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The Economic Crisis and Governance in the European Union: A Critical Assessment (Routledge Studies in the European Economy)
by Javier Bilbao-UbillosThis book explores the way in which the financial crisis that began in the US spread to the economy of the European Union. It takes a critical look at the measures adopted by EU institutions in response to that crisis, seeking to explain the rationale behind them, their context, their development and why different exit strategies were not adopted. In doing this, the book makes comparisons with the measures adopted by institutions in the US and the UK. As the crisis has shown that the financial supervision frameworks prevailing in 2007 were not fully able to deal with the largest financial crisis in history, this volume also reviews the proposals that have been designed to reform the supervisory architecture in financial services in the EU. The book concludes that the EU member states under most pressure from financial markets do suffer from intrinsic problems, but that the economic effects of the crisis have been exacerbated by shortcomings in economic governance within the EU. This work will be highly relevant to policy makers and scholars looking at EU integration, finance and market regulation.
The Economic Crisis and its Aftermath in the Nordic and Baltic Countries: Do As We Say and Not As We Do (Europa Economic Perspectives)
by Hilmar Þór HilmarssonThe Nordic-Baltic region has become highly integrated. The Nordic countries have been successful in balancing competitiveness and economic growth with social inclusiveness, while the Baltic States have grown economically but remain vulnerable with weak social systems and highly unequal income distribution. European Union (EU) membership and inter-linkages with the continental Nordic banking systems appear to have affected the 2008/09 crisis response of the Baltic States. In spite of their strengths, including their social systems, continental Nordic states are faced with a challenging mix of large, cross-border banks and highly indebted households at a time of rather weak global growth. The Baltic States are challenged by slow economic growth post-crisis, security concerns, and large-scale outward migration of the youngest and most highly educated people. It is now a decade since the Baltic States were hit by the global crisis. It is time to take stock of their progress and assess their relations with other countries in the region and with the EU. This book focuses on the Baltics and their Nordic partners pre- and post-crisis: successes, failures, lessons learned, and future challenges, examining and comparing the crisis response of these various small states that enjoy different income levels, operate different welfare and tax systems, and seek different levels of integration with the EU.
The Economic Crisis in Social and Institutional Context: Theories, Policies and Exit Strategies (Routledge Advances in Heterodox Economics #1)
by Pasquale Tridico Sebastiano FaddaThis book explores the foundations of the current economic crisis. Offering a heterodox approach to interpretation it examines the policies implemented before and during the crisis, and the main institutions that shaped the model of advanced economies, particularly in the last two decades. The first part of the book provides a theoretical analysis of the crisis. The roots of the ‘great recession’ are divided into fundamentals with origins in financial liberalisation, financial innovation and income distribution, and complementary or contributory factors such as the international imbalances, the monetary policy,and the role of credit rating agencies. Part II suggests various paths to recovery while emphasising that it will be necessary to develop alternative strategies for sustainable economic recovery and growth. These strategies will require genuine political support and a new 'great European vision' to address major issues concerning the EU such as unemployment, structural regional differences and federalism. Drawing on various schools of thought, this book explains the complexities of the crisis through a wider evolutionary-institutional and heterodox framework.
The Economic Decline of Empires
by Carlo M. CipollaThe question of why empires decline and fall has attracted the attention of historians for centuries, but remains fundamentally unsolved. This unique collection is concerned with the purely economic aspects of decline. It can be observed of empires in the process of decline that their economies are generally faltering. Here the similarities in different cases of economic decline are identified, bearing in mind that individual histories are characterized by important elements of originality. In his introduction, Professor Cipolla points out that improvements in standards of living brought about by a rising economy lead to more and more people demanding to share the benefits. Incomes increase and extravagances develop, as new needs begin to replace those which have been satisfied. Prosperity spreads to neighbouring countries, which may become a threat and force the empire into greater military expenditure. For these and other reasons, public consumption in mature empires has a tendency to rise sharply and outstrip productivity and, in general, empires seem to resist change. The ten articles in this collection, first published in 1970, examine separate cases of economic decline, from Rome and Byzantium to the more recent histories of the Dutch and Chinese empires, and demonstrate both the resemblances and the peculiarly individual characteristics of each case.
