International economics Books

Book SynopsisA Washington Post Notable Book of the Year • An Economist Book of the YearNow With a New Afterword“A must-read for anyone wanting to better understand what has already happened here in America and what lies ahead if Trump is reelected in November…. A magisterial account of the money and violence behind the world’s most powerful dictatorships.” -Washington PostIn this shocking, meticulously reported work of narrative nonfiction, an award-winning investigative journalist exposes “capitalism’s monster”—global kleptocracy—and reveals how it is corrupting the world around us.They are everywhere, the thieves and their people. Masters of secrecy. Until now we have detected their presence only by what they leave behind. A body in a burned-out Audi. Workers riddled with bullets in the Kazakh Desert. A rigged election in Zimbabwe. A British banker silenced and humiliated for trying to expose the truth about the City of London.They have amassed more money than most countries. But what they are really stealing is power.In this real-life thriller packed with jaw-dropping revelations, award-winning investigative journalist Tom Burgis weaves together four stories that reveal a terrifying global web of corruption: the troublemaker from Basingstoke who stumbles on the secrets of a Swiss bank, the ex-Soviet billionaire constructing a private empire, the righteous Canadian lawyer with a mysterious client, and the Brooklyn crook protected by the CIA.Glimpses of this shadowy world have emerged over the years. In Kleptopia, Burgis connects the dots. He follows the dirty money that is flooding the global economy, emboldening dictators, and poisoning democracies. From the Kremlin to Beijing, Harare to Riyadh, Paris to the White House, the trail shows something even more sinister: the thieves are uniting. And the human cost will be great.

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Book SynopsisTrade Review"This is essential reading for anyone concerned about America’s economic future." — Publishers Weekly (starred review) "'We hope this book provides the material to understand what happened and why,' the authors conclude. Mission accomplished." — Kirkus Reviews "A must-read for anyone interested in what happened between China and the United States, likely the world’s most important economic relationship." — Forbes If you've ever wished you were a fly on the wall as top leaders in the U.S. and China were considering how to parry their counterparts' most recent moves, here's your big chance. . . . The book starts out with an incredible reveal, at least for those of us who have watched China for years . . . (No spoilers: Go read the book to find out!) — Axios "Superpower Showdown, a gripping and granular account of the past, present and future of the United States-China trade war by two former Beijing correspondents of the Wall Street Journal, could just as well have been titled Marriage Story. . . . There are perhaps no two journalists better placed to tell this tale. . . . The strength of this book lies in the rich perspectives it offers from both Washington and Beijing, presenting a clear insight into the decision-making of both parties." — The Hindu "Davis and Wei provide an essential overview of how the United States and China became so entwined, and the challenges ahead. . . . Superpower Showdown is especially insightful on how the contradictory natures of Trump and Xi have impeded understanding." — Boston Globe "The twists and turns that produced the Trump administration’s China policy fill Superpower Showdown, a lively account by two gifted Wall Street Journal reporters." — Project Syndicate "[A] well-reported and fascinating look into Sino-American economic relations . . . The most compelling parts of the book report on what the negotiators and policymakers on both sides were thinking before striking a deal in January 2020." — American Enterprise Institute “My first advice to the Biden administration on trade and particularly our relationship with China is that they need to get and study copies of Superpower Showdown, a book by Davis and Wei that describes the environment with China—that we are now experiencing an era of confrontation.” — Josh Bolten, President and CEO of Business Roundtable, former White House chief of staff to President George W. Bush

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Book SynopsisDeals with the frontiers in financial theory of economics. This work covers most aspects of finance - domestic corporate and investment issues as well as questions and problems of topical value in international finance. It includes topics such as: initial public offerings, debt restructuring, mergers, dividend policy, stock returns, and more.Table of ContentsPreface. Introduction. Part I. Capital structure and dividend policy in an intertemporal optimization model (D.K. Ghosh). Ex-dividend days and daily stock returns (E.A. Dyl et al.). A quadratic growth approach to the two-stage dividend discount model (J.Y. Uppal, et al.). The nature of the predictability of German stock returns (G.G. Booth et al.). Complex and random appearing stock prices: a chaotic approach (E. Pilarinu, G.C. Philappatos). A strong case for the Arrow-Pratt risk aversion measure (R. Dossani et al.). The role of banks in debt restructuring (K. John, G.K. Vasudevan). Stock prices, merger activity, and the macroeconomy (I. Mathur, V. Subrahmanyam). The impact of the type of offering on the underpricing of IPOs (D. Prasad). Assessment of investment quality of securities: a fuzzy set theory approach (R.S. Koundinya). Equity markets with frictions: an examination (A. Mulugetta, G. Duteil). Using real options analysis in capital budgeting: the opportunity cost of excess capacity (R. McLaughlin, R.A. Taggart). Is the real interest rate stable? (O.D. Gulley). Agency costs and employee stock ownership plans (K.T. Liaw). Part II. Innovations in currency markets: rolling spot(tm) contracts (I.G. Kawaller). The pricing of forward and futures contracts with heterogeneous consumers (L.P. Blenman). Exchange rate determination in the forward exchange and foreign currency futures markets (A.M. Parhizgari, R.E. Mathis). Evidence on market efficiency in the term structure of currency futures prices (M.A. Sullivan). A theory of international takeover bidding (V.R. Errunza et al.). Foreign bank credit to US corporations: the implications of offshore loans (R.N. McCauley, R. Seth). Sovereign and corporate borrowing and sustainable growth: strategies model for the design of payments (E. Ortiz, E. Arjona).

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Book SynopsisEnormous amounts of money are made and lost through activities related to Mergers, Acquisitions, Demergers, Buyouts and Alliances. This subject area has been extensively covered by "Long Range Planning". This volume brings together a selection of the key papers published by this Journal on the subject.Table of ContentsPart headings: Mergers and Acquisitions. Demergers, Buyouts and Divestments. Strategic Alliances and Joint Ventures.

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Book SynopsisSarah Rose is a writer living in New York. She was educated at Harvard and the University of Chicago.Trade ReviewThe best parts of the book are not the dangers that Fortune encountered, but Rose's assured, confident descriptions of the manufacture of tea. Like Fortune, the reader goes on a journey of discovery * Mail on Sunday *Had your cup of tea this morning? If not, the next time you take a gulp of PG Tips or a sip of single estate orange pekoe you might want to send up a prayer of thanks for the dogged Scotsman who made it all possible, Robert Fortune ... Rose's account is full of colour * The Times *[Fortune's] story is well worth the telling, and Rose does so with skill and restraint * Literary Review *Reshapes into gripping prose Fortune's own memoirs and letters ... An enthusiastic tale of how the humble leaf became a global addiction * Financial Times *Reveals our cuppa wouldn't exist if it wasn't for an amazing Victorian, armed only with a rusty pistol and a pigtail, who stole the secret of tea from under the nose of China's ruthless warlords * Daily Mail *

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Book SynopsisCapitalism faltered at the end of the 1990s as corporations were rocked by fraud, the stock-market bubble burst and the American business model unfettered self-interest, privatization and low tax faced a storm of protest. But what are the alternatives to the mantras of market fundamentalism?Leading economist John Kay unravels the truth about markets, from Wall Street to Switzerland, from Russia to Mumbai, examining why some nations are rich and some poor, why one-size-fits-all' globalization hurts developing countries and why markets can work but only in a humane social and cultural context. His answers offer a radical new blueprint for the future.

