International economics Books

Book Synopsis150 years ago, Belgium and Japan signed their first treaty. They have been important economic partners for each other ever since. As a result, the reciprocal exchange of artistic influence between these countries flourished: Belgian artists were inspired by 'Japanisme', while Japanse writers read the works of Maurice Maeterlinck and Emiile Verhaeren. After the devastating violence of World War II, these two countries' cooperation finally resulted in a solid alliance. This book invites its readers to focus on the cross-cultural exchanges that make the Belgian-Japanese relationship a fertile space for diplomacy, trade, and creativity.

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Book SynopsisLong before China promulgated the official One Belt One Road initiatives, vast networks of cross-border exchanges already existed across Asia and Eurasia. The dynamics of such trade and resource flows have largely been outside state control, and are pushed to the realm of the shadow economy. The official initiative is a state-driven attempt to enhance the orderly flow of resources across countries along the Belt and Road, hence extending the reach of the states to the shadow economies. This volume offers a bottom-up view of the transborder informal exchanges across Asia and Eurasia, and analyses its clash and mesh with the state-orchestrated Belt and Road cooperation. By undertaking a comparative study of country cases along the new silk roads, the book underlines the intended and unintended consequences of such competing routes of connectivity on the socio-economic conditions of local communities.Table of ContentsPreface List of Illustrations Abbreviations 1. Introduction: Informal Exchanges and Contending Connectivity along the Shadow Silk Roads Tak-Wing Ngo and Eva P. W. Hung 2. Fragmented Sovereignty and Unregulated Flows: The Bangladesh-China-India-Myanmar Corridor Willem van Schendel 3. In and Out of the Shadows: Pakistan-China Trade across the Karakoram Mountains Hasan H. Karrar 4. Circulations in Shadow Corridors: Connectivity in the Northern Bay of Bengal Samuel Berthet 5. Past and Present: Shadows of the China-Ladakh-Pakistan Routes Vaijayanti Khare 6. Formal versus Informal Practice: Trade of Medicinal and Aromatic Plants in Trans-Himalayan Silk Road Arjun Chapagain 7. Formal versus Informal Chinese Presence: The Underbelly of Hope in the Western Balkans Jelena Gledi? 8. State Approaches to Nonstate Interactions: Cross-border Flows in Xinjiang and Kazakhstan Olga Y. Adams 9. Integration in Post-Soviet Central Asia: Shadow-Economy Practices and the Cross-Eurasian Flow of Commodities Ivan Zuenko 10. In the Shadow of Constructed Borderlands: China's One Belt One Road and European Economic Governance Susann Handke 11. High-end Globalization and Low-end Globalization: African Traders across Afro-Asia Gordon Mathews Index

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Book SynopsisAmidst rising global inequality, migration, climate change, health pandemics, and deepening poverty, it is time to redirect our economy towards more sustainable and socially just processes and outcomes. In 'Wellbeing Economics' Nicky Pouw puts forward a new framework that places human wellbeing at the centre, instead of economic growth. She postulates ten reasons why economics should change to remain a relevant discipline and develops a Wellbeing Economic Matrix (WEM) to implement this approach. In doing so, it is one of the first economics books that 'rethinks the economy' from head to tail.Trade Review"a refreshing and insightful read for all those interested in a new form of doing economics, who will certainly find very important elements for such a project in this book" Nuno Ornelas Martins in The Journal of Development Studies

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Book SynopsisAcross the Chinese borderlands, investments in large-scale transnational infrastructure such as roads and special economic zones have increased exponentially over the past two decades. Based on long-term ethnographic research, Borderland Infrastructures addresses a major contradiction at the heart of this fast-paced development: small-scale traders have lost their historic strategic advantages under the growth of massive Chinese state investment and are now struggling to keep their businesses afloat. Concurrently, local ethnic minorities have become the target of radical resettlement projects, securitization, and tourism initiatives, and have in many cases grown increasingly dependent on state subsidies. At the juncture of anthropological explorations of the state, border studies, and research on transnational trade and infrastructure development, Borderland Infrastructures provides new analytical tools to understand how state power is experienced, mediated, and enacted in Xinjiang and Yunnan. In the process, Rippa offers a rich and nuanced ethnography of life across China’s peripheries.Trade ReviewWinner of the Political Geography Research Group (PolGRG) Book Award (2021-2022) "Carefully contextualized in the literature on Inner Asian borderlands and masterfully weaving in vivid ethnographic evidence, Rippa’s book provides a compelling account of how the BRI is worked “on the ground” by traders and state officials, by local histories of exchange, and by grand narratives of frictionless connectivity. It surely will become an inspiring source of information for scholars of western China’s borders, historians, social anthropologists, and human geographers alike."- Henryk Alff, Journal of Borderlands Studies (2022) "Borderland Infrastructures is a tour de force, and it should be required reading not only for researchers of contemporary China or the BRI, but also for anyone interested in the anthropology and geography of infrastructure, development, heritage, borders, and mobility"- Emily T. Yeh, The Journal of Asian Studies, Volume 80, Issue 4, November 2021 "Rippa’s analysis is a refreshing view from the ground, starkly positing the imageries of infrastructure development and social, cultural, political and ecological control used by the state with local worldviews about their transboundary connections spread over time, space and memory."- Mirza Zulfiqur Rahman, Asian Studies Review, August 2021 "Borderland Infrastructures is essential reading for anyone interested in BRI, infrastructure. [...] Ethnographically rich and theoretically engaging, the book will be particularly useful to anthropologists, geographers, and other social scientists invested in better understanding the uneven contours of China’s contemporary regional ambitions."- Geoffrey Aung, Eurasian Geography and Economics, April 2021 "Providing a rich and original conceptual framework for understanding the relationship between development processes and state power in China, Borderland Infrastructures is a highly recommended read for students and scholars across disciplines, including political and economic anthropology, borderland studies, development studies and Asian studies."-Henrik Kloppenborg Møller, The Copenhagen Journal of Asian Studies, 41(1), 2023Table of ContentsIntroduction Part I - PROXIMITY Chapter 1: Connections Interlude Chapter 2: Bridgehead Coda Part II - CURATION Chapter 3: Dependency Interlude Chapter 4: Heritage Coda Part III - CORRIDOR Chapter 5: Control Interlude Chapter 6: (Il)licitness Coda Conclusion Bibliography Index

