International economics Books

Book SynopsisSince China's adoption of the “go global” strategy, more and more of China's privately owned enterprises have focused on outward foreign direct investment , and by doing so they have become the major market participants in China's internationalization process. This book presents authoritative academic and professional insights into the determinants of internationalization of China's indigenous privately owned enterprises. The case studies, in-depth interviews and investigations in this book will capture the interest of the readers and provide them with the background material and understanding of the determinants and possible pattern selection for internationalization of China's privately owned enterprises.

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Book SynopsisTrade Law, Domestic Regulation and Development is about the relationship between trade, regulation and development. By combining law and economics perspectives on the international trading system, Trachtman takes an interdisciplinary approach in analyzing the topic of globalization and economic development.In a developing economy, as globalization proceeds, a critical factor is the relationship between liberalization of movement of goods, services, and people, on the one hand, and the right to regulate, including the right to regulate for development, on the other hand. In the context of market access, all countries need the right to restrict imports of goods or services that may hurt consumers or the broader society, and developing countries sometimes need the ability to subsidize their own goods and services, or sometimes to restrict imports of goods or services, in order to promote development. Nonetheless, both developed and developing countries often fall into the trap of regulating for protectionist or corrupt reasons. Finding the right balance between market access and regulation is the subject of analysis in this collected volume of 16 papers by Trachtman, and presented in a manner that is accessible and interesting to both law and economics readers. In Trachtman's own words, 'The purpose of [international] trade law in this context [globalization] seems to be to allow states to agree to avoid creating these inefficient policy externalities, not to force all states to dance to the same tune.'

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Book SynopsisInternational Finance and Open-Economy Macroeconomics provides a complete theoretical, historical, and policy-focused account of the international financial system that covers all of the standard topics, such as foreign exchange markets, balance of payments accounting, macroeconomic policy in an open economy, exchange rate crises, multinational enterprises, and international financial markets. The book uses the 1944 Bretton Woods Conference as a unifying theme to relate the many controversial issue. It is written in a lively manner to bring real world events into the discussion of all of the concepts, topics, and policy issues. There is also emphasis on the history of economic thought in order to explain how economists in different time periods dealt with international financial issues.Table of ContentsThe Balance of Payments Accounts; The Foreign Exchange Markets; An Open-Economy Macroeconomic Model; Applications of the Open-Economy Macroeconomic Model; History of the International Financial System; The Euro Area; Multinational Enterprises and International Financial Firms; The 2007-2009 Financial Crisis; Financialization;

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Book SynopsisValue chain trade has challenged economic implications of conventional trade statistics and transformed bilateral trade relationships into multilaterals. Conventional trade statistics exaggerate trade volumes and bilateral trade imbalances. It is imperative to measure trade in value-added and examine trade relations in the context of global value chains. This book is a collection of research papers on new approaches to measure trade in value added and the role of global value chains in modern international trade. It introduces the input output method for measuring trade and a direct approach for measuring the domestic value added of the People's Republic of China — the center of global assembly. In addition, it shows how to analyze trade relations in the context of global value chains.Table of ContentsIntroduction (Yuqing Xing); Global Value Chains: Implications for Trade Statistics and Trade Policy (Christophe Degain and Andreas Maurer); OECD Inter-Country Input-Output Model and Policy implications (Norihiko Yamano); Measuring the Domestic Value Added of PRC's Exports: A Direct Approach (Yuqing Xing); An Alternative Measurement for International Fragmentation of Production Process: An International Input-Output Approach (Satoshi Inomata); Share of Imports and Commodities in US Consumption and Investment (Galina Hale and Bart Hobijn); Domestic Value Chains in PRC and their Linkages with the Global Economy (Bo Meng); The "Fox-Apple" Partnership in the Global Value Chain: How Did FDI and Contract Manufacturing Reshape the Landscape of the Electronics Industry? (Guoyong Liang);