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Book SynopsisFrom Nobel Prize winner Joseph Stiglitz, Making Globalization Work gives real, concrete ways to deal with third world debt, make trade fair and tackle global warming. In Globalization and its Discontents Joseph Stiglitz changed the views of the public and world leaders alike by showing why globalization doesn''t work for the world''s poor. In this bold, ambitious follow-up, Stiglitz shows how powerful organizations such as the UN, the IMF and the World Bank can be made to consider everyone''s interests. Stiglitz examines how change has occurred rapidly over the past four years, proposing solutions and looking to the future. He puts forward radical new solutions to the seemingly intractable international problems which we face - in forms that are more likely to be accepted both by the US and the developing world than previous proposals. Another world is possible, he argues, and is not only morally right, but of benefit to us Trade ReviewStiglitz has written an excellent book that can act as a lodestar for those who want to achieve a different and better world -- Martin Jacques * Guardian *

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Book SynopsisAlan Greenspan''s The Age of Turbulence is the essential guide to what is happening in the world, and where we''re heading, from the ultimate expert. Alan Greenspan wielded more power than the presidents he worked for, from Ronald Reagan and Bill Clinton to George Bush and his son. He was in the command room of the world economy for longer than any other single figure. One word from him could send markets into freefall. Now Alan Greenspan, the legendary former chairman of the Federal Reserve, gives us a unique insider''s view of the world over his lifetime, from stock market exuberance to political turmoil - and his predictions for the future of our fast-changing, increasingly turbulent global economy. ''First rate ... [The Age of Turbulence] is intelligent in a way that few popular books on economics manage or even try to be ... An enjoyable read''  Economist ''With his book, [Greenspan] finally lets us

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Book Synopsis*NEW YORK TIMES BESTSELLER*Why do some countries succeed while others fail? What causes boom or bust? The World Trade Editor of the FT explains how the world really works.''A thorough examination of economies from the age of empire to the age of the IMF'' The Washington PostWhy do oil and diamonds lead to economic disaster more often than boom? Why doesn''t Africa grow cocaine? Why might believing in God be good for your balance-sheet?Botswana and Sierra Leone are both blessed with abundant diamonds. Why did Botswana became the world''s fastest-growing economy while Sierra Leone suffered a decade of brutal civil war?For the past two hundred years Argentina had enjoyed a vista of economic opportunity almost identical to that of the USA but in 2001 Argentina''s government bankrupted itself. Why did the USA succeed while Argentina stalled?Time and again, world leaders have failed to

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Book SynopsisJohn Lanchester''s Whoops! Why Everyone Owes Everyone and No One Can Pay is the unbelievable true story of the economic crisis. We are, to use a technical economic term, screwed. The cowboy capitalists had a party with everyone''s money and now we''re all paying for it. What went wrong? And will we learn our lesson - or just carry on as before, like celebrating surviving a heart attack with a packet of Rothmans? John Lanchester travels with a cast of characters - including reckless banksters, snoozing regulators, complacent politicians, predatory lenders, credit-drunk spendthrifts, and innocent bystanders to understand deeply and genuinely what is happening and why we feel the way we do. ''Devastatingly funny ... the route map to the crazed world of contemporary finance we have all been waiting for''  Will Self ''Bang on the money''   Independent ''Explains the crisis in a way that actuTrade ReviewThis is what George Bernard Shaw might have called An Intelligent Person's Guide to the Crisis of Modern Capitalism, and everyone ought to read it * Robert Harris, Sunday Times *Original . . . beautifully written . . . both entertaining and profoundly anger-inducing * Chris Blackhurst, Evening Standard *The route map to the crazed world of contemporary finance we have all been waiting for. John Lanchester's superb book is everything its subject - the 2008 crash - was not: namely lucid, beautifully contrived, comprehensible to the reader with no specialist knowledge - and most of all devastatingly funny -- Will SelfWickedly funny . . . Good humor and good company will be the things that'll get us through * Dwight Garner, New York Times *Endlessly witty, but the wit is underpinned by a tremendous, unembarrassed anger and moral lucidity. A superb guide which will turn any reader into an expert within the space of 200 pages. * Jonathan Coe *Explains the madness of modern capitalism with razor-sharp insight, brilliant clarity and a refreshing dose of humour. A great book. * John O'Farrell *Scarier than Thomas Harris * Nicci French *John Lanchester's newfound mission: to explain the world of finance to the general public . . . The result is the perfect read for anyone still wondering what went wrong and why. Unless you'd rather they didn't know * Bloomberg *Literary and profound . . . a master explainer with an excellent grasp of sophisticated finance * Christopher Caldwell, The Daily Beast *Acidic, frightening, and sharply funny . . . a better book about the global meltdown than any other to date * EW.com *[A] sober message lurking among Lanchester's delightful wordplay, and it deserves attention by everyone who cares to understand where we are, how we got here and who is responsible * John Lawrence Reynolds, Globe and Mail *This is a piece of genius . . . It tells a proper story, like a novel, and we're all part of it - which means it is *gripping*. Yes! Gripping! A book about money! I know! But it's true. It is necessary, particularly - but not exclusively - if you're somebody who thinks, 'Fannie Mae, Freddie Mac, Iceland, um, mortgages, er...' and doesn't want to keep thinking it until the end of time, amoeba-stylee. I humbly posit that it is a masterpiece * India Knight *Lanchester has turned that fascination - coupled with a kind of astonished anger - into a lucid, conversational account of the crisis designed for non-financial types and helpfully leavened with jokes, swearing and interesting asides * Quentin Webb, Reuters *An excellent book for anyone wondering what the hell is going on. Triple A, as the credit rating agencies might say * Irish Times *Or you could simply borrow the book from someone. If they've read it, even better - they won't be expecting you to return it * The Telegraph *For anyone still wondering what the hell those bankers did with our money, try John Lanchester's deliciously escoriating Whoops! Even someone who can't remember their eight times tables comes away feeling wonderfully well informed -- Allison Pearson * summer reading recommendation, Psychologies *This account is by far the most lucid and entertaining explanation of the world banking crisis of 2008 -- Megan Walsh * summer reading recommendation, Times *A lively lay reader's guide to the financial crisis, written by a novelist who sought to educates himself about banking and its failures. Funny and pointed, it exposes the gulf between the two cultures of modern Britain: financial and non-financial -- Ed Crooks * summer reading recommendation, Financial Times *If you want to look like a rock of good sense, a person who is deep and wise and worried, then I suggest Whoops! by John Lanchester ... If only the Queen Mother were still alive, it would make sense even to her -- Colm Toibin * summer reading recommendation, Guardian *

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Book SynopsisMariana Mazzucato is Professor in the Economics of Innovation and Public Value at University College London (UCL), where she is also Founder and Director of the Institute for Innovation and Public Purpose. Her widely published research focuses on the relationship between public policy, innovation, and economic growth and she advises policymakers around the world on how to steer innovation so that it produces growth that is more inclusive and sustainable. She is author of the highly acclaimed book The Entrepreneurial State: Debunking Public vs. Private Sector Myths and co-editor of Rethinking Capitalism: Economics and Policy for Sustainable and Inclusive Growth. She is winner of the 2014 New Statesman SPERI Prize in Political Economy, the 2015 Hans-Matthöfer-Preis and the 2018 Leontief Prize for Advancing the Frontiers of Economic Thought. She was named as one of the 'three most important thinkers about innovation' in New Republic.Trade ReviewA stimulating analysis of the underlying causes of inequality and growth which forces us to confront long-held beliefs about how economies work and who benefits. ... The book itself adds value by forcing us to confront these points. -- Martin Wolf * Financial Times *Someone should make a musical out of this book. That is quite unlikely, I grant you, but not as unlikely as it sounds. In 1893 the Savoy theatre staged Gilbert and Sullivan's penultimate operetta, Utopia, Limited ... It is time to rework the idea and Mariana Mazzucato is a candidate to write the libretto. -- Philip Collins * The Times *As Mariana Mazzucuto's new book, published today, explains, our economy has been financialised and no longer rewards real value creation. -- Chi Onwurah * New Statesman *Mariana Mazzucato ... argues that we urgently need to rethink where wealth comes from to heal a sick system. -- Richard Kilgarriff * Management Today *Mariana Mazzucato offers an exposé of how value extractors and rent-seekers have been masquerading as value creators in the global economy. And, furthermore, how the conventional wisdom has indulged them in this. -- Fran Boait * Prospect *In The Value of Everything, published last week, Mazzucato sharpens her focus, not only lauding the role of 'mission-oriented' public investment, but honing her critique of the private sector too. -- Liam Halligan * The Spectator *Some economists merely interpret the world in various ways; others seek to change it. Mariana Mazzucato is an exemplar of the latter kind. The Italian-American is a restless thinker drawn to transformative, disruptive projects. ... Mazzucato's mission is to overturn the now dominant neoclassical theory of value. In the mid-19th century, she explained, an intellectual revolution occurred: rather than value determining price, price began to determine value. -- George Eaton * New Statesman *The Value of Everything is receiving accolades on Twitter from finance ministers and student idealists alike, and is clearly set to be essential summer reading for civil servants. -- Delphine Strauss * Financial Times *Praise for The Entrepreneurial State: Conventional economics offers abstract models; conventional wisdom insists that the answer lies with private entrepreneurship. In this brilliant book, Mariana Mazzucato...argues that the former is useless and the latter incomplete. -- Martin Wolf * Financial Times *One of the most incisive economic books in years. -- Jeffery Madrick * New York Review of Books *