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Book SynopsisThis book describes the process of the Czech economic transformation from the beginning of the 1990s to the country's entry into the European Union in 2004. This transformation is divided into four periods: an initial recession caused by the transformation; economic growth in the mid-1990s; a recession connected to the currency crisis of 1997; and recovery and growth from 1999 until 2004, when the analysis ends. The examination covers the main aspects of the transformation – an overall view of the process, political transition, economic policy, economic results (GDP development, inflation, unemployment), changes in outside indicators (balance of payments), privatization, transformation of the financial sector, and changes in the business sector and institutional development. The book also compares Czech development in this transformative era to those of Poland and Hungary. As in Hungary and Poland, the Czech Republic underwent an exceptional qualitative shift from a system centrally planned to one that was market-based. The book concludes that despite mistakes and hardships, the overall transformation process in Central Europe has been successful.Trade Review"People who are looking for facts and figures concerning the transformation of the Czech economy but are unfamiliar with the Czech language should definitely put Libor Žídek’s book on their reading list. Žídek’s book is a valuable option for an international readership interested in the Czech economic transformation. Moreover, offering a large number of facts and figures and being based on a wide range of secondary literature, it is a good starting point for anyone who wants to ‘dig deeper’ into one of the various aspects of the economic reforms and of the overall economic development in the 1990s." * Bohemia *Table of ContentsCONTENTS PREFACE 1 SITUATION IN CZECHOSLOVAKIA AT THE END OF THE 1980s 1.1 Economic outcomes of the socialist regime 1.2 Functioning of the socialist system 1.2.1 Main features of the planning system 1.2.2 Institutions 2 POLITICAL DEVELOPMENT 2.1 Overall evaluation of the political development 3 TRANSFORMATION PROCESS IN GENERAL 3.1 Transformation strategy 4 REFORM MEASURES AND ECONOMIC POLICY 4.1 1990–1993: basic transformation measures 4.2 1994–1996: growth phase 4.3 1997–1999: recession stage 5 BASIC ECONOMIC INDICATORS 5.1 1990–1992: transformation recession 5.2 1993–1996: recovery and boom 5.3 1997–1999: recession 5.4 1999–2003: recovery and growth 5.5 Output comparison 5.6 Unemployment 5.7 Inflation 6 EXTERNAL BALANCE 6.1 Foreign trade 6.1.1 Situation before 1989 6.1.2 Liberalization and subsequent development 6.1.3 Foreign trade development factors 6.1.4 Changes in foreign trade 6.2 Other items on the current account 6.2.1 Balance of services 6.2.2 Balance of revenues 6.2.3 Current transfers 6.3 Financial account 6.3.1 Foreign direct investment 6.3.2 Other components of the financial account 6.4 balance of payments: summary 6.5 Migration 7 CHANGE OF PROPOPERTY RELATIONS and PRIVATIZATION 7.1 Restitutions 7.2 Small privatization 7.3 Mass privatization 1991–1994, 7.3.1 Privatization Methods 7.3.2 Voucher privatization 7.3.3 Dispute about the mass privatization as a whole 7.4 Privatization after 1995 7.4.1 Privatization as such 7.4.2 Changes in ownership structure 7.5 Privatization results 8 BANKING SECTOR AND STOCK EXCHANGE 8.1 Banking sector before 1989 8.2 banking sector development at the beginning of the transformation 8.2.1 New banks 8.2.2 Special banks 8.2.3 Dispute about banking loans 8.3 Crisis in the banking sector 8.4 Healing of the banking sector 8.4.1 Government help 8.4.2 Privatization of banks 8.5 Stock exchange 9 ENTERPRISES DURING TRANSITION 9.1 Situation of enterprises at the beginning of the transformation 9.2 Impact of reforms on the enterprises 9.3 Establishing new enterprises 9.4 Restructuring of enterprises 9.4.1 Definition 9.4.2 Dispute about restructuring at the beginning of transformation 9.4.3 How did restructuring proceed? 9.5 Development in various spheres of business activities 10 DEVELOPMENT OF INSTITUTIONS 10.1 General institutional development 10.2 Development of formal versus informal institutions 10.3 Legal system 10.3.1 Development of the legal environment 10.3.2 Criticism of the legal environment 10.3.3 Law enforceability: System of courts 10.3.4 Measuring of the legal environment quality 10.4 Bankruptcy law 10.5 Corruption 10.6 Market environment: economic freedom 11 TRANSFORMATION IN HUNGARY 11.1 Long-term political development 11.2 Economic situation and development before 1989 11.3 Political development 11.4 Basis of economic transformation 11.4.1 Gradualist period 11.4.2 The Bokros package 11.4.3 Currency problems at the beginning of the twenty-first century 11.5 Privatization 11.6 Economic results 11.6.1 Economic growth 11.6.2 Structure of the economy 11.6.3 Inflation 11.6.4 Unemployment 11.6.5 External relationships 12 TRANSFORMATION IN POLAND 12.1 Long-term political development 12.2 Economic situation 12.3 Political development during the transformation 12.4 Basis of economic transformation 12.4.1 The Balcerowicz plan and the development that followed 12.5 Privatization 12.6 Development of the banking sector and the stock exchange 12.7 Economic results 12.7.1 Economic growth 12.7.2 Structure of the economy 12.7.3 Unemployment 12.7.4 Inflation 12.7.5 External relationships 13 FINAL ASSESSMENT 13.1 Broad issues 13.2 Specific issues Bibliography Index