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Book SynopsisWe live in an era of globalization: ever increasing international integration of goods, capital, and labor markets. The benefits and costs of increased trade and financial integration in the world today continue to be hotly debated. The reason globalization is controversial is that the impact of globalization is often nuanced, and theory reveals many possibilities. The impact of globalization on macroeconomic outcomes thus remains an empirical and quantitative question.Levchenko collects, in one volume, the results of a multi-year research program to build heterogeneous firm and sector models for the quantitative evaluation of globalization. The volume explores the impact of globalization on both welfare and macroeconomic fluctuations using these micro-founded quantitative models.Recent advances in international trade have built tractable theoretical models that can be implemented numerically and used to evaluate quantitatively the impact of a variety of phenomena. These models are global in scale — encompassing as many as 80 countries as well as multiple sectors — and at the same time feature rich micro-foundations of firm and technological heterogeneity. This combination means it is now possible to dramatically expand the set of questions that can be answered, in particular regarding the consequences of real-world heterogeneity present in the global economy, both at the firm and sector level.The book uses these frameworks to address the central questions about globalization around the world: the impacts of reductions in trade costs, long-run changes in comparative advantage, and migration of labor, among others. The book aims to provide a unifying perspective that merges traditional theory, econometric evaluation, and quantitative modeling. The running theme of this research program is that in order to understand the macroeconomic impact of globalization, it is essential to measure, and model, the microeconomic heterogeneity in the economy.Table of ContentsSectoral Heterogeneity: Ricardian Productivity Differences and the Gains from Trade (Andrei A Levchenko and Jing Zhang) The Global Welfare Impact of China: Trade Integration and Technological Change (Andrei A Levchenko, Julian di Giovanni and Jing Zhang) Comparative Advantage and the Welfare Impact of European Integration (Andrei A Levchenko and Jing Zhang) The Global Labor Market Impact of Emerging Giants: A Quantitative Assessment (Andrei A Levchenko and Jing Zhang) Space permitting: Comparative Advantage, Complexity, and Volatility (Andrei A Levchenko and Pravin Krishna); Firm Heterogeneity: Power Laws in Firm Size and Openness to Trade: Measurement and Implications (Andrei A Levchenko, Julian di Giovanni and Romain Ranciere) Firm Entry, Trade, and Welfare in Zipf's World (Andrei A Levchenko and Julian di Giovanni) Firms, Destinations, and Aggregate Fluctuations (Andrei A Levchenko, Julian di Giovanni and Isabelle Mejean) Country Size, International Trade, and Aggregate Fluctuations in Granular Economies (Andrei A Levchenko and Julian di Giovanni) Space permitting: A Global View of Cross-Border Migration (Andrei A Levchenko, Julian di Giovanni and Francesc Ortega);

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Book SynopsisWhile globalization of the Japanese economy has been advancing with astounding speed, significant differences remain between the management philosophy and techniques used within Japanese companies and those used in the West. These include the significant differences in the use of capital budgeting techniques, economic and political assessment of projects, decision-making styles, and techniques of corporate governance. Furthermore, Keiretsu (interlocking shareholdings) still plays an important role in the financing of companies in Japan. Such differences have a momentous impact on decision-making processes within companies.This case book illustrates many of the key differences that exist in the realm of corporate governance and finance. As one of the very few casebooks written in English on Japanese corporations, this book offers valuable insights into Japan's unique business culture.Table of ContentsTokyo Disneyland (1): Licensing versus Joint Venture; Tokyo Disneyland and the DisneySea Park (2): Corporate Governance and Differences in Capital Budgeting Concepts and Methods between American and Japanese Companies; A Rogue Trader at Daiwa Bank (A): Management Responsibility under Different Jurisprudential Systems, Practices, and Cultures; A Rogue Trader at Daiwa Bank (B): The Board Meeting on September 25, 1995, in Japan; Hostile Takeover Battle in Japan: Fuji TV versus Livedoor for NBS; Livedoor: The Rise and Fall of a Market Maverick; Nireco Japan: Introduction of the Poison Pill; Ina Food Industry: A New Management Philosophy for Japanese Businesses; OSG Corporation: Hedging Transaction Exposure; Bank of Japan's Meeting in March 2006: An End to the Quantitative Easing Policy?; World Co. Ltd, Japan: Why Go Private?; J-Com: Share-Trade Irregularities on the day of IPO; Softbank's New Strategy: The Largest LBO in Japan; Keidanren: Foreign Political Contributions in Japan; Tokyo Disneyland (3): New Strategies Needed for Sluggish Demand; Licensing Arrangement or Joint Venture - An Ex Post Case Study of Tokyo Disneyland (4); Ina Food Industry (2): Marketing Strategies in a Deflationary Environment; Bank of Japan (2): The Meeting on April 4, 2013 (Doubling Japan's Monetary Base via Government Bond Purchase); Abenomics of Japan: What was it? Could This Conquer Japan's A Decade Long Deflation?; Saizeriya and the Use of Foreign Currency Coupon Swaps: Was This for Hedging or Speculation?;

