialisation, financial instability and financial crises 8. The economic effects of financialisation 9. The political and social effects of financialisation 10. Epilogue References Index

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Book SynopsisIn this incisive fifth edition of Financial Crises and Recession in the Global Economy, Roy E. Allen examines the major financial instabilities, crises, and evolutionary trends since the 1970s and through the recent Covid-19 pandemic. Providing empirical research on the relation between money and the real economy, Allen explains how key financial variables are driven more by psychological and social constructs than is commonly understood and discusses how monetary wealth transfers in the context of what he terms ‘US money mercantilism’ have favored the US dollar ‘core’ of the global system. Chapters go on to explore the continuing globalization of financial markets, including further innovations in information-processing technology, government deregulation, new uses and forms of money, and emerging financial products and markets. Allen elaborates on the political economy of financial crises and further advances his human ecology economics framework to help guide research and policymaking in the future. Explaining why large-scale financial instabilities occur and how they might be better managed and avoided, this thoroughly revised fifth edition will be an essential resource for students and scholars of international economics, macroeconomics, international finance, and international political economy. Its critical insights on how the international system continues to evolve will also help inform policymakers’ responses to financial crises.Table of ContentsContents: Preface Introduction to Financial Crises and Recession in the Global Economy 1 Financial globalization since the 1970s 2 Financial instabilities and trends in the 1980s 3 Financial instabilities and trends in the 1990s 4 The 2007– crisis, common patterns and new thinking 5 A human ecology economics (HEE) framework for the analysis of financial instability and capital accumulation 6 The 2020– pandemic and beyond: summary and conclusions References Index

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Book SynopsisIn this incisive fifth edition of Financial Crises and Recession in the Global Economy, Roy E. Allen examines the major financial instabilities, crises, and evolutionary trends since the 1970s and through the recent Covid-19 pandemic. Providing empirical research on the relation between money and the real economy, Allen explains how key financial variables are driven more by psychological and social constructs than is commonly understood and discusses how monetary wealth transfers in the context of what he terms ‘US money mercantilism’ have favored the US dollar ‘core’ of the global system. Chapters go on to explore the continuing globalization of financial markets, including further innovations in information-processing technology, government deregulation, new uses and forms of money, and emerging financial products and markets. Allen elaborates on the political economy of financial crises and further advances his human ecology economics framework to help guide research and policymaking in the future. Explaining why large-scale financial instabilities occur and how they might be better managed and avoided, this thoroughly revised fifth edition will be an essential resource for students and scholars of international economics, macroeconomics, international finance, and international political economy. Its critical insights on how the international system continues to evolve will also help inform policymakers’ responses to financial crises.Table of ContentsContents: Preface Introduction to Financial Crises and Recession in the Global Economy 1 Financial globalization since the 1970s 2 Financial instabilities and trends in the 1980s 3 Financial instabilities and trends in the 1990s 4 The 2007– crisis, common patterns and new thinking 5 A human ecology economics (HEE) framework for the analysis of financial instability and capital accumulation 6 The 2020– pandemic and beyond: summary and conclusions References Index

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