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Book Synopsis''Stunningly good'' Michael Burleigh, Evening Standard, Books of the Year 2017 A Financial Times Best Book of 2017''A shrewd and knowing book.'' Robert D. Kaplan, The Wall Street Journal''A compelling and impressive read.'' The Economist''Skillfully crafted and well-argued.'' Jeffrey Wasserstrom, Financial Times''An excellent modern history. . . . provides the context needed to make sense of the region''s present and future.'' Joyce Lau, South China Morning PostThe dramatic story of the relationship between the world''s three largest economies, one that is shaping the future of us all, by one of the foremost experts on east AsiaFor more than half a century, American power in the Pacific has successfully kept the peace. But it has also cemented the tensions in the toxic rivalry between China and Japan, consumed with endless history wars and entrenched political dynasTrade ReviewA shrewd and knowing book -- Robert D. Kaplan * Wall Street Journal *A compelling and impressive read * Economist *Skillfully crafted and well-argued -- Jeffrey Wasserstrom * Financial Times *An excellent modern history. . . . provides the context needed to make sense of the region's present and future. -- Joyce Lau * South China Morning Post *[A] wide-ranging study of China's re-emergence as a regional power in Asia after a long hiatus, thwarting the designs of other powers, including the United States and Russia. . . . The U.S. [finds itself] firmly ensnared in the so-called Thucydides trap, 'the principle that it is dangerous to build an empire but even more dangerous to let it go.' So it is, and the current leadership appears to be at a loss about what to do or to formulate other aspects of any coherent policy in and toward Asia. . . . Geopolitics wonks will want to give attention to this urgent but nonsensationalized argument. * Kirkus Reviews *The United States, China, and Japan form the power triangle that will shape much of the international politics in the 21st century. Richard McGregor's masterful The Party illuminated one corner of that triangle-China. In this important book he describes how the other two corners have interacted with China since World War II. Lucid, insightful and ominous, as the author describes big trouble ahead -- Eliot Cohen, author of SUPREME COMMANDRichard McGregor's new book is essential reading for anyone worried about the most fraught relationship in Asia-between China and Japan. With extensive experience in and knowledge of both China, Japan, and the United States, McGregor is in a unique position to unpack the relationship and sort through the extensive propaganda and myth-making on all sides. A great read! -- John Pomfret, author of The Beautiful Country and the Middle KingdomMcGregor distills years of meetings with high officials in China and Japan to give a vivid nuanced picture of their relations in the 21st century -- Ezra Vogel, author of Deng Xiaoping and the Transformation of ChinaAn in-depth depiction of radical changes and challenges in Japan-China relations in the post-war period, thoroughly researched and rich in storytelling. In the course of tumultuous relations with China, Japan has had to trail blaze in the face of the rise of China. Japan's naked exposure to the unfolding Realpolitik with China at its core is for the first time comprehensively reviewed. -- Yoichi Funabashi, former Editor-in-Chief, Asahi ShimbunA must read for anyone who wants to understand our future. Asia's Reckoning provides a detailed picture of the slow military, diplomatic and economic waltz between China, Japan and the United States that determined the shape of the past half-century. -- Nicholas Stuart * Brisbane Times *A compelling account of the post-war relationship between China, Japan and America, brings to life one of the world's most complicated love-hate triangles. -- Clifford Coonan * Irish Times *McGregor's brilliant book is packed with insights on the complex Sino-Japanese relationship, the gist of that being that past history should be our teacher rather than master. Will a more powerful China learn magnanimity, one wonders. -- David Sexton * Evening Standard, Book of the Year *For journalists taking up new posts in China, the first book I always suggest is Richard McGregor's The Party. I will now add McGregor's new book, Asia's Reckoning, to my list for those headed to the Far East. -- Melissa Chan * Los Angeles Review of Books *In Asia's Reckoning, Richard McGregor provides a cogent and superbly researched guide to the deep forces that undergird China's geopolitical strategy and the attempts of two other great powers in the region, the United States and Japan, to deal with it. -- Peter Tasker * The Mekong Review *McGregor's fascinating narrative of the three countries' relations over 50 years is filled with fresh anecdotes drawn from interviews and newly released archival documents. McGregor has a sharp eye for personalities and policy factions, as well as a firm grasp of geopolitics. -- Andrew Nathan * Foreign Affairs *Richard McGregor has followed up his masterful 2010 book on The Party by focusing on the collisions and the less frequent collusions between the three Pacific powers: China, Japan and the US. Most regional strategic writing is focused on one of the three countries, but McGregor has done immense research in each of them and sets up the story beautifully. -- Rowan Callick * The Australian *McGregor offers a masterful account of the complex fifty-year dance between China, Japan and the United States. -- Graeme Dobell * The Strategist *McGregor has written a magisterial book that combines old-fashioned shoe leather reporting and extensive archival research to hart seven decades of history between the three countries. -- Anna Fifield * Australian Foreign Affairs *

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Book SynopsisIf you like your smartphone or your widescreen TV, your car or your pension, then, whether you know it or not, you are a fan of Wall Street.William D. Cohan, bestselling author of House of Cards, has long been critical of the bad behaviour that plagued much of Wall Street in the years leading up to the 2008 financial crisis, and, as an ex-banker, he is an expert on its inner workings as well. But in recent years he has become alarmed by the vitriol directed at the bankers, traders and executives who keep the wheels of our economy turning. Why Wall Street Matters is a timely and trenchant reminder of the dire consequences for us all if the essential role these institutions play in making our lives better is carelessly curtailed.

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Book SynopsisFINALIST FOR THE ORWELL PRIZE FOR POLITICAL WRITING 2022 THE TIMES BOOKS OF THE YEAR 2021 ''A complex story, which Tooze tells with clarity and verve... The world is unlikely to be treated to a better account of the economics of the pandemic'' The Times From the author of Crashed comes a gripping short history of how Covid-19 ravaged the global economy, and where it leaves us now When the news first began to trickle out of China about a new virus in December 2019, risk-averse financial markets were alert to its potential for disruption. Yet they could never have predicted the total economic collapse that would follow in COVID-19''s wake, as stock markets fell faster and harder than at any time since 1929, currencies across the world plunged, investors panicked, and even gold was sold. In a matter of weeks, the world''s economy was brought to an abrupt halt by governments trying to contain a spiralling public health catastrophe. Flights were grounded; supply chains broken; industries from tourism to oil to hospitality collapsed overnight, leaving hundreds of millions of people unemployed. Central banks responded with unprecedented interventions, just to keep their economies on life-support. For the first time since the second world war, the entire global economic system contracted. This book tells the story of that shutdown. We do not yet know how this story ends, or what new world we will find on the other side. In this fast-paced, compelling and at times shocking analysis, Adam Tooze surveys the wreckage, and looks at where we might be headed next.''A seriously impressive book, both endlessly quotable and rigorously analytical'' Oliver Bullough, The GuardianTrade ReviewA complex story, which Tooze tells with clarity and verve... The world is unlikely to be treated to a better account of the economics of the pandemic. * The Times *Shutdown is a seriously impressive book, both endlessly quotable and rigorously analytical. Tooze synthesises a huge volume of information to argue that we must prepare for a new wave of crises or risk being sunk by them. Hopefully, governments everywhere will heed his warning. -- Oliver Bullough * The Guardian *Mr Tooze displays a remarkable ability to master the detail ... This is truly a picture of the global impact of the crisis; it covers the disruption in the financial markets, as well as the ins and outs of government policy. * The Economist *Fascinating, informative and wise. * Times Literary Supplement *An admirable work of synthesis and original analysis from the pre-eminent diagnostician of our age of discontents. * New Statesman *What sets [Shutdown] apart is Tooze's ability to keep his eye on the big picture - and the long view ... There will be plenty more books to come on the global economy of 2020. Few will be as timely, as wide-ranging or as clear as Shutdown. -- Duncan Weldon * Prospect *[A] brilliant, bracing account of the Covid pandemic and its protracted political aftermath ... Nuanced and wide-ranging. Tooze has the impressive ability, as a writer, to contextualise historical events as they unfold. -- Jamie Maxwell * The Herald *To read Shutdown feels like sitting alongside the great professor while he feverishly collates an array of data and anecdotes, attempts to chronicle what is going on, his head fizzing with ideas about what it might all mean and where it might be leading ... a fine use of one's time. -- Bill Emmott * Financial Times *Of all the instant histories spawned by the pandemic, this is the closest we'll get to a thriller ... it's a story that bears rereading ... a survival guide for the next man-made cataclysm that Adam Tooze warns will surely come soon. -- Patrick Maguire * The Times *A comprehensive history of an unprecedented year ... Readers will find this deeply informed parsing of the pandemic to be illuminating and thought-provoking. * Publishers Weekly *Tooze examines the unprecedented decision of governments around the world to shutter their economies in the face of pandemic ... As the pandemic hopefully continues to fade, other crises remain. This book is a valuable forecast of future problems. * Kirkus *