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Book SynopsisThis book analyzes in depth all major derivatives debacles of the last half century including the multi-billion losses and/or bankruptcy of Metallgesellschaft (1994), Barings Bank (1995), Long Term Capital Management (1998), Amaranth (2006), Société Générale (2008) , AIG (2008) and JP Morgan-Chase (2012). It unlocks the secrets of derivatives by telling the stories of institutions which played in the derivative market and lost big. For some of these unfortunate organizations it was daring but flawed financial engineering which brought them havoc. For others it was unbridled speculation perpetrated by rogue traders whose unchecked fraud brought their house down.Should derivatives be feared 'as financial weapons of mass destruction' or hailed as financial innovations which through efficient risk transfer are truly adding to the Wealth of Nations? By presenting a factual analysis of how the malpractice of derivatives played havoc with derivative end-user and dealer institutions, a case is made for vigilance not only to market and counter-party risk but also operational risk in their use for risk management and proprietary trading. Clear and recurring lessons across the different stories in this volume call not only for a tighter but also 'smarter' control system of derivatives trading and should be of immediate interest to financial managers, bankers, traders, auditors and regulators who are directly or indirectly exposed to financial derivatives.The book groups cases by derivative category, starting with the simplest and building up to the most complex — namely, Forwards, Futures, Options and Swaps in that order, with applications in commodities, foreign exchange, stock indices and interest rates. Each chapter deals with one derivative debacle, providing a rigorous and comprehensive but non-technical elucidation of what happened.What is new in the second edition? A new chapter on JP Morgan-Chase's London Whale, an in-depth discussion of credit-default swaps, and an update of the revamped regulatory framework with Basel 2.5 and Basel III against the backdrop of the Euro crisis, along with a revised and expanded discussion of the AIG debacle.Table of ContentsDerivatives and the Wealth of Nations; Forwards: Showa Shell Sekiyu K K; Citibank's Forex Losses; Bank Negara Malaysia; Futures: Amaranth Advisors LLC; Metallgesellschaft; Sumitomo; Options: Allied Lyons; Allied Irish Banks; Barings; Societe Generale; Swaps: Procter and Gamble; Gibson Greeting Cards; Orange County; Long-Term Capital Management; AIG; From Theory to Malpractice: Lessons Learned;

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Book SynopsisInternational Economics: Global Markets and Competition integrates the microeconomics of international trade with open economy macroeconomics and finance. The theory is comprehensive but presented with intuitive diagrams. The book emphasizes the gains from international competition and the limits of trade policy.Economics began during the Industrial Revolution with a debate over import tariffs. To this day, domestic industries lobby for tariff protection against foreign competition, paying lawmakers for tariffs on imports. Only under special conditions do tariffs lead to economic gains. Domestic importers of materials and industrial products favor free trade, as do export industries since tariffs encourage other countries to retaliate with tariffs of their own.Trade theory includes market analysis and general equilibrium models of the economy. This text integrates the full range of trade theory with exchange rates, balance of payments, international finance, and open economy growth and macroeconomics.The presentation focuses on diagrams and avoids equations and algebra. The theory is presented with numerical examples. The text does not assume intermediate economics, instead developing the theory with thorough explanations. Questions in each section build confidence in applying the theory. Boxed examples illustrate the importance of the theory.Students like the concise and straightforward style. Instructors notice the difference on exams.Table of ContentsTrade and Protectionism: Markets and International Trade; Gains from Trade; Protectionism; The Terms of Trade; Production and Trade: Constant Cost Production and Trade; Factor Production and Trade; Trade and Industrial Organization; International Economic Integration: Migration and International Captial; International Integration; International Macroeconomics: Balance of Payments; Foreign Exchange Rates; International Money and Financial Markets; Open Economy Macroeconomics;