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Book SynopsisIn this title, a well-known academic economist and former finance minister gives a lucid and well balanced overview of the current financial turbulences that have hit the developed economies. Strongly criticizing the excesses of neoliberal capitalism, Daianu calls for implementing necessary regulatory reforms in the financial sector and for restoration of a proper balance between the functions of the state and the market. Daianu goes back to some of the roots of the current crisis and the flaws or weaknesses of the global financial system. In doing so, he extensively discusses the monetary union of the Euro, and the critical question whether, how and when additional countries can and should join the club. This is a timely volume with a very strong and important warning.Table of ContentsForeword; Acknowledgements; Introduction: Return to Common Sense is Needed; Chapter 1. Institutional and Policy Diversity as an Engine of Economic Development; Chapter 2. Ethical Lapses of Capitalism: How Serious They Are; Chapter 3. Why is this Financial Crisis Occurring-How to Respond to It?; Chapter 4. What This Financial Crisis Tells Us; Chapter 5. A Strained European Model-Is Eastern Enlargement to Blame?; Chapter 6. The Monetary Union: The Decade Ahead. The Case of Non-Member States; Chapter 7. The EU Budget Review: Managing Diversity for a Growing EU; Chapter 8. A Clash of Capitalism; Chapter 9. Epilogue: Keynes Is Back; Appendices; Index

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Book SynopsisThis book provides a comprehensive introduction to international political economy and to the different trade and financial issues in the contemporary international system. The modern international political economy is characterized by globalization of production and finance. This book explains the growth and consequences of globalization from a historical and evolutionary perspective. It explores not only the long-standing issues of trade protectionism and financial stability, but also the newer issues of international labor standards, liberalization of investment regulations, and environmental protection. One of the greatest challenges of financial globalization is the potential for destabilizing national economies through a rapid outflow of capital, as seen recently in East Asia. In this book, the East Asian currency and debt crises are examined in relation to earlier crises in Latin America in the early 1980s and in Mexico in the mid-1990s. It will help readers to understand how politics and economics interact to produce the rules and structures of international political economy, and also to better appreciate the contemporary issues, crises, and challenges in international political economy.Table of ContentsIntroduction to international political economy; international trade - from the Gatt to the WTO; international monetary relations -Bretton Woods and beyond; protectionism, regionalism and the global economy; the transition economies - Russia and China; international debt crises; political economy of foreign investment; the political economy of environment management; the political economy of international labour standards.

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Book SynopsisThis book assesses the magnitude of the effects of trade liberalisation on welfare and the environment in the context of a small open economy, and the degree to which these effects are influenced by environmental policy. It is expected that the results of this study will provide some direction for trade and environmental policies, and will help to fill part of the empirical vacuum in this field. These results will be widely applicable to open-market-based economies and to countries embarking on major liberalisation programs.Table of ContentsTrade liberalization and the environment - theoretical issues and empirical evidence; trade and environment in New Zealand; a trade and environment focused multisectoral CGE model; simulation results from the multisectoral CGE model; summary and conclusions; data set construction, model calibration and elasticity specification.

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Book SynopsisThis is an elementary, up-to-date text and reference book in global finance. It has been especially designed for beginning students in economics and finance, and also for self-study by anyone with a knowledge of secondary school algebra and an interest in finance and financial markets. The subjects taken up in some details are stocks (shares), bonds, interest rates and derivatives, particularly futures, options, and swaps. There are also chapters on exchange rates and banking, and readers are provided with an elementary introduction to risk and uncertainty. The book is also an easily read supplement to more technical presentations, in that it introduces all categories of readers to real world financial markets.Table of ContentsThe World of Money; Banking and Banks; An Applicable Introduction to the Stock Market; Introduction Futures and Options; An Introduction to Exchange Rates; Interest Rates, Yields, and Bonds; Global Finance; Risk, Uncertainty, and Financial Assets; Into the 21st Century.

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Book SynopsisLatest Edition: From Adam Smith to Michael Porter: Evolution of Competitiveness Theory (Extended Edition)Traditionally, a nation's international competitiveness has been explained by international trade theories originating from Adam Smith. However, today's global economy is too complicated to be explained by the traditional trade theories. Recently, Michael Porter of the Harvard Business School introduced a new competitiveness theory, the so-called diamond model. He differentiated his theory from the traditional trade theories by arguing that national prosperity is not inherited, but created by choices; in other words, national wealth is not set by factor endowments, but created by strategic choices. He showed different choices of creating wealth, which had been quite limited in the world of traditional trade theories. His diamond model has lately been extended by several scholars. This book highlights Porter's achievement by comparing it with those of traditional trade theorists and presents new developments of competitiveness theory. By discussing the “before” and “after” of Porter's theory, the authors provide the reader with a holistic picture of competitiveness theory.

