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China is caught in the rapids of the largest policy crackdown in history. The ferocity of this far-reaching crackdown, dispersed…
across every market sector, has cast into scrutiny a newly emerging era of development and raised new questions about what it means for the future of Chinese governance and development. Has China abandoned its modern commitment to market-oriented reforms? Is this a reversion to the bygone days of Maoist Communism? The ongoing crackdown, this book argues, is not a break from but a continuation of the legacy of development initiated 50 years ago under Deng Xiaoping. Drawing on rich economic and developmental data, the book recasts old ideas about Chinese governance with cutting-edge insights into the economic machinery and policy regime that drive modern China. As it shows, the seemingly unconnected parts of the ongoing crackdown across China – the shadow banking network, real estate, Internet technology, entertainment, housing, private education – can all be understood in terms of a consistent, continuous economic model. It explores the social structure of this economic model, from an ideological foundation that is not political but cultural in nature, to its institutional arrangements and macroeconomic and fiscal policies. The book discusses the policy interventions and development goals motivated by these social structures, offering a major new contribution to understanding the social and economic challenges that face China today – and its next 50 years. The book will appeal to a broad academic audience, especially given the growing prominence of Chinese development in the context of development in the Asia-Pacific at large.Sustainable Management of Transnational Megaprojects (Routledge-Giappichelli Studies in Business and Management)
By Dario Cottafava, Daniel Torchia, Stefania Camoletto, Laura Corazza. 2024
This book analyses the seminal role of megaprojects for sustainable development, and the related, complex challenges they bring. It provides…
insights into the growing social responsibilities that megaprojects have, not only to be environmentally sustainable, but also towards the multitude of stakeholders involved, whether directly or indirectly. After an historical overview of the increasingly necessary links between sustainable infrastructure and megaprojects, the book builds on and applies stakeholder theory to stakeholder engagement and management in megaprojects. It also emphasizes the importance of building impact assessment frameworks that consider the unheard voices that are often passively sitting at the receiving end of a megaproject, as well as the local context where the megaproject is embedded. The book then proceeds to analyse the case of a very contested transnational railway megaproject between Italy and France, the Turin-Lyon high-speed railway, which has been suffering from stakeholder and communication issues for over thirty years, as well as from notable managerial and legal differences in the two countries. In this way, the book informs both theory and practice and encourages scholarly interventions into wicked problems. It contains a comprehensive review of the academic literature on the sustainability, sustainability challenges, and sustainability reporting of megaprojects. Conceptual models, frameworks and future research opportunities are provided to clarify the empirical challenges and highlight the gaps and opportunities to be explored by researchers and practitioners in future. The audience for the book is both academic researchers and practitioners in the field of megaprojects and more specifically, those dealing with managing transnational megaprojects. It also includes several topics that will be of interest to policy and decision-makers.Infrastructure Policy and Inequality (Routledge Studies in Development Economics)
By Michael A. Cohen. 2024
This book reframes the purpose of infrastructure from being an input to economic growth to becoming a major instrument in…
reducing socio-economic inequalities in both industrialized and developing countries.Drawing on global and national lessons of COVID-19 and extensive working experience in 55 countries, this book reviews infrastructure policies and performance over several decades and suggests that the “underperformance” of infrastructure could be improved by more attention to users and the demand side, and thereby contribute to overcoming many obstacles facing low-income communities around the world. This book argues that growth is not a necessary condition for sustainability or social justice, and that both are undermined by structural inequalities which reduce the income and opportunities of urban households. More focus on user needs can substantially change the distribution of benefits and the quality of living conditions of low-income people. It provides a unique theoretical and on-the-ground critique of conventional infrastructure practices while illustrating to readers the many positive experiences around the world. More infrastructure is not enough; different and better is needed. This book reviews World Bank experience in launching a 30-year program to alleviate urban poverty through some 7,000 projects, showing that many significant policy changes have led to a big improvement in global urban policies adopted by national and local governments, yet have failed to significantly address and reduce intra-urban inequalities.The audience for this book includes academics, both faculty and advanced graduate students, while also a wider public interested in the prospects for international development.Transformation der Nationen (AT)