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Book SynopsisWith the rapid increase in China's overseas investment and trade, China's global economic clout is increasing by the day. Does China's global economic reach make it an empire in the 21st century? What sort of impact will China's trade and investment have on its global counterparts? Chinese investment projects around the world, from railways in Africa and dams in Latin America to the acquisition of landmark buildings in the US, look to alter global patterns of influence and power. How would other countries react to China's rising international influence?The US government and many Americans deny their country is an empire, although the US status as the leading superpower makes it an empire in all but name. How will China coexist with the US, which has arguably been an imperialist power since the end of World War II? How will the incumbent neo-imperialist power, the US, deal with an emergent China?With its acute analysis of Sino-US relations, the book will interest readers who wish to understand the impact of China on various countries, its place on the world stage as well as the geopolitical implications for all in the 21st century.Table of ContentsComparison of China Today with Britain During the Industrial Revolution; China's Economic Relations with Africa; China's Economic Relations with Latin America; China's Economic Relations with Southeast Asia;

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Book SynopsisWith the rapid increase in China's overseas investment and trade, China's global economic clout is increasing by the day. Does China's global economic reach make it an empire in the 21st century? What sort of impact will China's trade and investment have on its global counterparts? Chinese investment projects around the world, from railways in Africa and dams in Latin America to the acquisition of landmark buildings in the US, look to alter global patterns of influence and power. How would other countries react to China's rising international influence?The US government and many Americans deny their country is an empire, although the US status as the leading superpower makes it an empire in all but name. How will China coexist with the US, which has arguably been an imperialist power since the end of World War II? How will the incumbent neo-imperialist power, the US, deal with an emergent China?With its acute analysis of Sino-US relations, the book will interest readers who wish to understand the impact of China on various countries, its place on the world stage as well as the geopolitical implications for all in the 21st century.Table of ContentsComparison of China Today with Britain During the Industrial Revolution; China's Economic Relations with Africa; China's Economic Relations with Latin America; China's Economic Relations with Southeast Asia;

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Book SynopsisOver the past two decades, China's robust economic performance has propelled it to the world stage. At the same time, the world has increasingly scrutinized China's economic policies and activities. One of the hotly contested issues is China's foreign exchange rate policy. China's current reform and modernization policies to convert its centrally planned economy towards a market-driven one could hardly draw on experiences of other countries.This book provides a succinct and up-to-date account of China's exchange rate policy including the currency undervaluation debate and the internationalization of its currency. It begins with a brief history of the modern China's foreign exchange rate policy. In particular, it highlights the three Chinese policy characteristics; namely, independence, controllability and practicability, and graduality. This prologue helps to interpret China's policy on its currency, the renminbi (RMB); including its recent initiatives to promote the international use of its currency.The book covers the basic theoretical and empirical issues that are relevant for determining the equilibrium value of the RMB exchange rate and, hence, its degree of misalignment. Then it evaluates the controversy surrounding the RMB valuation debate, and highlights the sensitivity of empirical estimates of the degree of misalignment to alternative presumptions.The book also examines the timely issues related to China's recent efforts in promoting the use of its currency in the global financial market. After describing the background of China's recent efforts to internationalize the RMB, the book a) discusses the main promotional policies, including the recent Qianhai project and Shanghai Free Trade Zone initiative, b) evaluates the current status of the offshore RMB market, the level of international use of the RMB and the admission to the SDR basket, and c) assesses the future prospects of the RMB to be a global currency.Table of ContentsThe Chinese Economy; History of the Modern China's Foreign Exchange Policy: The Pre-Open-Door Policy Era; The Post-Open-Door Policy Era; RMB Valuation: Modeling Equilibrium Exchange Rate; Estimating the Degree of RMB Misalignment; Internationalization of the RMB: Functionalities of an International Currency?; Policies Promoting the International Use of the RMB; Reasons Behind the Internationalization Policy; The Role of Offshore RMB Markets; The International Role of the RMB in the Future;

