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Author : International Monetary Fund Publisher : International Monetary Fund Page : 36 pages File Size : 45,9 Mb Release : 1998-09-01 Category : Business & Economics ISBN : 9781451928907
From Autarky to Integration by International Monetary Fund Pdf
The effects on growth of the integration of an autarkic country into the world economy are analyzed, focusing on the differing roles of imitation and innovation in human capital accumulation. The country initially concentrates on imitation of foreign knowledge; subsequently, as it approaches the knowledge frontier, innovation plays a greater role. Late developers catch up with the rest of the world more rapidly than early developers, reflecting the relatively large imitation opportunity available to them. Restrictions on foreign borrowing reduce the speed of adjustment to the steady state and lower growth and welfare for the country that imposes them.
This textbook provides a comprehensive and unique introduction to modern microeconomics. It adopts an integrative approach, positioning the main findings of economics in a broader context. It critically reflects on theories from a philosophical standpoint and compares them to approaches found in the social sciences, while at the same time highlighting the implications for the design of legal systems and business practices. Intended for undergraduate students, the book presents brief examples and comprehensive case studies to help them grasp the real-world implications of the theories. As such, it is suitable for an applied, yet technically precise approach to teaching microeconomics, as well as for a critical review of the economic mainstream. Starting from the question as to why and how societies organize economic activity, it analyzes the potential and limitations of various types of market with regard to alleviating scarcity and achieving distributive objectives, from an institutional perspective. This second edition systematically expands on decision theory by including chapters on traditional decision theory under risk and uncertainty, and on behavioral economics, as well as a chapter presenting findings from the neurosciences, evolutionary psychology, and narrative psychology. Furthermore, there are theoretical additions, along with updated case studies and examples – from trade wars to pandemics and the climate crisis. A new edition of the companion workbook features a wealth of exercises, ranging from basic multiple-choice questions to challenging mathematical problems and case studies, is also available.
The Gains and Pains of Financial Integration and Trade Liberalization by Rajib Bhattacharyya Pdf
Geared towards policy makers, researchers, academics, and business and management professionals, The Gains and Pains of Financial Integration and Trade Liberalization helps readers develop new theories and models for analysing the future trends in finance and trade-related issues.
Integrating Europe's Financial Markets by Mr.Jörg Decressin,Mr.Wim Fonteyne,Mr.Hamid Faruqee Pdf
By and large, EU financial integration has been a success story. Still, the reform agenda is far from finished. What are the remaining challenges? What are the gains of closer financial market integration? This IMF book tracks the European Union's journey along the path to a single financial market and identifies the challenges and priorities that remain ahead. It pays particular attention to the most recent integration efforts in the European Union following the introduction of the euro. The study looks at the importance of financial integration, in particular for economic growth, the interplay between banks and markets, and equity market integration. It closely examines the relationship between financial integration and financial stability. This interaction presents the European Union with a challenge, but also with the opportunity to play a pioneering role in developing a regional approach to financial stability that could provide lessons for the rest of the world.
Flexible Regional Economic Integration in Africa by Timothy Masiko Pdf
This book examines the relationship between flexible regional economic integration in the East African Community (EAC), through its application of variable geometry, and the establishment of the African Continental Free Trade Area (AfCFTA) as a continent-wide form of integration. It uses a historical, political, legal and economic analysis of the processes that led to the adoption of flexible regional integration in Africa, with particular regard to the EAC. This takes place in the inescapable context of pan-Africanism, showing how regional integration efforts in Africa are based on pan-Africanist ideals, and how an evolution of these ideals has led to an evolution in the goals of integration. With growing awareness of the weaknesses and impracticality of consensus-based decision-making on a global level, it makes the case for the pursuit of flexibility in multilateral trade, drawing lessons from the experience of the AfCFTA and blocs in other regions. This book is a historical evaluation of regional economic integration efforts in Africa and it follows the path of attempts to integrate the economies on the continent from colonial times to the birth of the AfCFTA. While it is a study in law, it relies heavily on politics, economics and history to weave together a more complete theory of economic integration based on the African experience. Flexible Regional Economic Integration in Africa was awarded the 2020 SIEL–Hart Prize in International Economic Law.
One World Emerging? Convergence And Divergence In Industrial Societies by Alex Inkeles Pdf
In One World Emerging? Alex Inkeles clarifies the meaning of convergence in the social organization of modern societies, shows how it can be measured, and illustrates in detail the manner and degree of convergence across national boundaries. Inkeles assesses the extent to which convergence in institutional patterns is reflected in the emergence of more common attitudes, values, and daily behaviors in different national populations as individuals and communities engage with and respond to the standardizing pressures of national development and global modernization. One popular image of the probable condition of humanity in the twenty-first century anticipates a new Armageddon with all the great civilizations at war with each other. This model neglects a less dramatic but deeper-seated process of worldwide change in which national economic and political systems become more alike and populations worldwide come to adopt similar lifestyles and develop similar attitudes and values for daily living. Alex Inkeles penetrating analysis focuses on this process of convergence.In One World Emerging? Inkeles clarifies the meaning of convergence in the social organization of modern societies, shows how it can be measured, and illustrates in detail the manner and degree of convergence across national boundaries. Sensitive to evidence counter to the main trend, he gives close attention to the many instances in which national differences persist and nations and their populations diverge from a common path.At the national level, he compares and contrasts the modernization of the United States, Russia, China, and India. Focusing on particularly important institutions, he reviews the process of convergence in prestige hierarchies, the family, education, and communications. Capping the enterprise, Inkeles assesses the extent to which convergence in institutional patterns is reflected in the emergence of more common attitudes, values, and daily behaviors in different national populations as individuals and communitiesin North America, Europe, and increasingly in Asiaengage with and respond to the standardizing pressures of national development and global modernization.