By Reinhard Schneider. 2024
Jahrzehntelang waren die technologisch fortgeschrittenen Länder des Westens die Nutznießer der Globalisierung auf Basis der von ihnen geschaffenen Wirtschaftsordnung. Jetzt…
ändern sich die geopolitischen und wirtschaftlichen Verhältnisse mit Wucht. Gleichzeitig hat sich in den letzten Jahren die Erkenntnis durchgesetzt, dass wir unsere Wirtschaft auf CO2-freies Wirtschaften umstellen müssen. Zudem altern viele Gesellschaften. Deutschland und Europa tun sich sichtlich dabei schwer, ihre Nationen zukunftsfähig zu gestalten. Gerade bei der passenden Wirtschaftspolitik hakt es. Reinhard Schneiders These ist: Es braucht in Deutschland und Europa dringend einen politischen, wirtschaftlichen und gesellschaftlichen Wandel. Diesen schaffen wir aber nur, wenn wir die Grundlagen unseres Wohlstands verstehen. Leider ist das Verständnis der wirtschaftlichen Zusammenhänge in der Politik und der breiten Bevölkerung oft lückenhaft und es kommt zu Fehleinschätzungen. Dies beginnt schon bei der mangelnden Unterscheidung zwischen Tätigkeiten, die Kosten für eine Gesellschaft auslösen, und Tätigkeiten, die Einkommen für eine Gesellschaft generieren. Eine wesentliche Ursache ist die Art, wie wir Wertschöpfung und Einkommen von Nationen bzw. Staaten wie Deutschland definieren und messen. Fest steht: Wenn Nationen ihren Wohlstand halten wollen, müssen sie konkurrenzfähig sein. Attraktive und konkurrenzfähige Produkte werden mittlerweile überall angeboten; bei Amazon ist man nur einen Klick vom weltweiten Angebot entfernt. Während die USA und China verstehen, dass sie ihr Einkommen steigern müssen, wenn sie mehr Wohlstand haben wollen, rümpfen die Europäer die Nase über den Neoliberalismus. Sie rufen lieber nach Geld vom Staat oder der EU zur Steigerung der Nachfrage. Auf diesem Weg werden Deutschland und Europa Gefahr laufen, abgehängt zu werden. Das Buch liefert eine längst überfällige Darstellung der Realität der Wirtschaft. Es soll helfen, richtige Entscheidungen zu treffen. Nur so gelingt uns, vor dem Hintergrund der aktuellen globalen Herausforderungen, der Wandel in eine erfolgreiche Zukunft - die Transformation der Nationen.Economic inequality, the environmental crisis and the climate crisis are systemically linked. Accordingly, they should be understood as a single,…
interconnected system and strategies for resolving them should be guided by this understanding. This book demonstrates how the Green New Deal and its systemic alternative, the Red New Deal, could influence the course of these three global crises, all within the context of the Fourth Industrial Revolution.The author has developed several scenarios that are relevant to the automation that will result from advances in artificial intelligence and intelligent robots. The first is one of mass unemployment, while the second envisages low rates of unemployment, although workers will experience stagnation and then a decline in their wages. It is possible to envisage a different set of scenarios; however, we must replace the capitalist economic model with a different model: mutualism, a sustainable model that would allow for economic growth while also addressing the three current systemic crises. The author argues that if such a model is implemented, there will be jobs for everyone and the climate crisis will be tackled because people’s welfare will be prioritized over profit. We can assert that such a model will foster the development of economic equality. The basic premise of this mutual and sustainable economic model is that sustainability is in everyone’s interests.The book employs not only established and innovative methods, such as literature reviews, scenario thinking and historical methods, to underpin its arguments, but also conceptual generalization as an intellectual tool to tackle the general research problem; thus, it will be an invaluable resource for scholars and students of sustainability and the innovation economy.The Financial Reporting Quality of Public Companies: The Cultural Dimension (Routledge Studies in Accounting)
By Katarzyna Mokrzycka-Kogut. 2022
The factors determining the formation of accounting principles in different countries have long been studied. Cultural conditions have been identified…
as one of the reasons for national variations. This issue is particularly important when there is an effort to harmonise and standardise accounting principles, in order to create a uniform system, which may be adopted globally. This book explores the impact of cultural conditions on the financial reporting quality of public companies preparing financial statements according to International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS). It discusses the main trends in the theory of capital and earnings in the economy. The book focuses on the relationship between the cultural dimensions under analysis, such as power distance, individualism/collectivism, masculinity/feminity, strong uncertainty/weak uncertainty, short/ long time orientation and indulgence/restraint, and the properties of the financial results; persistence, predictive value, accrual adjustments and earnings smoothing. It identifies the determinants - cultural conditions that have a statistically material impact, either positive or negative, on various attributes of the quality of the financial results of public companies. The book contains an up-to-date, in-depth description of the financial statements of public companies, across of variety of countries and sectors. The publication is addressed to researchers and students concerned with the functioning of capital markets and financial reporting quality and those who would like to expand their knowledge in the field of behavioural finance, as well as investors in capital markets.Arthur Spiethoff (1873–1957), an economist of the German Historical School of Economics, is best known for his theory of the…