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Book SynopsisThe Oxford Handbook of the Economics of Central Banking reflects the state of the art in the theory and practice and covers a wide range of topics that will provide insight to students, scholars, and practitioners.Trade ReviewWritten by international scholars and banking-industry professionals, the 24 chapters in this handbook examine multiple aspects of central banking systems in worldwide markets, especially at how those systems have evolved since the global financial crisis of 2007-09. The contributors look at ways that monetary policy interacts with both the financial sector and the real economy by exploring the debate around controlling inflation and other emerging hot topics. * S. E. Fancher, Ozarks Technical Community College, Choice *

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Book SynopsisThere is no denying that the rules and enforcement mechanisms of investment law and arbitration reach deep into the regulatory and policy space of host states. Investment tribunals have the ability to second-guess all variety of state measures and, in doing so, have displayed a remarkable lack of restraint. Despite investment law''s muscularity, without equal in international law, the prevailing orthodoxy treats investment law as a defensible and just restraint on government and politics. This volume helps to correct the prevailing view. Rethinking Investment Law illustrates how investment law protections for foreign investors constrains states and over-compensates investors. It offers a more balanced vision of how international law can protect all those affected, not just foreign investors. An expert set of contributors explain both the conventional law and its limitations. Their analysis shows that doctrines, now widely entrenched, in orthodox accounts of investment law could have taTable of Contents1: David Schneiderman and Gus Van Harten: Introduction 2: David Schneiderman: National Treatment 3: Anil Yilmaz Vastardis: Most Favoured Nation Treatment 4: Nicolás M. Perrone: Expropriation 5: Fola Adeleke and Gus Van Harten: The Minimum Standard of Treatment 6: Mavluda Sattorova: Denial of Justice and Judicial Measures 7: Josef Ost%ranský: Fair and Equitable Treatment 8: Ibironke T. Odumosu-Ayanu: Umbrella Clauses 9: Ximena Sierra-Camargo and Federico Suárez-Ricaurte: The Right to Regulate 10: Juan Carlos Boué: The Determination of Quantum and Claim Inflation 11: M. Sornarajah: Conclusion: Containing the Pernicious Regime of Investment Arbitration

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Book SynopsisFinancing the Future explains how the unique governance arrangements and financial models of multilateral development banks shape their behavior, and uses that framework to show how different sets of Multilateral Development Banks (MDBs) are grappling with the challenges of the 21st century.Trade Reviewthis book is a must-have addition to the bookshelves of development policymakers and academics interested in international organizations and development. * Bernhard Reinsberg, Global Policy Journal *The analysis... sheds light on the financial model of MDBs. Recommended. Advanced undergraduates through faculty and professionals. * Choice *Table of Contents1: Follow the Money: The Financial Machinery of MDBs 2: Who's In Charge? Governance Across MDBs 3: The Legacy MDBs: World Bank and Major Regionals 4: Borrower-led MDBs: Developing Countries In Charge 5: New MDBs Step Onto the Stage: Asian Infrastructure Investment Bank and New Development Bank References Index

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Book SynopsisJointly sponsored by the American Council of Learned Societies and the Academy of Sciences of the USSR, this book brings together experts from each of the countries covered: Belgium, Brazil, Canada, Denmark, France, Germany, Hong Kong, Hungary, Italy, Japan, Sweden, UK, USA, and the former USSR. Together, they provide a comprehensive survey of this critical period in the emergence of the modern world economy.Contributors: B. V. Anan''ich, Hubert Bonin, V. I. Bovykin, Albert Broder, Rondo Cameron, Fred V. Carstensen, Vincent P. Carosso, P. L. Cottrell, Ian M. Drummond, A. A. Fursenko, Martine Goossens, Peter Hertner, Kanji Ishii, Hans Christian Johansen, Frank H. H. King, Gyorgy Kover, Maria Barbara Levy, Ragnhild Lundstrom, Ruth AmEnde Roosa, Richard Sylla, Jacques Thobie, Richard Tilly, Herman Van der Wee, Ulrich Wengenroth, and Mira Wilkins.Trade Review`Cameron and Bovykin have put together an important volume. In the impoverished context of banking history, the book stands out as a key work which will form the basis of much future study.' Andrew Freeman, Financial Times`Rondo Cameron and V.I. Bovykin must be congratulated for performing so well the herculean task of assembling such a group of talented academics, and steering them safely towards the publication of this most useful volume.' Business History`Historians of multinational business will be amongst those most interested in the material presented here. There are fascinating discussions of the different institutional and contractual choices made by different countries when engaging in international banking and finance ... Rondo Cameron and V.I. Bovykin must be congratulated for performing so well the herculean task of assembling such a group of talented academics, and steering them safely towards the publication of this most useful volume.' Business History'This volume is the outcome of an unusually extensive effort of international collaboration ... this collection provides a feast of data and information which will be welcomed particularly for areas otherwise little known to English-speaking scholars. The value of the essays lies in the detailed assembly of data which, and this is their great merit, do dovetail well to form a persuasive general picture. They offer the opportunity of a firm jumping-off ground for further dtailed regional and national research. Meanwhile, they also represent a splendid example of the possibilities of fruitful international collaboration, for which the editors and organisers deserve our respect and gratitude.' Sidney Pollard, University of Sheffield,Table of ContentsList of Contributors: B.V. Anan'ich, Hubert Bonin, V.I. Bovykin, Albert Broder, Rondo Cameron, Fred V. Carstensen, Vincent P. Carosso, P.L. Cottrell, Ian M. Drummond, A.A. Fursenko, Martine Goossens, Peter Hertner, Kanji Ishii, Hans Christian Johansen, Frank H.H. King, György Köver, Maria Bárbara Levy, Ragnhild Lundström, Ruth AmEnde Roosa, Richard Sylla, Jacques Thobie, Richard Tilly, Herman Van der Wee, Ulrich Wengenroth, and Mira Wilkins Rondo Cameron: Introduction Part I: International Factors in the Formation of Banking Systems P.L. Cottrell: Great Britain Vincent P. Carosso and Richard Sylla: U.S. Banks in International Finance Hubert Bonin: The Case of the French Banks Richard Tilly: International Aspects of the Development of German Banking Herman Van der Wee and Martine Goossens: Belgium V.I. Bovykin and B.V. Anan'ich: The Role of International Factors in the Formation of the Banking System in Russia H.C. Johansen: Banking and Finance in the Danish Economy Ragnhild Lundström: Sweden Ian M. Drummond: Banks and Banking in Canada and Australia Kanji Ishii: Japan Part II: Foreign Banks and Foreign Investment Mira Wilkins: Foreign Banks and Foreign Investment in the United States B.V. Anan'ich and V.I. Bovykin: Foreign Banks and Foreign Investment in Russia Ruth AmEnde Roosa: Banks and Financial Relations between Russia and the United States György Köver: The Austro-Hungarian Banking System Peter Hertner: Foreign Capital in the Italian Banking Sector M.B. Levy: The Banking System and Foreign Capital in Brazil Frank H.H. King: Extra-Regional Banks and Investments in China Jacques Thobie: European Banks in the Middle East Part III: International Banking and Multinational Enterprise The Oil IndustryA.A. Fursenko: Albert Broder: Banking and the Electrotechnical Industry in Western Europe Ulrich Wengenroth: Iron and Steel Fred V. Carstensen: International Harvester and its Competitors V.I. Bovykin and Rondo Cameron: Conclusions

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Book SynopsisIn this book, emerging long-term trends in the world economy are analysed to show their effect on the economic position of women in developing countries. Stressing the interlinkages between the macro and micro levels of the economy, the book approaches the subject from the perspective of both wage earning women and those in roles of unpaid labour such as housework and farmwork. The book provides the first methodological synthesis of these approaches to portray women in developing countries as active participants in development. Analysing the employment trends for women by geographical region and by sector the author assesses how the emergence of a modern international economy has affected the economic position of women.Trade Review` The study is well written and systematically presented, and it incorporates a multidisciplinary, cross-cultural approach. It would be an excellent addition to courses in international relations and women's studies.' Contemporary Sociology `It is a conceptually tidy, intellectually sophisticated, jargon-free source of tentative generalizations that should interest both theorists and policy-makers concerned with trends in women's status in a constantly changing global economy.' Population and Development Review