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Book SynopsisThis comprehensive book presents a systematic and practically oriented approach to mathematical modeling in finance, particularly in the foreign exchange context. It describes all the relevant aspects of financial engineering, including derivative pricing, in detail. The book is self-contained, with the necessary mathematical, economic, and trading background carefully explained. In addition to the lucid treatment of the standard material, it describes many original results.The book can be used both as a text for students of financial engineering, and as a basic reference for risk managers, traders, and academics.Table of ContentsIntroduction: Foreign Exchange Markets; Mathematical Preliminaries: Elements of Probability Theory; Discrete-Time Stochastic Engines; Continuous-Time Stochastic Engines; Discrete-Time Models: Single-Period Markets; Multi-Period Markets; Continuous-Time Models: Stochastic Dynamics of Forex; European Options: The Group-Theoretical Approach; European Options, the Classical Approach; Deviations from the Black-Scholes Paradigm I: Nonconstant Volatility; American Options; Path-Dependent Options I: Barrier Options: Path-Dependent Options II: Lookback, Asian and other Options; Deviations from the Black-Scholes Paradigm II: Market Frictions; Future Directions of Research and Conclusions.

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Book SynopsisThis book presents articles that focus on the inter-related issues of choice of exchange rate and monetary policy regimes, and others that use a global macroeconomic model developed by the author and collaborators to quantify the effects of the 'baby boom' on global imbalances, costs of disinflation, and the effects of German unification. The book presents new analysis of the euro-zone experience and its applicability to other monetary unions, as well as a discussion of the prerequisites for successful inflation targeting. It is grounded in real-world data, readily accessible to non-specialists, and addresses important economic policy issues.

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Book SynopsisBRICS countries, namely Brazil, Russia, India, China and South Africa (known as bloc), have been working closely together for more than a decade in areas as politics, economics, culture and security. The bloc plays a crucial role in facilitating the growth of not only emerging markets and developing countries, but also the world economy as a whole. Just as importantly, it contributes significantly towards improving global governance and the welfare of those living in BRICS countries. Contributed by more than 20 experts from major think tanks in BRICS countries, the chapters in this book analyze how the BRICS countries have realized shared prosperity and achieved global prominence by cooperating with one another. In addition, the authors also look at challenges faced by the bloc, and possible solutions to those problems.

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Book SynopsisThis book examines the economic, cultural and structural factors affecting China's economic growth, and expounds why China's economy has been so successful in the past, and the challenges that lie ahead for the country amidst the changing world, new challenges and uncertainties. The authors lay out their thoughts persuasively and powerfully, advocating changes that should be implemented in order to achieve a successful economic transformation of China's economy. Through an exchange of ideas among the four Chinese authors, each of whom hail from different backgrounds, practical solutions are presented in the book.

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Book SynopsisThe International Economics of Wine provides a broad range of studies by Professor Kym Anderson and his co-authors of the international trade dimension of national, regional and global wine market developments over the past quarter-century. Prior to 1990, barely 10% of global wine production crossed national borders, but now that figure is 40%. In that short period, wine has switched from being one of the world's least-traded agricultural products to one of the most traded internationally. This has created an unprecedented boom for consumers, who have also witnessed huge improvements in the quality and diversity of wines available.The chapters in this book shed light on the causes and consequences of the dramatic transformation of the world of wine. An economic model of the world's wine markets, based on newly compiled data, makes it possible to quantify the likely effects of changes in incomes, consumer preferences, tax and trade policies, and exchange rates. Differential changes in technologies and winegrape varieties, and the opening up of cooler wine regions, have also altered comparative advantages in wine.

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Book SynopsisIslamic Capital Markets: A Comparative Approach (2nd Edition) looks at the similarities and differences between Islamic capital markets and conventional capital markets. The book explains each topic from both the conventional and the Islamic perspective, offering a full understanding of Islamic capital markets, processes, and instruments. In addition to a full explanation of Islamic products, the book also ensures a holistic understanding of the dual markets within which Islamic capital markets operate.Ideal for both students and current practitioners, the second edition of the highly successful Islamic Capital Markets: A Comparative Approach fills a large gap in the current literature on the subject, featuring case studies from Malaysia, Indonesia, Europe, and the Middle East. One of the few comprehensive, dedicated guides to the subject available, the book offers comprehensive and in-depth insights on the topic of Islamic finance for students and professionals alike.

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Book SynopsisGlobal Corporate Finance, 3rd edition written by a son-father team, introduces students and practitioners to principles essential to the understanding of global financial problems and the policies that global business managers contend with. The objective of this book is to equip current and future business leaders with the tools they need to interpret the issues, to make sound global financial decisions, and to manage the wide variety of risks that modern businesses face in a competitive global environment. In line with its objective, the book stresses practical applications in a concise and straightforward manner, without complex treatment of theoretical concepts. Instructors who want students to possess practical, job-oriented skills in international finance will find this unique textbook ideal for their needs. Suitable for both undergraduate- and graduate-level courses in international finances, this book is clearly the 'go-to' book on one of the most important aspects of corporate finance.Supplementary materials are available to instructors who adopt this textbook.These include:

