Integration And Growth In A Globalized World Economy
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Integration and Growth in a Globalized World Economy by Alassane D. Ouattara Pdf
This paper presents four commentaries by an IMF Deputy Managing Director on integration and growth in a globalized world economy. Globalized and integrated financial markets are the norm, complete with their tremendous opportunities—the chance to quicken the pace of investment, job creation, and growth—and, some inevitable risks. The paper also highlights that sound macroeconomic policies must be a top priority, and that these policies must be supported by transparency and accountability. Policies at the country and global level must be mutually reinforcing; industrial countries meeting the more outward-oriented policies of developing countries with greater openness around the world. It is recommended that the IMF agenda must include adopting bold structural reforms and building a social consensus for reform through economic security, good governance, and a better dialogue with civil society in Africa. In the Berlin address, it is suggested that development rests on three pillars: good economic policy, a favorable legal and political environment, and attention to equitable social development.
Author : Paul Collier,David Dollar Publisher : World Bank Publications Page : 200 pages File Size : 50,7 Mb Release : 2002 Category : Business & Economics ISBN : 082135048X
Globalization, Growth, and Poverty by Paul Collier,David Dollar Pdf
Globalization - the growing integration of economies and societies around the world, is a complex process. The focus of this research is the impact of economic integration on developing countries and especially the poor people living in these countries. Whether economic integration supports poverty reduction and how it can do so more effectively are key questions asked. The research yields 3 main findings with bearings on current policy debates about globalization. Firstly, poor countries with some 3 billion people have broken into the global market for manufactures and services, and this successful integration has generally supported poverty reduction. Secondly, inclusion both across countries and within them is important as a number of countries (pop. 2 billion) are failing as states, trading less and less, and becoming marginal to the world economy. Thirdly, standardization or homogenization is a concern - will economic integration lead to cultural or institutional homogenization?
Globalisation, FDI, Regional Integration and Sustainable Development by Anthony Bende-Nabende Pdf
This title was first published in 2002: Anthony Bende-Nabende focuses on the ongoing globalization process, which has sparked an unprecedented world-wide debate. He provides a one-stop centre for a balanced coverage of the theoretical, empirical and policy issues linking globalization with foreign direct investment, regional economic integration, and economic growth and sustainable development. This stimulating book comprehensively explores the theoretical and empirical literature inter-linking the aforementioned factors from the anti-globalization activists’ viewpoint, and from the pro-globalization proponents’ perspective. It proposes policies that individual countries should pursue, based on the recognition that globalization generates both positive and negative effects. These comprise policies required to maximise the economic benefits globalization may generate, and those that aim to eliminate or at least minimize the negative development-oriented effects globalization may engender and, hence, to propel sustainable development. The book will be an essential guide for students, academics and those involved in international economics, environmental studies, international relations, and growth and development studies.
Globalization, Development and Integration by Pompeo Della Posta,Milica Uvalic,Amy Verdun Pdf
"Globalization, Development and Integration offers a European perspective on globalization. It looks at some of the characteristics of the current phase of globalization, such as the asymmetries in the way it manifests itself in daily life, including the crucial and often controversial role played by agriculture, and the effects that it produces on poverty and inequality throughout the world.The book devotes particular attention to the problems experienced by developing countries, by studying what the appropriate macroeconomic policies are to deal with globalization, and how international labour markets work in a globalized economy."--BOOK JACKET.
China's Integration with the Global Economy by Chunlai Chen Pdf
This comprehensive collection provides a remarkable wealth of information and a timely assessment of China's economic development and integration with the global economy after WTO accession. Chunlai Chen brings together a distinguished group of scholars who employ economic theories, econometric modelling techniques and the latest statistics to analyze many important issues. These hotly debated topics include China's economic growth, international trade, regional trade arrangements, foreign direct investment, banking sector liberalization, exchange rate reform, agricultural trade and energy demand. Aimed at an international audience, this highly focused book will be of great benefit to academics and postgraduate students involved in Chinese economy and business studies, as well as researchers in international trade and foreign investment.--Publisher.
Author : International Monetary Fund Publisher : International Monetary Fund Page : 100 pages File Size : 55,7 Mb Release : 1999-09-28 Category : Business & Economics ISBN : 1455284025
Global Competition and Integration by Ryuzo Sato,Rama V. Ramachandran,Kazuo Mino Pdf
Global Competition and Integration offers varied perspectives on the changing international economy. The book is divided into four main sections covering world trade and competition, innovation and growth, financial markets and globalization, and regulation, distribution, and the role of government.