business cycle. Despite Spiethoff calling for a unified reading of his work, his epistemological thinking has received less attention. This book addresses that gap by analysing Spiethoff’s theory of the business cycle in the light of his epistemological views. Putting Spiethoff’s work in context, the book also investigates the most significant features of the evolution of the “research programme” of the German Historical School of Economics, with particular reference to the relationships between Schmoller, Sombart, Weber and Spiethoff. In addition, Spiethoff’s work is compared with some of the scientific orientations of the current debates: on the epistemological side, the book examines the relationship between Spiethoff’s views and some contemporary thinking on scientific realism, as well as methodological pluralism in social sciences. And, more broadly, it emphasises the analytical relevance of the historical approach in explaining the economic imbalances of contemporary capitalism, questioning the idea, widespread in the neoclassical approach, that taking historical specificities into account makes it hard to achieve a theoretically effective attitude. This book is a significant addition to the literature on the German Historical School of Economics and the history of economic thought, business cycle theory and macroeconomics more broadly.Global Discord: Values and Power in a Fractured World Order
By Paul Tucker. 2022
How to sustain an international system of cooperation in the midst of geopolitical struggleCan the international economic and legal system…
survive today’s fractured geopolitics? Democracies are facing a drawn-out contest with authoritarian states that is entangling much of public policy with global security issues. In Global Discord, Paul Tucker lays out principles for a sustainable system of international cooperation, showing how democracies can deal with China and other illiberal states without sacrificing their deepest political values. Drawing on three decades as a central banker and regulator, Tucker applies these principles to the international monetary order, including the role of the U.S. dollar, trade and investment regimes, and the financial system.Combining history, economics, and political and legal philosophy, Tucker offers a new account of international relations. Rejecting intellectual traditions that go back to Hobbes, Kant, and Grotius, and deploying instead ideas from David Hume, Bernard Williams, and modern mechanism-design economists, Tucker describes a new kind of political realism that emphasizes power and interests without sidelining morality. Incentives must be aligned with values if institutions are to endure. The connecting tissue for a system of international cooperation, he writes, should be legitimacy, creating a world of concentric circles in which we cooperate more with those with whom we share the most and whom we fear the least.Mobile Banking and Access to Public Services in Bangladesh: Influencing Issues and Factors (Elements in the Economics of Emerging Markets)
By null M. Kabir Hassan, Null Jannatul Ferdous, Null Hasanul Banna. 2024
This Element examines the role of mobile banking in accessing public services in Bangladesh. It also identifies the key influencing…
factors and challenges in accessing public services through mobile banking and suggests policy measures to overcome these challenges. Based on a survey of 300 people, the study finds that mobile banking facilitates access to public services, which is beneficial and effective for both rural and urban users, as technology can increase the quality of work. Despite the benefits, some individuals are reluctant to use the service due to high transaction costs and a lack of digital literacy.The Market Economy: A Reader
By James L. Doti, Dwight R. Lee. 1991
The Market Economy: A Reader outlines the characteristics and philosophical underpinnings of the market economy and its usefulness in the…
allocation of resources. This anthology offers a comprehensive set of authentic, primary source selections that demonstrate how the tenets of classical economic liberalism provide the foundation for an efficient economic system--while also maximizing individual freedom. The readings also provide a structure for analyzing economic and philosophical issues. The book includes selections from several authors who are not economists but whose work is important in terms of their contribution to economic thought, such as Henry David Throeau and Ayn Rand. It also features classic readings such as Adam Smith's invisible hand from his Wealth of Nations, David Ricardo's original explanation of comparative advantage from Principles of Political Economy and Taxation, and John Stuart Mill's eloquent expression of the limits of government in On Liberty. Latter-day proponents of private enterprise include Friedrich Hayek, Ludwig von Mises, and Milton Friedman. These authors and others address how the market economy responds to such topical issues as the environment, income distribution, and free trade.The Economic Legacy of José Joaquín de Mora: Spreading Classical Political Economy in the Hispanic World (Palgrave Studies in the History of Economic Thought)
By Jesús Astigarraga, Javier Usoz, Juan Zabalza. 2024