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Book SynopsisInternational Economics: Global Markets and Competition integrates the microeconomics of international trade with open economy macroeconomics and finance. The theory is comprehensive but presented with intuitive diagrams. The book emphasizes the gains from international competition and the limits of trade policy.Economics began during the Industrial Revolution with a debate over import tariffs. To this day, domestic industries lobby for tariff protection against foreign competition, paying lawmakers for tariffs on imports. Only under special conditions do tariffs lead to economic gains. Domestic importers of materials and industrial products favor free trade, as do export industries since tariffs encourage other countries to retaliate with tariffs of their own.Trade theory includes market analysis and general equilibrium models of the economy. This text integrates the full range of trade theory with exchange rates, balance of payments, international finance, and open economy growth and macroeconomics.The presentation focuses on diagrams and avoids equations and algebra. The theory is presented with numerical examples. The text does not assume intermediate economics, instead developing the theory with thorough explanations. Questions in each section build confidence in applying the theory. Boxed examples illustrate the importance of the theory.Students like the concise and straightforward style. Instructors notice the difference on exams.Table of ContentsTrade and Protectionism: Markets and International Trade; Gains from Trade; Protectionism; The Terms of Trade; Production and Trade: Constant Cost Production and Trade; Factor Production and Trade; Trade and Industrial Organization; International Economic Integration: Migration and International Captial; International Integration; International Macroeconomics: Balance of Payments; Foreign Exchange Rates; International Money and Financial Markets; Open Economy Macroeconomics;

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Book SynopsisEver since the Great Recession, the global financial regulatory system has undergone significant changes. But have these changes been sufficient? Have they created a new problem of over-regulation? Is the system currently in a better position than in the pre-Recession years, or have we not adequately addressed the basic causes of the financial crisis and resulting Great Recession?These were the questions and issues addressed in the seventeenth annual international banking conference held at the Federal Reserve Bank of Chicago in November 2014. In collaboration with the Bank of England, the theme of the conference was to examine the state of the new global financial system as it has evolved in response to significant market changes and regulatory reforms triggered by the global financial crisis. The papers from that conference are collected in this volume, with contributions from an international array of government officials, regulators, industry practitioners and academics.

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Book SynopsisThis book analyzes in depth all major derivatives debacles of the last half century including the multi-billion losses and/or bankruptcy of Metallgesellschaft (1994), Barings Bank (1995), Long Term Capital Management (1998), Amaranth (2006), Société Générale (2008) , AIG (2008) and JP Morgan-Chase (2012). It unlocks the secrets of derivatives by telling the stories of institutions which played in the derivative market and lost big. For some of these unfortunate organizations it was daring but flawed financial engineering which brought them havoc. For others it was unbridled speculation perpetrated by rogue traders whose unchecked fraud brought their house down.Should derivatives be feared 'as financial weapons of mass destruction' or hailed as financial innovations which through efficient risk transfer are truly adding to the Wealth of Nations? By presenting a factual analysis of how the malpractice of derivatives played havoc with derivative end-user and dealer institutions, a case is made for vigilance not only to market and counter-party risk but also operational risk in their use for risk management and proprietary trading. Clear and recurring lessons across the different stories in this volume call not only for a tighter but also 'smarter' control system of derivatives trading and should be of immediate interest to financial managers, bankers, traders, auditors and regulators who are directly or indirectly exposed to financial derivatives.The book groups cases by derivative category, starting with the simplest and building up to the most complex — namely, Forwards, Futures, Options and Swaps in that order, with applications in commodities, foreign exchange, stock indices and interest rates. Each chapter deals with one derivative debacle, providing a rigorous and comprehensive but non-technical elucidation of what happened.What is new in the second edition? A new chapter on JP Morgan-Chase's London Whale, an in-depth discussion of credit-default swaps, and an update of the revamped regulatory framework with Basel 2.5 and Basel III against the backdrop of the Euro crisis, along with a revised and expanded discussion of the AIG debacle.Table of ContentsDerivatives and the Wealth of Nations; Forwards: Showa Shell Sekiyu K K; Citibank's Forex Losses; Bank Negara Malaysia; Futures: Amaranth Advisors LLC; Metallgesellschaft; Sumitomo; Options: Allied Lyons; Allied Irish Banks; Barings; Societe Generale; Swaps: Procter & Gamble; Gibson Greeting Cards; Orange County; Long-Term Capital Management; AIG; JP Morgan Chase London Whale; From Theory to Malpractice: Lessons Learned;