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Book SynopsisThis book examines why certain countries have achieved, at some period in their history, economic superiority over all other countries. The author is particularly interested not only in the factors that lead to this primacy, but also the factors that cause the primacy to end. The study begins in 1350 with Italian city-states, and continues through Portugal, Spain, the Low Countries, Great Britain, and the United States. Additional chapters treat France as a perennial challenger, Germany which twice waged war to attain primacy, and Japan.Trade ReviewA valuable addition to all libraries. * Choice *

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Book SynopsisThis book is a reassessment of the international monetary crises of the post-World War I period that led to the Great Depression of the 1930s. It also analyses the responses of the world economic powers to the Depression and how new monetary policies set the stage for the watershed post-World War II system established at Bretton Woods. It offers new theories of what effect the Great Depression had on the collapse of the world monetary system, and what effect the collapse had on deepening and prolonging the Depression, by exploring the link between global economic crisis and the the gold standard (the framework for international monetary affairs until 1931). The events described had a profound effect upon twentieth-century history: the Depression abetted the rise of Hitler and the demise of the gold standard is a historical cause of inflation.Trade Review`brilliant new book' Newsweek`This is a first-rate book. It should become an instant classic in the field.' Peter Temin, Massachusetts Institute of Technology`Eichengreen illuminates the role of the gold standard in his masterly analysis of the global economic and political forces that produced the Great Depression and economic recovery after 1933.' Anna J. Schwartz, National Bureau of Economic Research`Golden Fetters compels us to re-examine familiar ideas about economic pathology in the interwar period and the way the gold standard functioned before the First World War ... This is the most important contribution to the subject since the works of Brown and Nurske, more than four decades ago.' Peter B. Kenen, Princeton University`It looks to me to be quite a tour de force, by the outstanding contemporary scholar of the 20th century history of the international monetary system.' John Williamson, Senior Fellow, Institute for International Economics`Professor Eichengreen has succeeded in providing a rare blend of well-balanced economic and historical analysis ... There is no doubt in my mind that historians will see Golden Fetters as the standard work on the subject for years to come.' Gianni Toniolo, University of Venice`[Eichengreen's] book provides new and insightful analyses of how the gold standard worked and its role in the economic crisis of the interwar years.' David Hale, Chief Economist and Senior Vice President, Kemper Financial Services Corporation`Anyone tempted to make historical parallels between the EMS and the gold standard should read Barry Eichengreen's scholarl account ... his book is written with a clarity that allows one to identify both elements of the gold standard that were unique and those that are common to any regime of fixed exchange rates.' Times Literary Supplement`will quickly become the standard work ... it is superbly written and achieves its objective of being accessible to the general reader ... this is an excellent book and ... quite compelling reading' Business HistoryThis new international history of the inter-war gold standard, which will quickly become the standard work and should have immediate publication in paperback to encourage the widest readership, succeeds at a number of levels ... it is superbly written and achieves its objective of being accessible to the general reader ... it shows how national histories can be knitted together into a coherent analysis of an international economic crisis ... it breaks new ground in two important respects ... this is an excellent book and ... quite compelling reading.' Business History'This is a complex, densely argued and nuanced book, whose argument and flavour can scarcely be conveyed in a short review. Eichengreen's argument is important, and once absorbed will change the historical terrain. This is a wonderfully stimulating book ... a book which all interested in the period should read, and which will be of particular interest to readers of this journal. It is not, however, one to read on the Costa Brava with a bottle of wine.' Kathleen Burk, University College, London, Financial History ReviewIt is superb monetary history ... The great strength of Eichengreen's historical analysis is his enormously wide knowledge of, and sympathy for, economic and political conditions in all the major countries concerned ... a marvelous book. It is, in addition, beautifully written, and fully accessible to general readers (no mathematics, and lots of contemporary cartoons). A real pleasure to read, the work of a master economic historian. * International Journal of Finance and Economics *

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Book SynopsisIn this title, Sunstein presents a wide-ranging analysis of free markets and their limits, and discussion of law and economics as a field. He explores "free markets" and social justice in three main parts. The book raises a number of questions about economic analysis of law in its conventional form.Trade Review"This is an excellent book. Sunstein is one of the leading legal scholars of his generation and this is an extremely timely subject, particularly in this era of regulatory embattlement."--Carol Rose, Yale Law School "This is a thought-provoking and important contribution to current public policy debate. Highly recommended for libraries at all levels."--Choice "Sunstein's stature among legal scholars is tremendous; his previous books have reflected an admixture of pathbreaking, provocative scholarship on many key law and policy debates today. Free Markets and Social Justice represents a valuable and important contribution to Sunstein's impressive ouevre."--Daniel B. Rodriguez, University of California School of Law, Berkeley "Sunstein captures again and again in this provocative and insightful book the ways in which context and the nature of our humanity shape preferences, and so need to be accounted for (as markets cannot do) in a political system that seeks to be just. Fortunately for us, his luminescent career has developed at the University of Chicago, in the midst of colleagues whom, as he puts it, could TRY to teach him something about economics, but more importantly provoke and help him to hone the skeptical responses that have so consistently animated his influential scholarship. This collection of essays, revised and shaped to persuasive unity, will be enormously helpful to all who wish to explore the uses and abuses of market reasoning in the political and legal sphere."--Peter L. Strauss, Columbia University "Sunstein is a man of many ideas, and this book is a splendid introduction to them."--Bruce Ackerman, Yale Law School "Sunstein draws on his profound understanding of both economic theory and cognitive psychology to provide fresh insights into a variety of public policy issues."--Greg Saltzman, Albion College "This is an excellent book. Sunstein is one of the leading legal scholars of his generation and this is an extremely timely subject, particularly in this era of regulatory embattlement."--Carol Rose, Yale Law School "This is a thought-provoking and important contribution to current public policy debate. Highly recommended for libraries at all levels."--Choice "Sunstein's stature among legal scholars is tremendous; his previous books have reflected an admixture of pathbreaking, provocative scholarship on many key law and policy debates today. Free Markets and Social Justice represents a valuable and important contribution to Sunstein's impressive ouevre."--Daniel B. Rodriguez, University of California School of Law, Berkeley "Sunstein captures again and again in this provocative and insightful book the ways in which context and the nature of our humanity shape preferences, and so need to be accounted for (as markets cannot do) in a political system that seeks to be just. Fortunately for us, his luminescent career has developed at the University of Chicago, in the midst of colleagues whom, as he puts it, could TRY to teach him something about economics, but more importantly provoke and help him to hone the skeptical responses that have so consistently animated his influential scholarship. This collection of essays, revised and shaped to persuasive unity, will be enormously helpful to all who wish to explore the uses and abuses of market reasoning in the political and legal sphere."--Peter L. Strauss, Columbia University "Sunstein is a man of many ideas, and this book is a splendid introduction to them."--Bruce Ackerman, Yale Law School "Sunstein successfully and eloquently lays out weighty arguments without making them seem ponderous."--Booklist "...coherent and pertinent.."--The Law and Politics Book Review "It is...a very clean and exquisitely written catalogue of the insights."--Journal of Economic Literature "This is an excellent overview of law and several public policy areas such as health, environment, information, and technology....the analysis of economics of law is well contrasted with constitutionalism to analyze "new public management" policies."--Brad Chilton, University of Toledo

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Book SynopsisOver the last decade, market-based incentives have become the regulatory tool of choice when trying to solve difficult environmental problems. Evidence of their dominance can be seen in recent proposals for addressing global warming (through an emissions trading scheme in the Kyoto Protocol) and for amending the Clean Air Act (to add a new emissions trading systems for smog precursors and mercury--the Bush administration''s Clear Skies program). They are widely viewed as more efficient than traditional command and control regulation. This collection of essays takes a critical look at this question, and evaluates whether the promises of market-based regulation have been fulfilled. Contributors put forth the ideas that few regulatory instruments are actually purely market-based, or purely prescriptive, and that both approaches can be systematically undermined by insufficiently careful design and by failures of monitoring and enforcement. All in all, the essays recommend future research that no longer pits one kind of approach against the other, but instead examines their interaction and compatibility. This book should appeal to academics in environmental economics and law, along with policymakers in government agencies and advocates in non-governmental organizations.