This book examines the dissemination, adaptation, and application of classical economic ideas within the Hispanic world through the life of…
José Joaquín de Mora. Focusing on the decades surrounding the creation of the Latin American republics, it highlights how ideas from the classical political economy, including liberalism and free trade, were pioneered in the work of Mora and disseminated across the Spanish speaking world. Particular attention is given to the influence of Mora in Argentina, Chile, Peru, and Bolivia and how he helped shape their economic development models and political environments.This book examines the essential role José Joaquín de Mora played in the ideological and political modernisation of Latin America. It will be of interest to students and researchers interested in the history of economic thought and the political economy.This book examines the intricate dynamics of when individuals adhere to laws, taking into account the context in which laws…
attempt to shape human behavior. While existing literature touches upon various reasons why people comply with laws, the book focuses on a critical question which has been missing from the discussion: when do people obey laws? By treating law as a form of social communication, it develops an integrated framework to answer this question. It explores how social, psychological, and institutional conditions shape compliance decisions of individuals. What does a law signify? When does the compulsion to obey arise? When do individuals comply out of a fear for legal sanctions or social repercussions? Why do some laws have high symbolic values and others fail despite harsh punishments? The book unveils the contextual intricacies that underlie obedience to law. It challenges conventional wisdom and offers a fresh perspective on the power and limitationsof law in shaping human behavior. For scholars and academics seeking a deeper understanding of legal compliance and role of law in shaping behaviors, this book will be an indispensable resource.Essential Econometric Techniques: A Guide to Concepts and Applications
By Elia Kacapyr. 2022
Now in its third edition, Essential Econometric Techniques: A Guide to Concepts and Applications is a concise, student-friendly textbook which…
provides an introductory grounding in econometrics, with an emphasis on the proper application and interpretation of results.Drawing on the author’s extensive teaching experience, this book offers intuitive explanations of concepts such as heteroskedasticity and serial correlation, and provides step-by-step overviews of each key topic. This new edition contains more applications, brings in new material including a dedicated chapter on panel data techniques, and moves the theoretical proofs to appendices. After Chapter 7, students will be able to design and conduct rudimentary econometric research. The next chapters cover multicollinearity, heteroskedasticity, and autocorrelation, followed by techniques for time-series analysis and panel data.Excel data sets for the end-of-chapter problems are available as a digital supplement. A solutions manual is also available for instructors, as well as PowerPoint slides for each chapter.Essential Econometric Techniques shows students how economic hypotheses can be questioned and tested using real-world data, and is the ideal supplementary text for all introductory econometrics courses.Adam Smith on the Ancients and the Moderns (Routledge Studies in the History of Economics)
By Gloria Vivenza. 2024
The classics heavily influenced many aspects of European modern culture, yet it is not easy to trace their intellectual power…
on any author. In this volume, Gloria Vivenza takes on the impressive task of examining how philosophy, history, literature, politics, and ethics all played a part in shaping Adam Smith’s thought as a scholar, philosopher, and economist.This book will be of interest to advanced students and researchers in the history of economic thought, the history of philosophy, moral philosophy, political theory, and the Enlightenment.This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out…
and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1965.How America's high standard of living came to be and why future growth is under threatIn the century after the…
Civil War, an economic revolution improved the American standard of living in ways previously unimaginable. Electric lighting, indoor plumbing, motor vehicles, air travel, and television transformed households and workplaces. But has that era of unprecedented growth come to an end? Weaving together a vivid narrative, historical anecdotes, and economic analysis, The Rise and Fall of American Growth challenges the view that economic growth will continue unabated, and demonstrates that the life-altering scale of innovations between 1870 and 1970 cannot be repeated. Gordon contends that the nation's productivity growth will be further held back by the headwinds of rising inequality, stagnating education, an aging population, and the rising debt of college students and the federal government, and that we must find new solutions. A critical voice in the most pressing debates of our time, The Rise and Fall of American Growth is at once a tribute to a century of radical change and a harbinger of tougher times to come.Information Choice in Macroeconomics and Finance
By Laura L. Veldkamp. 2012
An authoritative graduate textbook on information choice, an exciting frontier of research in economics and financeMost theories in economics and…