The Economic Decline of the West: Guns, Oil and Oligarchs
by Wim NaudéThis book argues that the West is in economic decline due to three interrelated factors, described as the Guns-Oil-Oligarchy nexus. It explains how the rise of the West as the world's current hegemon has resulted in an ecological overshoot, the rise of neoliberalism and its slash-and-burn model of continuous growth, extraction, expansion and conquest. With this model pushing against planetary boundaries, threatening ecological disaster, and depleting many resources the Guns-Oil-Oligarchy nexus has deepened its stranglehold on society. This book then dissects the Guns-Oil-Oligarchy nexus. First it describes who the Oligarchs are and how they expand and consolidate their power and influence, and stifle innovation, undermine democracy, hinder responses to climate change, and contribute to militarization and conflict. Secondly, the book explains how Oil has been essential for the economic rise of the West and how it will feature in its decline. Third, the book identifies the rise and influence of the West's Military-Industrial Complex (MIC) as contributing to the West's economic decline. It is shown that the MIC constitutes an oligarchy and, like all oligarchies, uses lobbying, campaign contributions, and control of the mainstream media to expand and consolidate power. Silicon Valley's integration into the MIC is also examined, driven by the search for new profit opportunities as traditional markets become saturated. This book shows why the Guns–Oil–Oligarchy nexus is a simple explanation for the West's economic decline, and how its understanding offers a simple solution to avert further economic decline: the oligarchs' grip must be broken.
The Economic Dependency Trap: Breaking Free to Self-Reliance
by Calvin Helin2012 gold medal winner in the self-help category of the prestigious Ippy Awards This book offers effective strategies to help erase poverty. It advocates self-reliance, policy reform, and cultural awareness. Accountability is required from all: the middle class, the trust fund babies, and the underprivileged who see themselves as perpetual victims and have fallen into the entitlement trap. True blue prints are offered to rescue people from an economical slump and help them improve their lives, and re-obtain a sense of self-worth.
The Economic Development Process in the Middle East and North Africa: Economic Development Process In The Middle East And North Africa (Routledge Studies in Middle Eastern Economies)
by Alessandro Romagnoli Luisa MengoniOffering a comprehensive analysis of the development of economies in the Middle East and North Africa over the past half century, this book charts the progress of these countries through an examination of an Islamic model of economic development, reform processes, and economic integration. Far from being a simple process, economic development in the Middle East and North Africa is dependent on the interaction of a set of changing systems including; international relations, the political regime, economy, and society. By analysing these interdependent factors, The Economic Development Process in MENA seeks to provide answers to the most pressing issues facing the economies in this area. Providing an interpretation of regional development in light of dialectics between state and society, this book will be of value to students and scholars with an interest in the Middle East, Economics, and International Relations.
The Economic Development of Bangladesh in the Asian Century: Prospects and Perspectives (Routledge Studies in the Modern World Economy)
by Quamrul Alam, Atiur Rahman and Shibli Rubayat Ul IslamThis book explains the macro-drivers of growth behind the economic development of Bangladesh. Few countries in the developing world have shown as exciting a promise of economic prosperity as Bangladesh. The promising nature of the Bangladeshi economy raises interesting questions pertaining to whether good governance may lead to sustained economic growth. This book looks at the strategic interventions on macro-level, specifically the policy interventions. This book will be a useful reference to making sense how economic transformation can be strengthened through state-sponsored activities and how states can inculcate a culture of innovation which can be regarded as one of the underpinnings of economic growth.
The Economic Development of Canada
by Richard PomfretFirst Published in 2005. Routledge is an imprint of Taylor & Francis, an informa company.
The Economic Development of China (Routledge Library Editions: Business and Economics in Asia #9)
by Victor D. LippitThis book, first published in 1987, studies the forces promoting underdevelopment in China prior to 1949 and the character of the development that has occurred since then. It presents a unified perspective for grasping the development process as a whole, for relating this to the class structure of China, and for considering development in the context of Chinese efforts to carry out a transition to socialism.
The Economic Development of Continental Europe 1780-1870 (Routledge Revivals)
by Alan Milward S. B. SaulUpon its initial publication in 1973 this was the first textbook to present a unified view and comprehensive treatment of the economic development of Europe from a continental rather than a British perspective. At the same time, it is more than mere textbook: it is an interpretive analysis of a wide range of research on the subject in many countries which explores the objective validity of earlier theories and provides an ideal starting point for further research into economic development and European history. The work deals mainly with Western Europe, but in principally studying both France and Germany up to 1870 the authors by no means neglect the smaller countries. Indeed, the work is unusual in dealing fully with the Scandinavian countries and others, such as Switzerland and Belgium. This is a reissue of the fully revised and corrected second edition of the work, first published in 1979.