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Book SynopsisThe Chinese economy has been playing an increasingly significant role on the global stage. This book is the sixth annual project of Asia Competitiveness Institute studying competitiveness at the sub-national level of Greater China. ACI's flagship competitiveness study not only adopts a comprehensive framework to measure competitiveness by incorporating 102 indicators under four environments and 11 sub-environments, but is also undertaken at the sub-national level to account for the considerable disparities within a large economy like Greater China. The comparative strengths and weaknesses based on the scores and rankings as well as the what-if simulation analysis can be used to formulate development strategies that are specific and of practical value for each sub-national economy and region.The Shapley methodology adopted by ACI introduces a novel approach for the assignment of weights to the various indicators that constitute competitiveness. This concept has introduced an element of objectivity in terms of the assignment of weights. The findings using the Shapley value also tend to validate the robustness of results obtained from the competitiveness studies over the past years.Moreover, the empirical research featured in this book attempts to understand the drivers of exports of Mainland China provinces, with a specific focus on real effective exchange rate movements and volatility. Nowadays with the international flows of goods and capital becoming ubiquitous and comprising an important aspect of national competitiveness, the role of exchange rate is drawing much more policy attention. In view of this, the research findings presented in this book make an important academic and policy contribution by empirically examining the relationship between exports and exchange rate.Finally, the timing of this publication makes it indispensable to include some dedicated discussions of the trade disputes between the US and China. Several topics would be discussed in this book, including China's protection on Intellectual Property Rights, its violation of World Trade Organisation rules, challenges to its economic growth, the development of its three regional megalopolises, and how to mitigate the impact and ramification of its trade war against the US. This book attempts to identify the growing concerns in the US-China trade tension and provide suggestions for China's development in the future.

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Book SynopsisThis volume is a collection of the author's scholarly work spanning a quarter century of inquiry into the causes of international business cycles. It starts with an introduction to international business cycle research. Part I reviews salient business cycle facts relating to quantities, prices and the driving forces of business cycles. Part II focuses on the role of risk-sharing and asset market structure in shaping business cycles and welfare. Part III deals with relative prices and the terms of trade stressing retail distribution, information frictions, and the need to tie commodity-specific shocks to particular nations or world regions. Part IV is a collection of work focusing on the inefficiencies brought about by the Hawley-Smoot tariffs and foreign retaliation. Further, because the tariffs were often specific (nominal amounts per physical quantity imported), they interacted with monetary policy in a way that exacerbated the Great Depression.The book provides the reader with an overview of key developments in international business cycle research that build upon the pioneering work of Nobel Laureates Finn Kydland and Edward Prescott, who built the first dynamic stochastic general equilibrium model of the closed economy, patterned along the lines of the US economy. As globalization has extended the span of international economic relationships, these modeling approaches have become essential for understanding business cycles today. These models and empirical methods are particularly relevant to our understanding of how domestic innovation, productivity change or policy action (fiscal, monetary and trade-related) feeds back across economies.

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Book SynopsisThis book brings into focus India's relations with ASEAN and Thailand in particular. In the 1990s, India revived its relations with Southeast Asia. Yet, in comparison to China, India continued to be a distant neighbour. Hence, India has once again, through its 'Look and Act East' policies become intertwined with its immediate neighbours in the East, especially with Thailand. The objective of the book is to contextualise India's relations and influence in Southeast Asia over a period of nearly two thousand years, through culture and religion. The scope of the book extends beyond bilateral issues to include the multilateral, bringing in issues of trade negotiations under the Regional Comprehensive Economic Partnership (RCEP) and the Indo-Pacific construct. As ASEAN's importance grows in the regional and global landscape, there are ramifications for its relations with its traditional partners. The volatility and suspicion among the major powers, especially USA and China harbour the potential to disunite ASEAN. A rising India seeks a united and strong ASEAN both as a natural partner and in a bid to balance China's growing assertiveness and deep pockets. Based on interviews conducted with experts , diplomats and scholars in the field, this book encompasses a wide range of aspects that pertain to the historical, cultural, economic and strategic international relations of ASEAN and Thailand with India.

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Book SynopsisThe G20 (or Group of Twenty) is an international body established to manage the global economy, and includes members from developing economies.This reference set examines the issues facing developing countries and studies the role that the G20 can play in light of continuing challenges and objectives to meet the UN's Sustainable Development Goals (SDG).Volume 1 sets out the state of the world economy and the intricate functions of the G20 in policy coordination and economic cooperation. It also deals with the interests and strategies of some developing country members of the G20. These chapters answer questions such as what the country expects from the G20, the strategies adopted to achieve its ends, the extent to which it sees itself as a representative of developing countries in its region and how does it seek to represent them.The G20 has also centred its efforts around helping countries achieve the UN Sustainable Development Goals (SDGs). Volume 2 concentrates on trade issues and the prospects of achieving the SDGs. In this context, it examines whether the SDGs themselves are a desirable goal in terms of what the nature of development is which underlies these goals.

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Book SynopsisGlobalisation is considered a success story. Following the fall of the Berlin Wall and the dissolution of the political divides between East and West Germany, nothing seemed to stand in the way of peaceful cooperation between people everywhere. Under the precepts of economic liberalism, by removing institutional obstacles to international trade and capital flows, a spontaneous global order would emerge, and the dream of a world populated by free and prosperous global citizens would eventually come true.But in the wake of the worldwide financial crisis that began in 2007-2008, in the world of an ongoing Euro-Crisis, Trump and Brexit, it has become apparent that the great liberal project has failed. Neoclassical liberal economic theory has shown itself to be fundamentally incapable of explaining the dynamics of a market economy and in guiding economic policy in developed as well as in developing countries.Given the continuing dominance of that discredited theory today, the world lacks a viable conceptual framework for global cooperation among nations, and appropriate national economic policies. With this book, the authors show how such a framework can be built on the basis of a modern and empirically sound economic theory.

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Book SynopsisThis book proposes that the short-term goal of the current reform of the international monetary system should be a combination of controlling 'imbalances' and 'the risk of the dollar', namely using the balance of payments coordination mechanism to suppress risks by exchange rate cooperation. The reforms of international reserve currencies, international financial institutions, and international financial regulation provide a good external environment for the stable development of the world economy. The book discusses the mechanisms that will continue to support the hegemony of the US dollar and the US dollar system in the future, including the commodity dollar return mechanism, the international debt repayment mechanism, the petroleum dollar pricing mechanism and the dollar rescue mechanism in financial crisis. The book predicts that the current international currency system dominated by the US dollar will remain sustainable for a long time. Finally, the book proposes four strategies for China's participation in the reform of the international monetary system.