Regionalism and Global Economic Integration by William D. Coleman,Geoffrey D. Underhill Pdf
This scholarly and interdisciplinary volume sheds much needed light on the realtionship between national policies, regional integration patterns and the wider global setting. It covers regional patterns in Europe, Asia and the Americas. Individual chapters focus on topics ranging from industrial or financial policies to social welfare regimes, as well as broader assessments and comparisons of regional arrangements in a global context. The chapters point to the diversity of regional patterns in the world economy and the continuing importance of national regulatory structures, yet they also point to the common pressures of globalisation felt by all, especially in the domain of capital markets. With broad coverage and clear but sophisticated analysis this new book will be vital reading to all those seeking to clarify their understanding of the contemporary regional/global paradox.
Regionalization and Globalization in the Modern World Economy by Alex E. Fernández Jilberto,André Mommen Pdf
Originally published in 1998. This collection of outstanding essays explores the importance of regionalization and globalization to the world economy. International contributions explore the process of regionalization in the Pacific Area, The Americas, Africa and Europe, and question whether the world economy is characterized by increasing regionalization, rather than globalization. The book is an excellent contribution to debate on development economics. It investigates how the processes of globalization and regionalization, driven by liberalization of trade and capital markets, weaken nationally established monopolies and protected industries and it looks at the challenge to Third World nations and the countries of the former socialist bloc.
Globalization and Trade Integration in Developing Countries by Ahu Coskun Ozer Pdf
"This book addresses the difficulties and challenges that developing countries have faced in world trade. It explores different aspect of trade integrations, trade policies, trade corporations in developing countries and related topics"--
Asian Economic Integration in an Era of Global Uncertainty by Shiro Armstrong,Tom Westland Pdf
The Pacific Trade and Development (PAFTAD) conference series has been at the forefront of analysing challenges facing the economies of East Asia and the Pacific since its first meeting in Tokyo in January 1968. The 38th PAFTAD conference met at a key time to consider international economic integration. Earlier in the year, the people of the United Kingdom voted to leave the European Union and the United States elected Donald Trump as their next president on the back of an inward-looking ‘America First’ promise. Brexit and President Trump represent a growing, and worrying, trend towards protectionism in the North Atlantic countries that have led the process of globalisation since the end of the Second World War. The chapters in the volume describe the state of play in Asian economic integration but, more importantly, look forward to the region’s future, and the role it might play in defending the global system that has underwritten its historic rise. Asia has the potential to stand as a bulwark against the dual threats of North Atlantic protectionism and slowing trade growth, but collective leadership will be needed regionally and difficult domestic reforms will be required in each country.
Development & Growth: Economic Impacts of Globalization by Farhang Morady, Hakan Kapucu, Ömer Yalçınkaya Pdf
The growth paradigm or the economic growth generally been presented as a positive, limitless and good for social problems. The term was hardly touched in pre-capitalism by any academic research. With the rise of capitalism and industrial revolution it became an important tool to measure production quantitatively and qualitatively. Industrialisation also encouraged the expansion of trade and gradual breakdown of the pre-capitalist order in 18th century in Britain. The spread of market had facilitated the specialisation, encouraging division of labour. Whilst for The Classical Political Economists; Adam Smith, David Ricardo and Thomas Malthus; economic growth is self-reinforcing. Marx pointed out importance of forces and relations of production and significance of social classes within it (Marx, 1863). Smith, Ricardo and Malthus were writing at a time when capitalist development was expanding fast and growth was a central in the process. The gradual impact of the West on the rest of world became part of a wider process of change in the World Economy. European capital increased its domination of the world trade through expansionist commercial policies (Wallerstein, 1979). The economic growth encouraged commerce. The necessity to export, and other technological changes formed part of the reason for the decline of feudalism. This transition from feudalism to capitalism began in the West and soon made an impact on the rest of the World. T Farhang Morady, Hakan Kapucu, Ömer Yalçınkaya (Development & Growth: Economic Impacts of Globalization) 12 In 1932 Simon Kuznets, the US economist identified Gross Domestic Product (GDP) to measure the national output of a country within a period. It has continued to be an important indicator to measure economic growth, but it has also been under considerable