The Economic Development of Europe's Regions: A Quantitative History since 1900 (Routledge Explorations in Economic History)
by Nikolaus Wolf Joan Ramón RosésThis book is the first quantitative description of Europe’s economic development at a regional level over the entire twentieth century. Based on a new and comprehensive set of data, it brings together a group of leading economic historians in order to describe and analyze the development of European regions, both for nation states and for Europe as a whole. This provides a new transnational perspective on Europe’s quantitative development, offering for the first time a systematic long-run analysis of national policies independent from the use of national statistical units. The new transnational dimension of data allows for the analysis of national policies in a more thorough way than ever before. The book provides a comprehensive database at the level of modern NUTS 2 regions for the period 1900–2010 in 10-year intervals, and a panoramic view of economic development both below and above the national level. It will be of great interest to economic historians, economic geographers, development economists and those with an interest in economic growth.
The Economic Development of Ireland in the Twentieth Century (Routledge Contemporary Economic History of Europe)
by Thomas Giblin Kieran Kennedy Deirdre McHughThis book examines Irish economic development in the twentieth century compared with other European countries. It traces the growth of the Republic's economy from its separation from Britain in the early 1920s through to the present. It assesses the factors which encouraged and inhibited economic development, and concludes with an appraisal of the country's present state and future prospects.
The Economic Development of Russia 1905-1914: With Special Reference to Trade, Industry, and Finance (Routledge Library Editions: The Russian Revolution)
by Margaret MillerThis book, originally published in 1926 but updated in 1967 analyses Russia’s economy in the decade preceding the outbreak of the First World War. It covers trade, finance, transport and industry and each chapter is supported by statistics drawn from Russian and international sources. The introduction to the second edition links pre-1917 development with late twentieth century economic change and in so doing serves as a guide to assessing Soviet Russia’s internal economic problems against the country’s historical background.
The Economic Development of South Korea: From Poverty to a Modern Industrial State (Routledge Studies in the Modern World Economy)
by Seung-hun ChunHow did a country with a dearth of natural resources, a sprawling population congested in a limited arable land transform itself to a modern industrial state within a generation? How could these have been achieved given the lingering geopolitical threats to its very survival as a state, as evidenced by the Korean War and the internecine aggressive posturing of its neighbor from the north? This book looks at strategies, institutional arrangement, role of entrepreneurs and workers in this odyssey, and on how those factors have worked together through effective leadership to transform South Korea’s economic fortunes.
The Economic Development of South-East Asia: Studies in Economic History and Political Economy (Routledge Revivals)
by C. D. CowanFirst published in 1964, The Economic Development of South-East Asia: Studies in economic history and political economy contains eight papers originally written for a study group at the School of Oriental and African Studies in London. The papers, edited by Professor C. D. Cowan, are written against a background of economic underdevelopment in large parts of Asia. Economic problems increasingly plagued the governments of Asia after the Second World War, and while Western governments were willing to help foster economic development, relations with Asian governments were somewhat hindered by the heritage of their colonial past. Problems also related to the growth of traditional trading ports and export crops, and to the importation of colonial regimes, western funds and skills in the nineteenth century. Such developments come under the loosely generalised concept of imperialism, with its strongly emotional overtones, whose use impedes the objective assessment and analysis of facts. While we understand a good deal about conditions of economic growth in the West, much of what has fostered or retarded growth in other parts of the world remains less clear.
The Economic Development of the Third World Since 1900
by Paul BairochFirst published in 1967, Professor Bairoch’s Diagnostic de L’Evolution Economique du Tiers-Monde has gone into four editions, and has brought the author an international reputation. This English translation is, in effect, another edition based on the latest French text but incorporating much which is not to be found there. The statistical tables have been revised and expanded wherever possible to include figures up to the end of 1972; the bibliography has been specially adapted to include the literature on the subject in the English language; and two new chapters have been written: Chapter 8 on ‘Urbanization’ and Chapter 9 on ‘The labour force and employment’. It has been Professor Bairoch’s aim in this book to examine the development of under-developed countries (including China) during the present century and through the use of comparative statistics to formulate a diagnosis of their growth. His analysis includes, whenever relevant, a comparison between the present economic progress of Third World countries and that of the developed countries at the time of their ‘take off’. Special attention has also been given to China’s unique path of development. In the course of his research the author has elaborated several new series. The production of these new series and their integration with existing data make this book a valuable quantitative economic history of the Third World.