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Book Synopsis'Tom Prusa has shaped our understanding of contingent protection through his writings over the years. His penetrating and innovative analysis, has increased the awareness about the welfare implications of these instruments. He has for sure, transcended the ostensible. Bringing some of his best work under one roof, is a very welcome publication, a reference point indeed, for academics and practitioners alike.'Petros C MavroidisColumbia Law SchoolEconomic Effects of Antidumping is an invaluable book that reviews many of the key developments in the economic analysis of antidumping law over the past 25 years. Thomas Prusa was one of the earliest economists to examine the economics of antidumping and its consequences, and this volume contains many of his contributions to the field.This book provides a broad overview of the author's works, which include many significant findings, including the propensity and effects of settled cases, trade diversion, the effect of legal provisions such as cumulation and zeroing, pricing distortions, tit-for-tat use of the law, and contingent protection as insurance. This book is appropriate for both students in economics, public policy and law, and for policymakers in the field.

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Book SynopsisRecent Developments in Vietnamese Business and Finance, is the first volume in the series titled Vietnam and the Global Economy. This edited volume is a collection of papers presented at the International Conference on Business and Finance (ICBF) 2019, organized by the Institute of Business Research (IBR), University of Economics Ho Chi Minh City, Vietnam, and focuses on recent issues in business and finance with Vietnam as the main focus of study. The book covers various issues from innovation to gender equality and the banking sector, with analyses on the policies and managerial implications.

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Book Synopsis''Shastry's polemic cites extensive research from experts and exploits the author's knowledge of Asia and his connections to the region's elite, with whom he rubs shoulders at Davos and other summits. What shows through in the book though is Shastry's compassion for the continent's ordinary people.'IMF F&D MagazineAsia has been the greatest show on earth since Japan's rise from the ashes of World War II, accompanied in successive decades with the emergence of the Asian tigers, and eventually the two giants China and India. The Asian miracle has few precedents in the modern era, with billions lifted from poverty in a generation. The region's openness to trade and investment aligned perfectly with the tailwinds of globalisation. However, in recent years Asia has become a victim of its own success with commentators not differentiating between a utopian high-income Asia and a dystopian middle- and low-income Asia, where a significant majority of the region's population live. Asia today can be divided into countries which have a lot, have a little, and have none. The continent's dream run is also coming to an end as Covid-19 exposes sharp weaknesses in state capacity and structural challenges like the U.S.-China trade war is putting globalisation into reverse gear, jeopardising the region's hard-earned economic success. Asia's growth-obsessed policymakers have also ignored social pressures from the impact of technology on jobs, rising inequality, fabulous wealth accumulation by a favoured billionaire class, a deepening demographic divide, climate distress, and gender disparity, which threaten to destabilise the region's famed cohesiveness. In his penetrating new book, well-known Asia expert Vasuki Shastry argues that while Asia's reckoning may have been the subject of speculation before the pandemic, Covid-19 has made that inevitable. Inspired by Dante's Inferno, Shastry takes readers on a journey through modern Asia's eight circles of hell where we encounter urban cowboys and cowgirls fleeing rural areas to live in increasingly uninhabitable cities, disadvantaged teenage girls unable to meet their aspirations due to social strictures, internal mutiny, messy geopolitics from the rise of China, and a political and business class whose interests are in conflict with a majority of the population. Shastry challenges conventional thinking about Asia's place in the world and the book is essential reading for those with an interest in the continent's future.Related Link(s)Table of ContentsDysutopia: Greatest Show on Earth; Peak Asia; A Short Introduction to Dante; Eight Circles of Hell: Asia's Old Men; Middle Class Trap; Urban Cowboys ... and Cowgirls; Rent Seekers and other Oligarchs; The Death of Bali; To be a Teenage Girl in a Rising Asia; A million internal mutinies; Lessons from Stora Latina; Epilogue: An Asian Renaissance;