criticisms. For example; GDP treats resources as income without excluding depletion or depression of the resources. Moreover, GDP has been criticised for disregarding income distribution. Despite all the criticism, GDP has been the most significant indicator of growth and development. With the Post War-II reconstruction of devastated countries and in order to kick-start the World Economy, the state in both developed and developing counties became the important agency to facilitate economic growth. The establishment of the Bretton Woods institutions, the Keynesian model of government intervention and the US implementation of “New Deal” facilitated growth. This was deliberate strategy to reconstruct and create networks of international cooperation. This was pointed out by President Truman in 1949: A program of development based on the concepts of democratic fair-dealing. All countries, including our own, will greatly benefit from a constructive program for the better use of the World's human and natural resources (Truman, 1949). This meant the reinforcement and need to distribute the 'Benefits' of capitalist form of development, more widely, against the planned economy sustained by the Soviet Union. The economist such as Joseph Schumpeter pointed to the possibility that capitalist growth, if it is sustained, could abolish poverty (Schumpeter, 1954, pp66-68). Whilst development meant rapid industrialisation, GDP became a key policy objective for the policy makers and governments around the world, not just in the Soviet Union but the Western Capitalist World, to set targets for their Growth Rate. The end of the Cold War in the 1980s, for some, meant triumph of Neoliberal Capitalism. The others talked of trade liberalization; free movement of capital and the development of information technology, facilitating the relocation of businesses across the world. (Ohmae, 1995). Friedman suggested that globalization is the Inevitable; Integration of markets, nation-states and technologies ... enabling individuals, corporations and nation-states, to reach around the world farther, faster, deeper and cheaper than ever before (Friedman, 1999). Development & Growth: Economic Impact of Globalization (Edited by: Farhang Morady, Hakan Kapucu, Ömer Yalçınkaya) 13 Francis Fukuyama (1992) suggested the new era as ‘The End of History’ through which the ‘Liberal Idea’ triumphed, leading to a new global hegemony. For Fukuyama the only route to modernity, growth and development is the Neo-liberal Democratic path under Global Capitalism. This optimism was not shared by all academics, as Globalization produced poor growth and polarization of wealth: what Collier terms the ‘Bottom one Billion’ (2008). As a result, there has been major criticism of the World Bank and the International Monetary Funds in the second half of the 1990s, especially with the Asian financial and economic crises. The response from these institutions has been vigorous. They continued to believe that liberalization, deregulation, and privatization represent the best way forward for growth and development. With 2008 world recession the World Economy has faced a new challenge. The emergence of powerful economies such as; China, India and Brazil; helped the world economy to grow, at least for now. However, the unevenness of the world economy continues to cause difficulties especially the US as they feeling the threat of their competitors such as China, Germany and even India. The victory of Donald Trump as the S President has represented an ideological shift from free trade advocator of global capitalism to a mixture of right-wing populism. Before and after the presidential election, he called for the revival of the American economy, which has been under considerable pressure since 2008 World Recession. In order to prove growth rate Trump has a huge challenge ahead, not least to deal with the competition from South East Asian economies, especially China. It remains to be seen whether the new US administration will continue with their populist rhetoric In this book, “Economic Impacts of Globalization: Growth & Development”, several academicians provide different analysis of economic growth and economic development. The scientific ethics and responsibility of the works in the book belong to the authors / writers. The book compromises of 15 chapters focusing on economic growth and economic development in the era of globalisation. By taking different angles, they demonstrate different problems and solutions.
Globalizing America by Thomas L. Brewer,Gavin Boyd Pdf
An argument that globalization is an ungoverned integration process in which US firms are agents of structural change. It describes the benefits and costs (for example, generating pressure for protection of US home markets), and reviews the expansion of interdependencies between the US and others.
Measuring Globalisation by Axel Dreher,Noel Gaston,Pim Martens Pdf
Globalisation is a timely and controversial topic. Against the chorus of globalisation’s proponents and detractors, the authors propose an approach for measuring globalisation and its consequences. Undertaking a comprehensive review of the literature on globalisation and using data from the MGI and KOF indices, the well-respected authors build a framework for defining globalisation and analyzing the relationships among economic, political, and social variables.