Between State Capitalism and Globalisation by Gareth Dale Pdf
This book is an exploration of the economic history of the German Democratic Republic, with an emphasis upon its confrontation by and contribution towards economic and military competition on the world stage. Beginning with an analysis of the Soviet bloc as a state-capitalist formation, the GDR's economic history is charted, with detailed examinations of the challenges to Soviet-style autarky that were posed by the globalising world market, as well as of GDR policymakers' attempts to use Western imports and credits as a 'whip' to spur growth. The book's central section consists of an exploration of the ambivalent attitudes of East German policymakers and industrialists towards their West German counterparts in the 1980s, as the whip was transformed into an ever-tightening noose of debt. Here, a prodigious range of secondary sources as well as hitherto unpublished documents from the archives of the old regime are drawn upon to document the means by which relative economic decline and dependency upon Western institutions came to constrain the options available to the East German nomenklatura. Finally, this study analyses the political economy of the 1989 revolution and unification and of post-unification Eastern Germany.
International Investment, Political Risk, and Growth by Philipp Harms Pdf
Following substantial policy reforms in many countries, the past decade has been characterized by a remarkable increase of long-term private capital flows to the developing world. However, the bulk of these investments has concentrated on a few economies at the intermediate level of the international income distribution, while the large number of low-income countries has been mostly neglected by international investors. Starting from these observations, International Investment, Political Risk, and Growth analyzes the potential growth effects of liberalizing investment regimes in developing economies and offers an explanation for the apparent bias of private capital flows towards middle-income countries. It demonstrates that the removal of investment barriers may liberate an economy from a vicious circle of poverty, unproductive saving, and low growth, and presents a novel approach to analyzing the role of political risk as a major impediment to greater private capital inflows. Offering a combination of theoretical models and empirical analysis, and discussing both the historical evidence and the recent literature, this book contributes to a better understanding of the determinants and consequences of international investment in developing countries.
Deepening and enlarging regional integration blocs is high on the political agenda, as can be seen most notably in the last decade of the European in tegration process. The effects of this process have been studied extensively. But, until recently, these studies have been limited to the theoretical anal ysis of static effects of regional integration. The revival of growth theory has, however, in principle provided a set of models and tools which allow to investigate the dynamic effects of regional integration. At the same time, the "new regional economics" (or economic geography) literature allowing to focus on the special features of regional integration and integration blocs has emerged. The aim of this study is to merge endogenous growth approaches with "new regional economics" models in order to investigate various aspects of the long-run effects of regional integration in a dynamic general equilibrium framework. It is needless to say that such an analysis can cover only selected issues and leaves others aside. It is the purpose of the present study, how ever, to look at both types of regional integration: the dynamic effects of a deepening of the integration process as well as of an enlargement of the integration bloc. This is done on the basis of an investigation of empirical regularities of regional developments in an integration bloc (mainly in the European Union).
Growth and International Trade by Karl Farmer,Matthias Schelnast Pdf
Revised and updated for the 2nd edition, this textbook guides the reader towards various aspects of growth and international trade in a Diamond-type overlapping generations framework. Using the same model type throughout the book, timely topics such as growth with bubbles, robots and involuntary unemployment, financial integration and house price dynamics, policies to mitigate climate change and the persistence of religion in a globalized market economy are explored. The first part starts from the “old” growth theory and bridges to the “new” growth theory (including R&D and human capital approaches). The second part presents an intertemporal equilibrium theory of inter- and intra-sectoral trade, investigates innovation, growth and trade and limits to public debt as well as nationally and internationally optimal climate policies. The debt dynamics of the Euro Zone and the origins of intra-EMU and Asian-US trade imbalances are also explored. The book is primarily addressed to upper undergraduate and graduate students wishing to proceed to the analytically more demanding journal literature.
Revised and updated for the 2nd edition, this textbook provides an analysis and investigation of the most essential areas of environmental economic theory and policy, including international environmental problems. The approach is based on standard theoretical tools, in particular equilibrium analysis, and aims to demonstrate how economic principles can help to understand environmental issues and guide policymakers. Current topics including climate change, overfishing and integrated approaches to environmental policies are carefully analyzed in this framework, and a multitude of practical examples from various parts of the world is presented. Addressing undergraduate and graduate students, this book is a must read for everybody interested in a better understanding of environmental economics.
The Evidence and Impact of Financial Globalization by Anonim Pdf
The sharp realities of financial globalization become clear during crises, when winners and losers emerge. Crises usher in short- and long-term changes to the status quo, and everyone agrees that learning from crises is a top priority. The Evidence and Impact of Financial Globalization devotes separate articles to specific crises, the conditions that cause them, and the longstanding arrangements devised to address them. While other books and journal articles treat these subjects in isolation, this volume presents a wide-ranging, consistent, yet varied specificity. Substantial, authoritative, and useful, these articles provide material unavailable elsewhere. Substantial articles by top scholars sets this volume apart from other information sources Rapidly developing subjects will interest readers well into the future Reader demand and lack of competitors underline the high value of these reference works