The Economic Development of the USSR (Routledge Library Editions: Soviet Economics #4)
by Roger MuntingThe Economic Development of the USSR (1982) examines the economic advances the Soviet Union made as the first major economy to adopt full-scale socialist planning. It argues that the Soviet experience demonstrates that remarkable quantitative economic progress can be achieved but at a price which Western democracies would not tolerate. Moreover, while the planning and control mechanism of the USSR produced striking results, in the case of agriculture it often failed to produce satisfactory results. The book provides an impartial assessment of the merits and defects of the Soviet planning system, which also served as a model for many other Communist countries.
The Economic Dimension of Eurasian Integration
by Natalia A. PiskulovaHow impactful has the Eurasian Economic Union (EAEU) been since it was signed in 2015? This book provides a thorough and critical analysis of economic integration in the EAEU from the perspective of international economic relations. It focuses on trade, FDI, manufacturing, energy, transport and logistics, science and education, digital economy, labour and ecology. The book also addresses the global positioning of the EAEU by evaluating its existing and potential trade agreements both with third countries and regional blocks. Although the EAEU is an established regional entity that has achieved a number of quantitative and qualitative economic results, there needs to be inclusive dialogue at the intra-regional (within the EAEU) and interregional (for instance, BRICS+) levels to further deepen the economic integration in the EAEU. This book will be of interest to academics and policymakers working in Eurasian economic integration, international economic relations and regional studies.
The Economic Dynamics of Law
by David M. DriesenThis book offers a dynamic theory of law and economics focused on change over time, aimed at avoiding significant systemic risks (like financial crises and climate disruption) and implemented through a systematic analysis of law's economic incentives and how people actually respond to them. This theory offers a new vision of law as fundamentally a macro-level enterprise establishing normative commitments and a framework for numerous private transactions, rather than as an analogue to a market transaction. It explains how neoclassical law and economics sparked decades of deregulation culminating in the 2008 financial collapse. It then shows how economic dynamic theory helps scholars and policymakers make wise choices about how to avoid future catastrophes while keeping open a robust set of economic opportunities, with individual chapters addressing the law and economics of financial regulation, contract, property, intellectual property, antitrust, national security and climate disruption.
The Economic Effects of Air Transport Market Liberalisation: A Perspective Analysis of the Single African Air Transport Market (SAATM) (Advances in African Economic, Social and Political Development)
by Eyden SamunderuThis book rigorously examines the air transport market liberalisation process on the African continent and presents key highlights, challenges, and impediments to embracing an “open skies” market environment in Africa. It focuses on the economic impact of air transport liberalisation, policy constraints, challenges of harmonisation, and regional economic integration and its impact on air transport development, employing a quantitative assessment based on the Air Transport Liberalisation Index (ALI) to evaluate how an open skies policy would change the competitive dynamics of air transport in Africa. Adopting a two-tier gravity model, the book explores how demand and route networks would be impacted by the deregulation of the air transport market. The book also applies a historical perspective by evaluating the initial ratification of the Yamoussoukro Declaration (1999), which acted as a catalyst for Africa’s 2063 regional agenda, focused on establishing the Single African Air Transport Market (SAATM). The book also provides a comprehensive analysis of the African Continental Free Trade Area (AfCFTA), exploring its multifaceted impacts on Africa’s single market from economic, regulatory, and sustainability perspectives. This includes an introduction to the AfCFTA, highlighting its inception as a major step towards continental economic integration aimed at enhancing intra-African trade, promoting sustainable development, and fostering industrial diversification. It then examines the capacity and competency building of African aviation personnel. Training gaps and skills are extensively evaluated to ensure that the African region is prepared for the “new” competitive equilibrium post SAATM. The book also raises critical questions regarding the status of the African air transport market. Firstly, with the introduction of an open skies policy in Africa, will the national flag carriers be able to compete under the new market dynamics? Will the SAATM become a game changer in paving the way for the privatisation of some of Africa’s poor-performing airlines? Will the SAATM create a competitive market and a shift in airfares? How will policymakers deal with the excessive aviation taxes, fees and charges that make airfares in Africa the highest in the world? What will the economic benefits be for signatory states that embrace the SAATM? Will there be a significant growth trajectory in terms of air travel demand? This book is intended for researchers studying air transport economics in developing markets, graduate students with a primary focus on air transport development, senior policymakers and professionals at governmental agencies, and industry practitioners who want to expand their understanding of the dynamics shaping Africa’s air transport landscape.