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Book SynopsisLetters of credit and bank guarantees are the most important financial instruments in international exchange. Matti S. Kurkela, a leading expert in the field, presents an advanced, extensive study and guide to letters of credit. The author analyzes the material rules and principles applicable to them; conflict of laws as well as law merchant applied regardless of place of operation or nationality of the parties involved. Letters of Credit and Bank Guarantees under International Trade Law is the only true guide whose focus is on international law and choice of applicable law, with comparisons of the UCP, the UCC and selected national laws. Bank attorneys, international bankers, commercial bankers, international trade and finance attorneys in law firms, in-house counsel, financial institutions, and academia will find this a clearly written, invaluable guide to the latest rules, case law and practice relating to these financial instruments. The new, expanded Second Edition includes: Trade ReviewMatti Kurkela has given practitioners, courts, and scholars a fine comparative study. Its heavy annotation of world-wide letter of credit and guarantee law sources with special emphasis on European and U.S. commercial law make it a genuinely unique offering. In this second edition, Kurkela once again emphasizes the law merchant dimensions of these commercial facilities that he calls 'independent offerings'. The scope is broad, the treatment deep. For those serious about letters of credit and bank guarantees, this treatise is a rich resource. * John F. Dolan, Distinguished Professor of Law, Wayne State University *Letters of credit and bank guarantees are useful as payment mechanisms and financial security in international trade. Kurkela in his book has achieved a very useful and analytical study of these various arrangements and their legal surrounding. This study provides the reader with thorough knowledge of the different arrangements and how they have been treated in different jurisdictions mainly English and American but based on the Practices and Rules which have evolved in international trade law. - Lars Gorton, Professor of International Business Law, Stockholm School of Economics, Department of LawTable of ContentsChapter 1: Introduction ; Chapter 2: Interplay of Lex Mercatoria, Private International Law, and National Law ; Chapter 3: The Instrubments and "Contractual" Patterms ; Chapter 4: Choice of Law ; Chapter 5: Lex Mercatoria and Landmark Case Law ; Chapter 6: Issues Beyond the Scope of Lex Mercatoria ; Chapter 7: Rights to Reimbursement Doctrine ; Chapter 8: Jurisdictional Issues ; Chapter 9: Choice of Law in Light of Case Law

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Book SynopsisThe letter-books of the Royal African Company of England form the most substantial and important source of material on English trade in West Africa in the late seventeenth century. The original texts, covering the period 1681-1699, are being published in full in three or four volumes. This first volume contains the letters for the years 1681-1683.Trade ReviewRobin Law is to be commended for editing the Rawlinson collection in an important, scholarly, three-volume set. * African Affairs *

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Book SynopsisWhat are the economic prospects of European regions in a globalizing world? One view suggests that European regions will be overwhelmed by global forces; another suggests the rise of a new localism leading to a Europe of the regions. This book argues that neither of these accounts is correct. The authors offer detailed accounts of the local economies of Baden Wüttemberg, Emilia-Romagna, Switzerland, and Eastern Germany amongst others to support their view. In so doing they discuss a number of important and topical issues: industrial districts and their distinctiveness, organizational flexibility, regional economic planning, and the role of transnational companies.Through the application of an institutionalist perspective which stresses the importance of institutionalizing processes within the economy, the chapters in the book argue that regional economic prosperity will depend upon the degree to which regions are able to mobilize flexible institutional strategies. The book concludes thTrade ReviewI enjoyed reading this book because it conveys important messages about European regions ... the editors have worked hard to ensure continuity and development ... the book makes a significant contribution to our understanding of European and global geography. * Geography *This closely-edited collection is an important contribution ... Like any good read, the book ends up posing almost as many questions as it answers ... This is a stimulating and thought-provoking text ... Whilst written in subtle and sophsticated prose, it is clear to read and the arguments are well-explained; as such, it is worth persevering with, even for those who might normally look to source material in other languages. * European Urban and Regional Studies *I enjoyed reading this book because it conveys important messages about European regions ... the books makes a significant contribution to our understanding of European and global geography. * Geography *In recent years considerable research effort has been expended in an exploration of the tensions between international economic processes and changing prospects for regional development. This closely-edited collection is an important contribution to that debate ... This is a stimulating and thought-provoking text. * European Urban and Regional Studies *This book firmly establishes its position within the new institutionalist cam,.but at the same time it represents an attempt to forge a unique geographical dimension to the debate ... this book is a model of presentation and editing ... Amin and Thrift present a carefully honed introductory chapter that both contextualizes and attempts to bring together all of the contributors under a coherent intellectual umbrella. Individual chapters demonstrate both a depth and range that is illuminating, each chapter has a similar structure with a clear introduction and conclusion, the whole collection is then tied up with a closing chapter by the editors. * Andy C. Pratt, London School of Economics and Political Science, TIBG, August 1996 *Table of ContentsPreface and Introduction ; Living in the Global ; The Local Embeddedness of Transnational Corporations ; Global Agro-Food Complexes and the Refashioning of Rural Europe ; The Uneven Landscapes of Innovation Poles: Local Embeddedness and Global Networks ; Growth Regions Under Duress: Renewal Strategies in Baden Wurttemberg and Emilia-Romagna ; Flexible Districts, Flexible Regions? The Institutional and Cultural Limits to Districts in an Era of Technological Paradigm Shifts ; Regulating Labour: The Social Regulation and Reproduciton of Local Labour Markets ; The Disembedded Regional Economy: The Transformation of East German Industrial Complexes into Western Enclaves ; Institutional Change, Cultural Transformation, and Economic Regeneration: Myths and Realities from Europe's Old Industrial Areas ; Local and Regional Broadcasting in the New Media Order ; Global-Local Social Conflicts: Examples from Southern Europe ; Holding Down the Global

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Book SynopsisMacro Markets puts forward a unique and authoritative set of detailed proposals for establishing new markets for the management of the biggest economic risks facing society. Our existing financial markets are seen as being inadequate in dealing with such risks and Professor Shiller suggests major new markets as solutions to the problem. Shiller argues that although some risks, such as natural disaster or temporary unemployment, are shared by society, most risks are borne by the individual and standards of living determined by luck. He investigates whether a new technology of markets could make risk-sharing possible, and shows how new contracts could be designed to hedge all manner of risks to the individual''s living standards. He proposes new international markets for perpetual claims on national incomes, and on components and aggregates of national incomes, concluding that these markets may well dwarf our stock markets in their activity and significance. He also argues for new liquiTrade ReviewThe book is fresh, provocative, well written, and well argued. I recommend it not only to financial and macro-economists, but to the larger economic community interested in the character and costs of business cycles. * Journal of Economic Literature *[This] book, unique in its approach...offers an unusual combination of passionate advocacy with precise theoretical reasoning...this book will focus the attention of economists on the idea of constructing risk markets and probably recruit not a few to Schiller's active programme of market creation. * The Economic Journal economists *Table of Contents1. Introduction ; 2. Psychological Barriers ; 3. Mechanisms for Hedging Long Streams of Income ; 4. National Income and Labour Income Markets ; 5. Real Estate and Other Markets ; 6. The Construction of Index Numbers for Contract Settlement ; 7. Index Numbers: Issues and Alternatives ; 8. The Problem of Index Revisions ; 9. Making It Happen ; Notes ; References ; Author Index ; Subject Index

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Book SynopsisA third edition of the highly successful analysis of politics and economics in the European Union. Fully revised and updated, this edition continues to provide an ideal introduction to the economic issues surrounding the EU, and an understanding of the political forces involved.Trade ReviewTsoukalis very successfully integrates political and economic approaches to understanding EU economic integration and covers a broad range of topics in his work./Y. Akbar/Regional Studies, Vol. 32.2.The author raises some fundamental questions regarding the future of the EU and the widening gap between economic and political integration. * European Access *Table of Contents1. Searching for Things New and European ; 2. The Early Ups and Downs of European Integration ; 3. Treaty Revisions and the New Economic Orthodoxy ; 4. From Customs Union to the Internal Market ; 5. The Political Economy of Liberalization and Regulation ; 6. Social Policies and Labour Markets ; 7. Building a Regional Currency System ; 8. Towards Monetary Union ; 9. Cohesion and Redistribution ; 10. European or Global Power? ; 11. Ten Theses on Integration ; Contributors