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Book SynopsisThe Legal and Economic Analysis of the WTO/FTA System presents a collation of interdisciplinary studies covering a wide range of issues from WTO dispute settlement issues to trade remedy systems and FTA negotiations. The author applies legal as well as economic rationales and methods to analyze core issues in the world trading system and in doing so, sheds an interesting light on various trade issues. The interdisciplinary analysis on WTO and FTA issues provides a unique opportunity to reconsider many conventional trade topics. For instance, the author shows that third country dumping rarely used in the GATT/WTO system may have a new role with economic incentives in the context of FTAs.

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Book SynopsisThe Economics of International Migration is a collection of the fundamental articles written by Giovanni Peri on the economic determinants and consequences of international migration. These papers have provided the theoretical framework and empirical analysis for a rethinking of the economics of migration, going beyond the Canonical model of labor demand and supply used until the 1990s. Beginning with a simple model that recognizes the differences between immigrants and natives as workers, the articles develop the analysis of complementarity, specialization and productivity effect of immigrants in developed economies. The book then presents a series of papers analyzing and testing the economic motivation for international migration. Finally, the focus is shifted to the effect of immigration policies and their consequences on immigration and the economy.Table of ContentsIntroduction: Immigrants and the Economy, A Starting Point; Immigrants and Labor Markets: Rethinking the Effect of Immigration on Wages (G I P Ottaviano and G Peri); Task Specialization, Immigration and Wages (G Peri and C Sparber); Immigration, Offshoring and American Jobs (G I P Ottaviano, G Peri and G C Wright); Immigration, Jobs and Labor Market Institutions: Evidence from Europe (F D'Amuri and G Peri); The Labor Market Effects of Immigration and Emigration in OECD Countries (F Docquier, C Ozden and G Peri); Immigrants and Productivity: The Economic Value of Cultural Diversity: Evidence from US Cities (G I P Ottaviano and G Peri); The Effect of Immigration on Productivity: Evidence from US States (G Peri); STEM Workers, H1B Visas and Productivity in US Cities (G Peri, K Shih and C Sparber); Openness and Income: The Roles of Trade and Migration (F Ortega and G Peri); Immigration Policies and Migrant Mobility: The Effect of Income and Immigration Policies on International Migrations (F Ortega and G Peri); The Cross-Country Determinants of Potential and Actual Migration (F Docquier, G Peri and I Ruyssen);

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Book SynopsisThe countries that make up Southeast Asia are seeing an incredible resurgence in their economic power. Over the past fifty years, their combined wealth has reached the same level as the United Kingdom and, taken together, they are on track to become the fifth-largest world economy. But that stability and success has drawn the attention of the second largest world economy—China. The emerging superpower is increasingly involved in Southeast Asia as part of the ongoing global realignment. As China deepens its influence across the region, the countries of Southeast Asia are negotiating spaces for themselves in order to respond to—or even challenge—China's power.This is the first book to survey China's growing role in Southeast Asia along multiple dimensions. It looks closely and skeptically at the multitude of ways that China has built connections in the region, including through trade, foreign aid, and cultural diplomacy. It incorporates examples such as the operation of Confucius Institutes in Indonesia or the promotion of the concept of guangxi. China's Footprints in Southeast Asia raises the question of whether the Chinese efforts are helpful or disruptive and explores who it is that really stands to benefit from these relationships. The answers differ from country to country, but, as this volume suggests, the footprint of hard and soft power always leaves a lasting mark on other countries' institutions.