The Economic Experience: An Introduction through Experiments
by Charles A. Holt Erica SprottAn innovative introduction to economic behavior that uses interactive experiments to promote experience-based discoveryThis book presents a unique active-learning approach to economic thinking, providing a behavioral perspective on basic economic concepts ranging from trust to trade. Each chapter features a classroom experiment where students engage directly with the material as market participants, and chapters come with warm-up exercises, quizzes, and incisive summaries. The Economic Experience empowers students to develop insights into essential economic principles and goes beyond merely documenting behavioral anomalies by showing students how to navigate and anticipate them through hands-on learning and team building.Encourages discovery of key behavioral insights with interactive class simulationsProvides a Socratic structure through lab reports for interpreting and applying lessons from experiment results while interacting with fellow studentsIncludes &“What Economists Do&” sections that highlight key applications and policy issuesCovers standard topics such as gains from trade, marginal analysis, and the resilience of competitive marketsEnables students to experience the negative effects of market imperfections related to monopoly power, non-price rent seeking, corruption, congestion, and inadequate incentives for the provision of public goodsIntroduces notions of risk and strategic behavior in games and auctionsExplains foundational macroeconomic concepts such as financial markets and the role of money while addressing behavioral issues like bank runs and asset market price bubbles that may arise in a macroeconomic settingIs supported by a free website that instructors can use to set up classroom experiments online
The Economic Function of a Stock Exchange
by Robert A. Schwartz John Aidan Byrne Lauren WheatleyIn recent years, exchanges on both sides of the Atlantic have been extensively reengineered, and their organizational structures have changed from non-profit, membership organizations to for-profit, demutualized organizations. Concurrently, new alternative trading systems have emerged and the traditional functions of broker/dealer firms have evolved. How have these changes affected the delivery of that mission? How has the efficiency of capital raising in the IPO market been impacted? These are among the key questions addressed in this book, titled after the Baruch College Conference, The Economic Function of a Stock Market. Featuring contributions from a panel of scholars, academicians, policymakers, and industry leaders, this volume examines current issues affecting market quality, including challenges in the marketplace, growth opportunities, and IPO capital raising in the global economy. The Zicklin School of Business Financial Markets Series presents the insights emerging from a sequence of conferences hosted by the Zicklin School at Baruch College for industry professionals, regulators, and scholars. Much more than historical documents, the transcripts from the conferences are edited for clarity, perspective and context; material and comments from subsequent interviews with the panelists and speakers are integrated for a complete thematic presentation. Each book is focused on a well delineated topic, but all deliver broader insights into the quality and efficiency of the U. S. equity markets and the dynamic forces changing them.
The Economic Geographies of Organized Crime
by Tim HallIllicit and illegal markets play a substantial role in the global economy, yet have received little attention from economic geographers. This incisive, innovative book examines the spatial dimensions of hidden economic practices and asks how organized crime can be understood empirically and conceptually through a geographical lens. Going beyond stereotypes about gangsters, the book explores the role of spatially distant corporate, state, and criminal actors in such activities as trafficking and smuggling of drugs, people, and goods; counterfeiting; cybercrime; corruption; money laundering; financing of terrorist groups; and environmental crime. It suggests ways that a geographical analysis can contribute to improving policies and practices to curb organized crime at the regional, national, and global levels.
The Economic Geography of Air Transportation: Space, Time, and the Freedom of the Sky (Routledge Studies In The Modern World Economy Ser.)
by John T. BowenLike the railroad and the automobile, the airliner has changed the very geography of the societies it serves. Fundamentally, air transportation has helped redefine the scale of human geography by dramatically reducing the cost of distance, both in terms of time and money. The result is what the author terms the ‘airborne world’, meaning all those places dependent upon and transformed by relatively inexpensive air transportation. The Economic Geography of Air Transportation answers three key questions: how did air transportation develop in the century after the Wright Brothers, what does it mean to live in an airborne world, and what is the future of aviation in this century? Examples are drawn from throughout the world. In particular, ample consideration is given to the situation in developing countries, where air transportation is growing rapidly and where, to a considerable degree, the future of the airborne world will be determined. The book weaves together the technological development of aviation, the competition among aircraft manufacturers and their stables of airliners, the deregulation and privatization of the airline industry, the articulation of air passenger and air cargo services in everyday life, and the challenges and controversies surrounding airports. It will be of particular interest to students and researchers in air transport history, the geography of the airline industry, air transport technological development, competition in the commercial aircraft industry, airport development, geography and economics. It will also be useful to professionals working in the airline, airport, and aircraft manufacturing industries.