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Book SynopsisThe deregulation and disintermediation process, the globalization of financial markets, the emergence of new competitors, and the introduction of new information technologies have brought about profound changes in the banking industry. Banks have lost market share and show decreasing economic performance. In the wake of this Professor Canals addresses several important questions: are universal banks bound to disappear? What is the role of universal banks in modern financial markets? What should banks'' strategic reactions be to those changes in the industry?Table of Contents1. THE TRANSFORMATION OF THE BANKING INDUSTRY AND THE THEORY OF FINANCIAL INTERMEDIATION ; 2. CAPITAL MARKETS VERSUS BANK INTERMEDIATION ; 3. THE SEPARATION BETWEEN COMMERCIAL AND INVESTMENT BANKING: THE CASE OF THE UNITED STATES ; 4. UNIVERSAL BANKS VERSUS SPECIALIZED BANKS ; 5. UNIVERSAL BANKS AND BANK/NON-FINANCIAL COMPANY GROUPS ; 6. GERMANY: THE RELATIONSHIP BETWEEN BANKS AND NON-FINANCIAL COMPANIES ; 7. THE JAPANESE MAIN BANK SYSTEM AND ITS INFLUENCE ON INDUSTRY ; 8. THE SPANISH FINANCIAL MODEL ; 9. THE INTERNATIONALIZATION OF BANKING ; 10. NEW ORGANIZATIONAL PATTERNS IN BANKING ; 11. UNIVERSAL BANKS, SPECIALIZED BANKS, AND THE REGULATION OF FINANCIAL SERVICES ; 12. THE FUTURE OF BANKING: SOME FINAL IDEAS

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Book SynopsisThis volume investigates the durable nature of financial institutions, from the Middle Ages to the present day, and argues that reform should take place through innovation in institutional design rather than regulation.Trade ReviewTwo geography scholars offer an excellent study of global finance, specifically the global processes of financial intermediation. * Choice *Table of Contents1: Global Financial Networks: What They Are and Where They Come From 2: The Paradox of Sticky Power 3: The End of Investment Bank Capitalism? An Economic Geography of Financial Jobs and Power 4: The Dark Side of NY 5: From the Euromarket to the Great Inversion: The Political Geographic Paradox of Offshore Banking 6: Culprits or Bystanders? Offshore Securitization Centers and the Global Financial Crisis 7: Regional Blocks and Imperial Legacies: Mapping the Global Offshore FDI Network 8: Capitalist Tools in Socialist Hands ? China Mobile in the Global Financial Network 9: Asset Management as a Digital Platform Industry: A Global Financial Network Perspective 10: A Great Transformation?

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Book SynopsisFrederick Guy''s The Global Environment of Business offers a multi-dimensional analysis of the environment in which international business operates. International: How do multi-national corporations, nation states, regional trade blocs, markets, and global institutions interact to shape the international economic system? Who wins and who loses when the economy internationalizes? Is internationalization leading to a global world, or a regional one? How will efforts to curtail and adapt to climate change affect international business?Technological and historical: How has the business environment been shaped by production systems, new methods of business organization, information and communication technology, transport, and the process of technological change itself?Comparative: How do institutional differences affect national specialization and economic performance? How do the business systems of Europe differ from that of the United States, or those of East Asia from those of Latin America? Why do location and face-to-face contact matter in an age of high-speed communication and cheap long-distance transportation? Why have some countries grown so fast while others remain poor?The Global Environment of Business draws on extensive research by economists, political scientists, sociologists, geographers, and business historians. There is more theory and academic debate here than in most books on the subject, but it is presented and explained clearly, and illustrated with lots of examples.Trade ReviewThe author has done the student and the general reader a great favor by weaving together many contributions into a single highly readable book...I am hopeful that many lecturers will chose to stretch into disciplines outside their specialties to make the best use of this uniquely integrative approach. They will be offering the student a rewarding educational experience. * Michael H. Best, Journal of International Business Studies *The book is a remarkable effort to provide an explanation of the current configuration of international business. Namely it tries to answer two key questions: What are the roots of the global corporation? Why did the Nation State accept to enter into a system of integrated markets?...this book should be part of any modern course on international business and/or globalization. * Francesco Bogliacino, Universidad EAFIT and RISE Group writing for Journal of Economics *This thoroughly researched, well written volume provides an extensive and careful investigation of how the complex relationship between policy, technology and the international business system has evolved in time. The approach is multidimensional, blending in a successful way international economics and international business with political economy and economic history. * Francesca Sanna-Randaccio, Professor of Economics, Dipartimento di Informatica e Sistemistica, University of Rome La Sapienza, Italy *The Global Environment of Business is a fine text offering an analysis of the environment in which international business operates. From how multi-national corporations and nation states interact to shape the international economic system to how the economy internationalizes and how this can lead to a global world or a regional focus, this is packed with technological and historic assessments based on economic research and political science alike: perfect for any college-level business library. * Midwest Book Review *A unique book on international business providing all essential insights to comprehend the driving mechanisms of economic globalization. The clear presentation of the key intuitions of international trade theory makes this manuscript a main reference for all international business economists. * Cecilia Jona-Lasinio, Lecturer, Department of Economics, Luiss University, Rome, Italy15/04/2010 *I highly recommend, Frederick Guys The Global Environment of Business. It is rare to see a book that with such intellectual depth and breadth that can serve as a course textbook. * William Lazonick, Professor, Department of Regional Economic and Social Development, and Director, Center for Industrial Competitiveness University of Massachusetts Lowell, USA15/04/2010 *This is really the best textbook for a graduate student who studies the world economy. I will use it in my course. * Hiroyasu Uemura, Professor of Economics, International Graduate School of Social Sciences, Yokohama National University, Japan *Table of ContentsPART I: BACKGROUND: TECHNOLOGY, BUSINESS ORGANIZATION, AND POLITICS ; 1. High Fixed Costs, Mass Production, and the Origins of the Large Corporation ; 2. Globalization Comes and Goes: the End of Free Trade in the Late 19th Century ; 3. Mass Production and Lean Production ; PART II: GLOBALIZATION ; 4. Globalization ; PART III: DIFFERENT WAYS OF DOING BUSINESS ; 5. Clusters: Location in the Global Economy ; 6. Varieties of Capitalism ; 7. Up From Poverty: Some Issues in Economic Development ; PART IV: THE FUTURE ; 8. Regionalism, the Natural Environment, and the End of Global Market Liberalization

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Book SynopsisPost-conflict economic reconstruction is a critical part of the political economy of peacetime and one of the most important challenges in any peace-building or state-building strategy. After wars end, countries must negotiate a multi-pronged transition to peace: Violence must give way to public security; lawlessness, political exclusion, and violation of human rights must give way to the rule of law and participatory government; ethnic, religious, ideological, or class/caste confrontation must give way to national reconciliation; and ravaged and mismanaged war economies must be reconstructed and transformed into functioning market economies that enable people to earn a decent living.Yet, how can these vitally important tasks each be successfully managed? How should we go about rehabilitating basic services and physical and human infrastructure? Which policies and institutions are necessary to reactivate the economy in the short run and ensure sustainable development in the long run? WTrade ReviewDel Castillo provides a thoroughly sensible policy framework for countries in which a state-based order is in prospect, provoking an overdue debate. * Alex de Waal, Times Literary Supplement *Table of ContentsList of Abbreviations ; Foreword ; Introduction: Reconstruction off track ; PART I: WAR-TO-PEACE TRANSITIONS ; 1. Features of Recent Transitions ; 2. Debate on the Economic Consequences of Peacetime ; PART II: POST-CONFLICT ECONOMIC RECONSTRUCTION ; 3. Definitions and Characteristics ; 4. Basic Premises for Policymaking ; PART III: INTERNATIONAL ASSISTANCE ; 5. The Multilateral Framework for International Assistance ; 6. Issues for debate on International Assistance ; PART IV: LESSONS FROM CASE STUDIES ; 7. UN-Led Reconstruction Following UN-Led Negotiations: El Salvador ; 8. UN-Led Reconstruction Following NATO-Led Military Intervention: Kosovo ; 9. UN-Led Reconstruction Following US Military Intervention: Afghanistan ; 10. US-Led Reconstruction Amid US-Occupation: Iraq ; PART V: A STRATEGY FOR RECONSTRUCTION: LESSONS, POLICY GUIDELINES, AND BEST PRACTICES ; 11. Setting the Stage ; 12. Basic Institutional Framework ; 13. National Reconciliation Efforts ; 14. Macroeconomic Policymaking ; 15. Microeconomic Policymaking ; Concluding Remarks: Putting reconstruction on track ; Notes ; Bibliography