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Book SynopsisSince 2005, China has been accused of causing the trade deficit and manipulating the exchange rate. At the same time, there have been arguments against the RMB appreciation. The reason for this conflict is the lack of quantitative research or elaboration on many extremely important indicators.To correctly describe the industrial chain and value-added process around the world, it is necessary to identify data by using new methods and separating the processing trade from the non-processing trade based on the Global Trade Analysis Project (GTAP) data. This book establishes a Global Multi-department Computable General Equilibrium (GMCGE) model based on the continuous global input-output database. It focuses on the Computable General Equilibrium (CGE) model that constructs a consistent interaction mechanism within the economic system and fully reflects the general equilibrium characteristics and thus tries to avoid the limitations of the partial equilibrium model. It shows how the GMCGE framework can distinguish the processing trade from non-processing trade in the input-output data, and at the same time ensure the endogenous equilibrium of the social accounting matrix (SAM) after distinction.

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Book SynopsisInternational Trade: Theory, Evidence and Policy provides an integrated non-mathematical account of trade theory and policy that can be read straight through. The footnotes provide caveats, extensions and entry points, or further reading.This book is divided into three parts. The first part focuses on the core theoretical analysis of international trade that has evolved over a quarter-millennium. The second part reviews recent empirical research in global value chains, trade costs, and heterogeneous firms, particularly from analysing large datasets of individual firms' characteristics and of trade flows disaggregated to very finely detailed levels. The third section of the book analyzes trade policies and discusses current policy debates.This edition is based on Pomfret's Lecture Notes on International Trade Theory and Policy, first published in 2008. The content has been extensively updated and revised to stand as a new volume.

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Book SynopsisThe 2008 global economic crisis resulted in many new changes in global economic governance, multilateral trading system, the Group20 major economies, regional economic cooperation and other international governance platforms. Countries around the world have begun a complex battle to make sure rules are changed in their favor. Furthermore, rule reconstruction has a definite and profound impact on the international economic situation and national trade interests. This book by Former Chinese Minister of Commerce Chen Deming, aims to highlight the focal issues of the competition and negotiations with a panoramic depiction of the complicated state of international economic and trade rule reconstruction.The chapters in the book discuss rules of global governance, reflect on the crisis rarely seen in the past century, and raise the proposition of rule reconstruction. They also focus on multilateral trading system, regional economic cooperation and related international financial rules. Detailed deliberations on various kinds of trade rules including rules of services trade, government procurement, intellectual property, investment, international development cooperation, etc are also dealt with. Lastly, the book provides an outlook on the path, direction and key issues of international economic rule reconstruction, and offers recommendations on China's engagement.

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Book SynopsisThe 2008 global economic crisis resulted in many new changes in global economic governance, multilateral trading system, the Group20 major economies, regional economic cooperation and other international governance platforms. Countries around the world have begun a complex battle to make sure rules are changed in their favor. Furthermore, rule reconstruction has a definite and profound impact on the international economic situation and national trade interests. This book by Former Chinese Minister of Commerce Chen Deming, aims to highlight the focal issues of the competition and negotiations with a panoramic depiction of the complicated state of international economic and trade rule reconstruction.The chapters in the book discuss rules of global governance, reflect on the crisis rarely seen in the past century, and raise the proposition of rule reconstruction. They also focus on multilateral trading system, regional economic cooperation and related international financial rules. Detailed deliberations on various kinds of trade rules including rules of services trade, government procurement, intellectual property, investment, international development cooperation, etc are also dealt with. Lastly, the book provides an outlook on the path, direction and key issues of international economic rule reconstruction, and offers recommendations on China's engagement.

