Search results for ""Author Manoranjan Dutta""

For some twenty-five years after 1949, China did not exist and the country was only rediscovered in the 1970s. As China looks set to soar in the new millennium, there is an urgency to understand the world's most populous economy with a billion plus people. This book aims to shed light on the country's rapid industrialization and internationalization by looking at questions such as: Can China sustain its accelerated rate of growth? Can labor supply be sustained at a relatively low wage rate? Can inflow of foreign direct investment be sustained at a high rate, given the consequent exposure to inflation? Will China's domestic market absorb its own output as the limit on the ability to export manufactures to overseas markets is reached? Is China's currency undervalued? Given China's foreign exchange reserves, should the country have a freely convertible currency?

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This is a new volume in the successful and long-running "CEA Series". The Asian Economy with one common Asian Money is a frontier topic of study in supranational macroeconomics. If the Europeanization of Europe has become a historic reality, the Asianization of Asia cannot be far behind. The paradigm of the European Union (EU) has become a learning model for other continents, especially Asia. In Asia, the process was initiated following the Asian financial crisis of 1997-98, when several newly industrialized Asian economies suffered negative rates of growth of gross domestic product (GDP).The three (Japan, China, and Korea) plus five (Singapore, Malaysia, Thailand, Indonesia, and the Philippines) came together to became the core members of a new regional group. Their annual meetings became an institutional feature of Asian economic cooperation and regional economic integration. In 2003, the group expanded to become the four (Japan, China, Korea, and India) plus 10 model (the original five plus Myanmar, Cambodia, Laos, Brunei Darussalam, and Viet Nam). The book examines the prospects of, the justification for, and the implications of the development of a common Asian currency.

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European Union and the Euro Revolution" is a challenging study of the progression of the historic movement towards one European family. This volume is the first, most comprehensive exposition of the treatise of supranational macroeconomics. The Keynesian Revolution taught us macroeconomics in the context of a sovereign nation state. In the post-WWII decades, the concept of supra-national macroeconomics became the core theme of the European Union. Indeed, the traditional concept of a sovereign nation state economy begs a thorough re-examination. One common economic unit with its well-specified micro and macroeconomic parameters has been mapped onto one common geographic unit, the continent of Europe, a group of sovereign European nation states voluntarily surrendering their erstwhile sovereignty. The official inauguration of one common money, the euro, managed by one common supra-national central bank, the European Central Bank (ECB), on January 1, 1999, has been an epochal event in the eventful history of the European Union (EU) from 1958 through the present. As of 1999, with the euro and the ECB firmly established, the debate became: one money to one Europe. "European Union and the Euro Revolution" draws on the authors extensive field studies as a Visiting Scholar with three European national central banks, De Netherlandsche Bank in Amsterdam, Banque de France in Paris, and Der Deutsche Bundesbank in Frankfurt and Japans Ministry of Finance in Tokyo. His personal conferences with Dr. Otmar Issing, Chief Economist and a Member of the Executive Board of the ECB enriched his understanding of the related issues. His personal conferences with ranking economists and policy-makers of Bank of Japan and Japan Bank for International Development Tokyo, the Peoples Bank of China (PBOC) Beijing, Reserve Bank of Australia Canberra and Reserve Bank of New Zealand , Wellington , the Federal Reserve Banks of New York, San Francisco, and Atlanta plus his invited presentations at universities and research institutions in USA, Japan, China, Korea, Taiwan, the Philippines, Indonesia, Singapore, Malaysia, Thailand, Viet Nam, Nepal, India, Australia, and New Zealand have added resourceful inputs to this volume. His invited presentation in 2002 at the special workshop sponsored by the United Nations International Training and Research (UNITAR) at the United Nations Headquarter in New York City, of course, brought meaningful insights. The contributions to Economic Analysis was established in 1952. The series purpose is to stimulate the international exchange of scientific information. The series includes books from all areas of macroeconomics and microeconomics.

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This volume features an in-depth analysis of the Asian financial crisis and its impacts on the economies of the region by thirty-five scholars and professionals working in the area. The volume contains a detailed analysis of the root causes of the crisis. Some of the authors pursue their analysis with a quantitative approach while others utilize a more qualitative approach. Attention is also directed to the impact of the crisis on international trade and finance. Much of the discussion of this topic focuses on the impact of the crisis on the structure and volume of trade, and on the rise in the number of trade disputes. The impact of these developments on intra- and inter-regional capital flows is also treated. The contribution of APEC (Asia Pacific Economic Cooperation) is assessed. Likewise, the emergence of new trends in the shape of regional monetary policies is also given attention. A special feature of the volume is the assessment of the impact of these developments on China's economy, the inflation rate and its international financial posture. Finally, the effect of recent events on industrial organization particularly with regard to the chaebols in Korea and the keiretsu in Japan is discussed, along with an assessment of the prospects for successful reform of the East Asian system of conglomerates.

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This is the sixth volume in the series on research in Asian economic studies. This volume takes as its main theme the idea of economic regionalization in this area and develops it in a series of essays.

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"The United States of Europe" considers the post-WWII transition of Europe from a diverse and disparate continent to the economically integrated European Union of today. Initiated by the Benelux Customs Union, and later the European Coal and Steel Cooperation, the six-member European Economic Community was formed in 1957, becoming the EC in 1967, and finally the EU in 1992. This process of Europeanization reached its zenith in 1987 with the approval of the Single European act, creating a single market economy. This was followed in 1993 by the Maastricht Treaty, defining the intra-EU macro- and micro-economic parameters. The inauguration of a single common currency, the euro, on 1st January 1999 was a further innovative step, a process that has enabled the EU-27 to enjoy a competitive share of the world GDP and trade.

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