finance predict what people will do, given what they know about the world around them. But what do people know about their environments? The study of information choice seeks to answer this question, explaining why economic players know what they know—and how the information they have affects collective outcomes. Instead of assuming what people do or don't know, information choice asks what people would choose to know. Then it predicts what, given that information, they would choose to do. In this textbook, Laura Veldkamp introduces graduate students in economics and finance to this important new research.The book illustrates how information choice is used to answer questions in monetary economics, portfolio choice theory, business cycle theory, international finance, asset pricing, and other areas. It shows how to build and test applied theory models with information frictions. And it covers recent work on topics such as rational inattention, information markets, and strategic games with heterogeneous information.Illustrates how information choice is used to answer questions in monetary economics, portfolio choice theory, business cycle theory, international finance, asset pricing, and other areasTeaches how to build and test applied theory models with information frictionsCovers recent research on topics such as rational inattention, information markets, and strategic games with heterogeneous informationIdentity Economics: How Our Identities Shape Our Work, Wages, and Well-Being
By George A. Akerlof, Rachel E. Kranton. 2010
How identity influences the economic choices we makeIdentity Economics provides an important and compelling new way to understand human behavior,…
revealing how our identities—and not just economic incentives—influence our decisions. In 1995, economist Rachel Kranton wrote future Nobel Prize-winner George Akerlof a letter insisting that his most recent paper was wrong. Identity, she argued, was the missing element that would help to explain why people—facing the same economic circumstances—would make different choices. This was the beginning of a fourteen-year collaboration—and of Identity Economics.The authors explain how our conception of who we are and who we want to be may shape our economic lives more than any other factor, affecting how hard we work, and how we learn, spend, and save. Identity economics is a new way to understand people's decisions—at work, at school, and at home. With it, we can better appreciate why incentives like stock options work or don't; why some schools succeed and others don't; why some cities and towns don't invest in their futures—and much, much more.Identity Economics bridges a critical gap in the social sciences. It brings identity and norms to economics. People's notions of what is proper, and what is forbidden, and for whom, are fundamental to how hard they work, and how they learn, spend, and save. Thus people's identity—their conception of who they are, and of who they choose to be—may be the most important factor affecting their economic lives. And the limits placed by society on people's identity can also be crucial determinants of their economic well-being.Proceedings of 4th International Conference on Resources and Environmental Research—ICRER 2022 (Environmental Science and Engineering)
By Chaolei Yuan, Suiliang Huang, Xin Wang, Zeyou Chen. 2023
With the rapid increase of population, industrialization, urbanization, and the abuse of science and technology, environmental problems have showed an…
explosive development trend. Actions must be taken to ensure the rational exploitation and utilization of natural resources, prevent environmental pollution and ecological damage, and coordinate the relationship between environment and social development. Proceedings of 4th International Conference on Resources and Environmental Research (ICRER 2022) focuses on effective use of environmental resources, ecological restoration and remediation of degraded and polluted environment, and emission reduction technologies. This book brings the latest advances in resources and environmental research.Age of Discovery: Navigating the Risks and Rewards of Our New Renaissance
By Ian Goldin, Chris Kutarna. 2014
The present is a contest between the bright and dark sides of discovery. To avoid being torn apart by its…
stresses, we need to recognize the fact—and gain courage and wisdom from the past. Age of Discovery shows how.Now is the best moment in history to be alive, but we have never felt more anxious or divided. Human health, aggregate wealth and education are flourishing. Scientific discovery is racing forward. But the same global flows of trade, capital, people and ideas that make gains possible for some people deliver big losses to others—and make us all more vulnerable to one another. Business and science are working giant revolutions upon our societies, but our politics and institutions evolve at a much slower pace. That’s why, in a moment when everyone ought to be celebrating giant global gains, many of us are righteously angry at being left out and stressed about where we’re headed.To make sense of present shocks, we need to step back and recognize: we’ve been here before. The first Renaissance, the time of Columbus, Copernicus, Gutenberg and others, likewise redrew all maps of the world, democratized communication and sparked a flourishing of creative achievement. But their world also grappled with the same dark side of rapid change: social division, political extremism, insecurity, pandemics and other unintended consequences of discovery.Now is the second Renaissance. We can still flourish—if we learn from the first.