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Book SynopsisOn March 12th 2020, World Health Organization (WHO) declared the spreading of the new virus, 2019-nCoV, a pandemic. In Asia, the virus, more commonly referred to as COVID-19, has been spreading since the end of December. To contain the public health threat, almost all countries enforced a variety of measures, including lockdowns, to minimize face-to-face human interactions between the infected and the susceptible.While these vigilant measures save lives, they also generate a substantial negative economic shock that immediately halts demand and significantly disrupts supply, global production value chain and trade. The consequences are dire — considerable decline in output, massive surge in unemployment, countless bankruptcy cases, and unrelentless worries over financial stability. The result, a worldwide economic setback, is more severe than that experienced during the Great Financial Crisis of 2008-2009.Asia's experiences with COVID-19 precede that in the West. This fortuitous timing allows Asia to share its learnings drawn from experiences to benefit the world.The Asian Bureau of Finance and Economic Research's (ABFER) community has gathered a collection of insights to inform the public. Besides providing access to research on the pandemic conducted in Asia, these commentaries offer comprehensive information on the effects of the pandemic, the effectiveness of measures employed to contain it and the subsequent economic impacts from such implementation. With granular analyses of government policies and their associated economic rescue packages, these commentaries elucidate the hard trade-offs between public health protection and economic security. Finally, the commentaries address the broader impact of the pandemic on international trade, global value chains and society.Table of ContentsIntroduction: COVID-19: Collective Learning from the East (Sumit Agarwal, Zhiguo He and Bernard Yeung); Containing COVID-19 and the Effects : Economic Effects of Lockdown in China (Qin Chen, Zhiguo He, Chang-Tai Hsieh, and Zheng (Michael) Song); A First Look at China's Consumption after Coronavirus (Wenlan Qian); Public Policy Tools to Address the COVID-19 Pandemic: Health vs. Economy (Hanming Fang); Saving Lives versus Saving Livelihoods: Can Big Data Technology Solve the Pandemic Dilemma? (Kairong Xiao); Mitigating COVID-19 Risks to Sustain Growth (Harrison Hong, Neng Wang, and Jinqiang Yang); Pandemic and Panic: Government as the Supplier of Last Resort (Yi Huang, Chen Lin, Pengfei Wang, and Zhiwei Xu); Government Policies: Six Lessons for Public Health in the Fight Against COVID-19 (Hanming Fang); Containing the Virus or Reviving the Economy? Survey from China Provides an Answer (Keyang Li, Yu Qin, Jing Wu, and Jubo Yan); Dealing with a Liquidity Crisis: Economic and Financial Policies in China during the Coronavirus Outbreak (Zhiguo He and Bibo Liu); Policy Rx for the Economy: Cash or Credit (Deborah Lucas); Singapore: The State as Insurer of Last Resort (Joseph Cherian and Bernard Yeung); Singapore's Policy Response to COVID-19 (Danny Quah); Singapore's Coordinated Battle against the Pandemic (Weina Zhang and Ruth Tan); Ten Keys in Beating Back COVID-19 and the Associated Economic Pandemic (Shang-Jin Wei); Heuristics in Policymaking: It's Time to Figure Out what Drives Policy Uncertainty (Xiao Ji, Mengyu Wang, and Hong Zhang); What Comes to Mind: Some Reflections on COVID-19 (Yueran Ma); Implications on International Credit and Trade: The COVID-19 Pandemic Exposes Asian Banks' Vulnerability to US Dollar Funding (Cyn-Young Park and Peter Rosenkranz); The Impact of COVID-19 on Asia and the Future of Global Supply Chains (Bert Hofman); International Trade Has Suffered a One-Two Punch. Can It Recover After COVID-19? (Davin Chor); COVID-19 in the Global Production Network (Ben Charoenwong); Post-COVID-19 Reconfiguration of the Global Value Chains and China (Hanming Fang and Bernard Yeung); Concluding Remarks — A Post-COVID-19 World: Post-COVID-19, How Will We Be Better? (Danny Quah);

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Book SynopsisGlobalization is a complex phenomenon involving the mobility of goods, capital, labour and ideas across country borders. From an economic point of view, two waves of globalization have been identified by scholars so far. The first wave materialized between the second half of the Nineteenth century and WWI; the second wave rose after WWII and gained momentum at the end of the Twentieth century before slowing down in the aftermath of the global financial crisis due to renewed protectionist pressures. This collection of essays studies the implications of this second wave of globalization for national economic performance. In doing so, it takes a bottom-up approach, building up the macroeconomic trajectories from the microeconomic effects of globalization on firms and workers. The collected essays highlight the asymmetry of responses across firms and workers between and within industries as well as territories, thus explaining the forces behind the emergence of 'winners' and 'losers' from globalization. The collection shows how state-of-the-art models of international economics and economic geography can be brought to life by addressing several topical issues in the public debate, ranging from regional growth and regional decline to international competition and creative destruction, from innovation patterns to cultural diversity and from immigration to offshoring.

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Book SynopsisThis volume honors the extraordinary career of Thomas Hertel. It also celebrates the 25th anniversary of the founding of the Global Trade Analysis Project (GTAP) by Prof. Hertel. All of those contributing to this volume, including Prof. Hertel's students and colleagues, have benefitted in some ways from the selfless professional generosity and dedication to scientific public goods that have been hallmarks of his career.The book examines the history of the GTAP project, the scientific contributions of Prof. Hertel, and the general application of computational modeling to global economic policy analysis. The applications in the volume, reflecting the broad contributions made by the GTAP community to global policy analysis, range from the impact of globalization on employment to the sustainability impacts of economic integration.

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Book SynopsisWhy and how do politics, society and economics shape the growth and failure of labour markets? Does government intervention help or harm labour market reforms/adjustments in times of economic downturn? What forces drive such government intervention and do they differ from society to society?In addressing these big-picture questions, this book's analytical scope is heavily centred around the topic of labour markets' performance. The book argues that performance in labour markets across countries are influenced by their labour market policies. In turn, these policies are shaped, in varying degrees, by the country's politics. Each chapter in this book dives into the labour market experiences in various countries to demonstrate why in some countries, labour markets perform better than in other countries. Major findings from this book suggest that countries can produce better economic and social outcomes (e.g. lower socio-economic inequality) if their labour market policies are aimed at fostering a socially and politically stable society via greater equity in wealth distribution across various socio-cultural and income groups.This book is an essential read for any public policy researchers, policy practitioners and undergraduate/graduate students who are interested or vested in the topic of labour markets' performance in the political, social and economic dimensions. Particularly, this book provides a critical synthesis of the labour market experiences in many countries. Hence, the book serves as an ideational tool to advance future labour market research and policy.