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Book SynopsisThe book includes selected papers of Morris Goldstein on the following topics in international macroeconomics: international trade, currency regimes, exchange rate policy, international policy coordination, banking, financial crises, financial regulation, IMF policies, and China's exchange rate policy. Some of the papers are empirical in nature, while others address key policy issues in international macroeconomics. Many of the papers are co-authored with other well-known international economists, including Jacob Frenkel, Mohsin Khan, Nicholas Lardy, Peter Montiel, Michael Mussa, Carmen Reinhart, and Philip Turner, among others. Taken as a group, the papers should give the reader a good picture of many of the most important issues in international macroeconomics over the past 35 years.

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Book SynopsisThis book provides an intensive review of the economic competitiveness of the Singapore economy and identifies the strategies which will allow the economy to retain its competitive advantage in an increasingly globalised economic environment in future years. It is a timely exercise in view of the fact that the international trading and investment climate has liberalised considerably, and the regional economies are achieving remarkable economic growth and development which begin to challenge Singapore's competitive edge as a regional transportation hub, international financial centre and a primary regional centre for technology and education.Table of ContentsThe macroeconomic perspectives of competitiveness, K.Y. Tan and M.H. Ton; technological policy and national competitiveness, L. Loh; maintaining Singapore as a major shipping and air transport hub, A. Chin and J. Tongzon; upgrading Singapore's manufacturing industry, P.K. Wong; the construction industry - restructuring for competitiveness, M.H. Toh; maintaining competitiveness in new age tourism, P.P. Wong; strategies for financial sector development, G.H. Lim; entrepreneurship and SMEs in the Singaporean context, B. Bjerke; globalization and the social fabric on competitiveness, K.C. Ho; human resource management for the new competitive environment, W. Koh.

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Book SynopsisThis book provides an intensive review of the economic competitiveness of the Singapore economy and identifies the strategies which will allow the economy to retain its competitive advantage in an increasingly globalised economic environment in future years. It is a timely exercise in view of the fact that the international trading and investment climate has liberalised considerably, and the regional economies are achieving remarkable economic growth and development which begin to challenge Singapore's competitive edge as a regional transportation hub, international financial centre and a primary regional centre for technology and education.Table of ContentsThe macroeconomic perspectives of competitiveness, K.Y. Tan and M.H. Ton; technological policy and national competitiveness, L. Loh; maintaining Singapore as a major shipping and air transport hub, A. Chin and J. Tongzon; upgrading Singapore's manufacturing industry, P.K. Wong; the construction industry - restructuring for competitiveness, M.H. Toh; maintaining competitiveness in new age tourism, P.P. Wong; strategies for financial sector development, G.H. Lim; entrepreneurship and SMEs in the Singaporean context, B. Bjerke; globalization and the social fabric on competitiveness, K.C. Ho; human resource management for the new competitive environment, W. Koh.

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Book SynopsisNoonomy explores the effect of modern technological shifts on human society. The author shows that technologies are about to undergo qualitative changes which will create new opportunities for personal development and the satisfaction of wants and, simultaneously, engender risks associated with growth opportunities of human interference with nature and technogenic stress on the environment. Based on the study of cutting-edge technologies and resulting socioeconomic shifts, Bodrunov makes the conclusion about the upcoming civilizational crisis. The crisis can be overcome through the formation of a new industrial society of the second generation reliant on knowledge-intensive material production and gradual removal of humans from immediate material production processes. These two trends can fully develop only subject to the transition from the current socioeconomic formation to a non-economic one–the noonomy.Table of ContentsForewordTo the Reader: A Door to the FutureThinkers Who Have Contributed to the Study of the Interconnections between Technological and Social Development Step One: Grasping RealityStep Two: Into the World of New TechnologiesStep Three: To the Threshold of Technological RevolutionStep Four: The New Industrial Society’s Second GenerationStep Five: Civilization at a CrossroadsStep Six: Nooindustrial ProductionStep Seven: Culture as an Economic ImperativeStep Eight: From Economy to NoonomyConclusion: The Path Towards Nootranformation

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