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Book SynopsisThis is a book about Washington Consensus capitalism and the controversies its encroachment causes in Japan and Germany. Many people in both those countries share the assumptions dominant today in Britain and America-that managers should be intent solely on creating shareholder value and that shareholders'' financial logic alone should determine who buys what company on the stock exchange. That way efficiency (and hence global welfare) will be maximized.The Japanese and German advocates of full-bloodied market capitalism are not having it all their own way, however. In both countries there are articulate defenders of what they consider to be a better way of life, informed by a more human, more social-solidary, set of values. Dore traces the fascinating debates which ensue on corporate governance, on worker rights, on supplier relations, on cartels and anti-trust, on pensions and welfare. He also analyses actual changes in economic behaviour-an essential means of sorting out a lot of thTrade ReviewInsightful. * Financial Adviser *Interesting insights ... Dore has written a fascinating book on an important subject. There are so many middle-of-the-road books on the assumed merits of the Anglo-American model that it is indeed welcome, necessary and timely to see the other case made. The book deserves many readers, and they will be rewarded by highly stimulating and thought-provoking ideas and interpretations ... were it not for his commitment and involvement, we might have missed some of the most remarkable scholarship on Japan in recent decades. * Social Science Japan Journal *Professor Dore has written a thoughtful and provocative book on how global capitalism may evolve. Whether or not you agree with him - and many economists and CEOs will not - if you are interested in the future of the world economy, you should read this book. * Jeffrey E. Garten, Dean, Yale School of Management *Table of ContentsPART I. THE ORIGINAL JAPANESE MODEL ; PART II. CHANGE AND CONTROVERSY IN JAPAN ; PART III. GERMAN PARALLELS ; PART IV. CONCLUSION

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Book SynopsisThe stagnation of the Japanese economy and the ageing of Japanese society has led to major changes in the labour market in Japan. This comprehensive study looks at how the Japanese employment system is adapting to its new economic environment. Using the latest statistical evidence, the book focusses on the growing use of part-time and other forms of atypical employment relationships and illustrates how this is expressed in several different parts of the labour market. Particular attention is given to the changing situation of women, the decline of the family enterprise, the problems faced by older workers and the poor prospects for recent high school graduates. The recent rise in unemployment, including hidden unemployment is analysed. Relations between management and employees in Japanese corporations are also becoming more individualistic with the introduction of performance-related pay and the declining importance of enterprise unions. As a result of these changes, the future may seTrade ReviewRebick does a masterful job of drawing on a wide range of published statistics and reports to cover major features of employment relations and their recent changes in Japan."The book is amazingly up-to-date and wide ranging in its coverage". * Journal of Japanese Studies *Rebick is to be saluted for his magnificent presentation of so many issuesa superb English-language guide on the Japanese labor market. I recommend it to all readers with an interest in Japanese employment issues. * Social Science Japan Journal *Table of Contents1. Introduction ; 2. The Japanese employment system ; 3. Changes for regular employees ; 4. Non-standard employment ; 5. Industrial relations ; 6. Unemployment and inequality ; 7. Women ; 8. Older workers ; 9. Youth ; 10. The declining labour force ; 11. Conclusions and prospects

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Book SynopsisThis Study Guide complements van Marrewijk: International Trade and the World Economy, reviewing and deepening the student's understanding of the topics covered in the main textbook. It provides a set of questions relating to every chapter and these are sub-divided into four different types: review, empirical, simulation and technical questions.Table of Contents1. THE WORLD ECONOMY ; 4. PRODUCTION STRUCTURE ; 9. IMPERFECT COMPETITION ; 14. GEOGRAPHICAL ECONOMIES

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Book SynopsisIn Dynamism, Rivalry, and the Surplus Economy, János Kornai examines capitalism as an economic system and in comparison to socialism. Kornai explains his view of capitalism as an economy of surplus--a chronic excess of supply of goods and labor. This environment breeds rivalry among producers, which in turn encourages innovation. Socialism, on the other hand, is defined by a shortage of goods and labor and excess of demand. Whereas socialism is slothful and imitative, capitalism is dynamic and progressive. The two essays of this book will explore these differing ideologies on macro and micro levels, ending with definitive explanations of how the systems work and how they develop.Trade ReviewKornai is one of the most profound, inspiring and leading economists in the study of fundamential regularities in capitalism and socialism. The uniqueness of this book is the comparative perspective that reveals the features of capitalism by comparing it with its mirror image, socialism.The book provides general guidance and provokes throughts for studying capitalism. * Chenggang Xu, Journal of Economic Literature *Table of ContentsList of Tables ; List of Figures ; Preface ; First Essay: Innovation and Dynamism ; 1 Introduction ; 2 Capitalism, Socialism, and Technical Progress ; 2.1 Revolutionary new products ; 2.2 Following the pioneers, the diffusion of innovation ; 2.3 Innovative entrepreneurship under capitalism ; 2.4 The impossibility of innovative entrepreneurship under socialism ; 2.5 Political factors and technical progress ; 2.6 First summary: systems and technical progress ; 3 Transformation and the Acceleration of Technical Progress ; 3.1 New innovator entrepreneurs ; 3.2 The acceleration of follow-up and diffusion ; 3.3 Creative destruction ; 4 Reflection of Historical Reality in People's Minds ; 4.1 The basic phenomenon: lack of understanding ; 4.2 The responsibility of the economic profession ; 4.3 The responsibility of politicians ; 4.4 Interconnectivity and democracy ; 5 Concluding Remarks ; Second Essay: Shortage Economy - Surplus Economy ; 1 Introduction ; 1.1 Impressions ; 1.2 A first approach to clarification of concepts ; 1.3 The place the approach taken in the essay occupies in economic discourse ; 1.4 An advance look at the bounds of the subject-matter and its structure ; 2 The Market for Goods and Services: The Mechanism for the Reproduction of Surplus ; 2.1 An example from economic history: the US telephone system ; 2.2 Supply-related processes ; 2.3 Demand-related processes ; 2.4 The pricing process ; 3 The Market for Products and Services: The Conceptual Apparatus and ; Measurement Methods ; 3.1 <"Pure,>" easily handled cases ; 3.2 The first difficulty: continual mutual adjustment of supply and demand ; 3.3 The second difficulty: parallel occurrences of excess supply and ; excess demand ; 3.4 Diversion: observing the obstacles to and micro constraints on production ; 3.5 The third difficulty: distinguishing <"necessary>" from <"superfluous>" stocks ; 3.6 The fourth difficulty: unjustified aggregation ; 3.7 Pragmatic suggestions for measurement and a conceptual apparatus ; 3.8 Formation of synthetic indicators or <"composite indices>" ; 4 The Labor Market: The Mechanism for the Reproduction of Surplus ; 4.1 Conceptual clarification and measurement ; 4.2 The shock to the labor market caused by the change of system ; 4.3 <"Keynesian>" unemployment ; 4.4 Structural unemployment ; 4.5 Mismatched adjustment, frictional unemployment, and demand ; 4.6 The efficiency wage ; 5 A Summary of the Positive Description and Causal Analysis ; 5.1 The workability of the concept of <"equilibrium>" ; 5.2 Asymmetry ; 5.3 A summary account of the two demand-supply regimes ; 5.4 The generation of a surplus economy by the capitalist system: the causal chain ; 5.5 Genetic propensities ; 6 The Effect and Assessment of the Surplus Economy ; 6.1 A view of the effects and the value judgments ; 6.2 Innovation ; 6.3 The sovereignty and manipulation of the consumer ; 6.4 Productivity and coordination ; 6.5 Adaptation ; 6.6 Distribution of income and wealth ; 6.7 <"Materialistic>" and <"spiritual>" values ; 6.8 The direction of corruption ; 6.9 The advantages and drawbacks of capitalist competition, through the example ; of the automotive industry ; 6.10 A stand in favor of capitalism and the surplus economy ; 6.11 The scope for a theoretical synthesis and its constraints ; 6.12 The demand for mathematical models with explanatory force ; 7 Departures from the General Scheme ; 7.1 Fluctuations of the business cycle ; 7.2 The war economy ; 7.3 Historic changes and lasting tendencies in modern capitalism ; 8 A Personal Postscript ; Appendix ; References ; Index

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