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Book SynopsisHow has globalization through trade and foreign investment affected labour markets, wages, profits, and inequality? This fundamentally important question is addressed deeply in this volume, with methods ranging from microeconomic theory to econometric studies using detailed firm-level and household data. The primary objective of the volume, a compendium of important research performed by Ann Harrison and co-authors, is to study and understand whether and how workers, in both the United States and major developing and emerging countries, have fared in the recent era of massive globalization. There are plenty of anecdotes about such questions, but this volume develops testable hypotheses, collects essential data, and uses frontier techniques to provide the best and most systematic evidence available. Chapters range widely over standard and current trade theories, frontier thinking about the nature and effects of multinational enterprises and offshoring, and the critical roles of credit markets, international innovation and technology diffusion in driving employment, wage changes, and inequality. The volume also covers critical institutional matters, such as how globalization influences activism in securing labour rights. The analysis in the book is essential for understanding the complex and deep relationships among trade liberalization, foreign direct investment, technical change, and the fortunes of workers in increasingly globalized markets.

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Book SynopsisThe D-8 (Developing Eight) organisation was officially formed in 1997 and has Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey as full members. The D-8 economies encompass nearly 62% of the Muslim population or about 1.17 billion people globally. The economic, cultural, social, political and geographical diversity that exists amongst the D-8 member countries differs radically from other Muslim or regional blocks. Furthermore, D-8 member countries are developing economies that do not solely rely on oil, ancient civilizations, or roles as historical powerhouses, but their populations aspire to be better educated, scientifically more advanced, have higher incomes and improved human rights. It is imperative to study the implications of these developments for cultural identity and life quality. This book studies the contemporary socio-economic developments and challenges faced by D-8 countries. It explores questions on the socio-economic and political formation, sustainability, economic participation, and the vitality of the D-8 member countries. It deepens our understanding of recent global economic systems and governance, and suggests areas for future research and publications.

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Book SynopsisThis book takes stock of and analyzes the events during the Asian financial crisis (AFC) and subsequent developments, including the global financial crisis (GFC), that led to the development of the ASEAN+3 regional financial cooperation framework and the establishment of the ASEAN+3 Macroeconomic Research Office. The book is the first of its kind to compile comprehensive recollections of the major players during the AFC and the GFC, including country-level narratives on the causes and developments of the crises, and measures to overcome them. The book not only presents an analytical and deeper examination of country experiences during both crises, but also assesses the two crises and covers the lessons learnt from the crises, particularly with a focus on the development of regional financial cooperation. The book concludes with regional financial cooperation in retrospect, aiming to catalyze further discussions on the direction of the region's financial cooperation.

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Book SynopsisSince at least the Great Financial Crisis, authorities around the world have increasingly relied on macroprudential policy to help secure financial stability and complement monetary policy as an integral element of a broader macro-financial stability framework. In today's interconnected global financial system, policy actions taken by the major advanced economies can have spillovers on the rest of the world through their impact on capital flows and exchange rates, potentially generating vulnerabilities across borders. Conversely, in emerging market economies, macroprudential policy as well as foreign exchange intervention and/or capital flow management policy can help mitigate the corresponding impact. This can in turn generate spillbacks on advanced economies — spillbacks that have become more sizeable as the emerging market economies' heft in the world has grown. Yet little is known about these interactions.The contents of this book are based on a conference held on 26-28 May 2021 and jointly hosted by the Monetary Authority of Singapore (MAS) and the Bank for International Settlements (BIS). It aims to contribute to existing literature on macro-financial policymaking by providing an overall conceptual framework and documenting the latest global trends and country experiences. In particular, it highlights the role of international spillovers and spillbacks, paying particular attention to emerging market economies. This book is essential reading for academics, graduate students and economic professionals. It can also serve as a handbook for policymakers at central banks, regulatory authorities and other government agencies tasked with designing and implementing macroprudential or more generally macro-financial stability policies. The book will also be of interest to researchers at international organisations.

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Book SynopsisThis book provides a comprehensive and up-to-date examination of the functions that international banks perform and the environment under which they operate.The dynamic nature of the international banking environment requires researchers in the field to develop skills that allow them to i) understand the fundamentals of international banking and ii) effectively identify current challenges and opportunities. In this regard, this book helps to cultivate a deep understanding of modern international banking and finance.Part 1: The Fundamentals of International Banking presents the examinations of core international banking functions. The topics covered are the functions and types of international banking; the internationalisation of the US, Japanese and Chinese banks; international trade finance; the interbank foreign exchange and eurocurrency markets; and international loan syndication. Part 2: International Financial Crises and Secret Money builds on the discussions in the first part to help readers understand the implications for international banks of international banking and sovereign debt crises, financial secrecy and international money laundering.Suk-Joong Kim is Professor of International Finance and Banking at the University of Sydney Business School, The University of Sydney, NSW, Australia.

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Book SynopsisThis book explores the catching-up process of a group of large emerging markets: the New Economic Powers. This process is extremely robust and should be considered as the defining trend of our age, resulting in a pivotal change in world economics and politics. The outcome is that the West cannot dominate the world as it did in the previous 200 years. Today's world is pluralistic, and the larger emerging markets are becoming increasingly influential. That is the new reality, which at times caused, and will cause, further discomfort and uncertainty in the West. In the eight chapters, the viewpoints on globalization of nine New Economic Powers are discussed. Each chapter is an essential element in understanding the process of globalization and the role the New Economic Powers play in it. Essentially, their views are guided by a fundamental different look about the role of the market and the government in society, compared to what we see in the West. The New Economic Powers understand the power of the market to create prosperity, but at the same time emphasize the need for government interference. This delicate balance is particularly visible with respect to their international trade and investment policies, which bring them in conflict with Western countries and multilateral institutions such as the WTO and the IMF. The book helps the reader to understand the fundamental choices made by policymakers in the New Economic Powers.

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