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Innovation and the State
The 1990s brought surprising industrial development in emerging economies around the globe: firms in countries not previously known for their high-technology industries moved to the forefront in new Information Technologies (IT) by using different business models and carving out unique positions in the global IT production networks. In this book Dan Breznitz asks why economies of different countries develop in different ways, and his answer relies on his exhaustive research into the comparative experiences of Israel, Taiwan, and Ireland-states that made different choices to nurture the growth of their IT industries.
The role of the state in economic development has changed, Breznitz concludes, but it has by no means disappeared. He offers a new way of thinking about state-led rapid-innovation-based industrial development that takes into account the ways production and innovation are now conducted globally. And he offers specific guidelines to help states make advantageous decisions about research and development, relationships with foreign firms and investors, and other critical issues.
eBook
The case for people's quantitative easing
\"As the 2008 financial crisis ravaged economies, central banks turned to quantitative easing to prevent a return to the 1930s. There wasn't a repeat of the Great Depression, but there certainly wasn't a recovery. Instead, there was a decade of stagnation. It's clear: QE failed. In this book, Frances Coppola makes the case for a different type of QE\"-- Provided by publisher.
Book
Awakening giants, feet of clay
The recent economic rise of China and India has attracted a great deal of attention--and justifiably so. Together, the two countries account for one-fifth of the global economy and are projected to represent a full third of the world's income by 2025. Yet, many of the views regarding China and India's market reforms and high growth have been tendentious, exaggerated, or oversimplified.Awakening Giants, Feet of Clayscrutinizes the phenomenal rise of both nations, and demolishes the myths that have accumulated around the economic achievements of these two giants in the last quarter century. Exploring the challenges that both countries must overcome to become true leaders in the international economy, Pranab Bardhan looks beyond short-run macroeconomic issues to examine and compare China and India's major policy changes, political and economic structures, and current general performance.
Bardhan investigates the two countries' economic reforms, each nation's pattern and composition of growth, and the problems afflicting their agricultural, industrial, infrastructural, and financial sectors. He considers how these factors affect China and India's poverty, inequality, and environment, how political factors shape each country's pattern of burgeoning capitalism, and how significant poverty reduction in both countries is mainly due to domestic factors--not global integration, as most would believe. He shows how authoritarianism has distorted Chinese development while democratic governance in India has been marred by severe accountability failures.
Full of valuable insights,Awakening Giants, Feet of Clayprovides a nuanced picture of China and India's complex political economy at a time of startling global reconfiguration and change.
eBook
Special Economic Zones
Ask three people to describe a special economic zone (SEZ) and three very different images may emerge. The first person may describe a fenced-in industrial estate in a developing country, populated by footloose multinational corporations (MNCs) enjoying tax breaks, with laborers in garment factories working in substandard conditions. In contrast, the second person may recount the 'miracle of Shenzhen,' a fishing village transformed into a cosmopolitan city of 14 million, with per capita gross domestic product (GDP) growing 100-fold, in the 30 years since it was designated as an SEZ. A third person may think about places like Dubai or Singapore, whose ports serve as the basis for wide range of trade- and logistics-oriented activities. In this book, the author use SEZ as a generic expression to describe the broad range of modern economic zones discussed in this book. But we are most concerned with two specific forms of those zones: (1) the export processing zones (EPZs) or free zones, which focus on manufacturing for export; and (2) the large-scale SEZs, which usually combine residential and multiuse commercial and industrial activity. The former represents a traditional model used widely throughout the developing world for almost four decades. The latter represents a more recent form of economic zone, originating in the 1980s in China and gaining in popularity in recent years. Although these models need not be mutually exclusive (many SEZs include EPZ industrial parks within them), they are sufficiently different in their objectives, investment requirements, and approach to require a distinction in this book.
eBook
Economic Crises and the Breakdown of Authoritarian Regimes
Why do some authoritarian regimes topple during financial crises, while others steer through financial crises relatively unscathed? In this book, Thomas B. Pepinsky uses the experiences of Indonesia and Malaysia and the analytical tools of open economy macroeconomics to answer this question. Focusing on the economic interests of authoritarian regimes' supporters, Pepinsky shows that differences in cross-border asset specificity produce dramatically different outcomes in regimes facing financial crises. When asset specificity divides supporters, as in Indonesia, they desire mutually incompatible adjustment policies, yielding incoherent adjustment policy followed by regime collapse. When coalitions are not divided by asset specificity, as in Malaysia, regimes adopt radical adjustment measures that enable them to survive financial crises. Combining rich qualitative evidence from Southeast Asia with cross-national time-series data and comparative case studies of Latin American autocracies, Pepinsky reveals the power of coalitions and capital mobility to explain how financial crises produce regime change.
eBook
The quest for prosperity
How can developing countries grow their economies? Most answers to this question center on what the rich world should or shouldn't do for the poor world. InThe Quest for Prosperity, Justin Yifu Lin-the first non-Westerner to be chief economist of the World Bank-focuses on what developing nations can do to help themselves. Lin examines how the countries that have succeeded in developing their own economies have actually done it. Interwoven with insights, observations, and stories from Lin's travels as chief economist of the World Bank and his reflections on China's rise, this book provides a road map and hope for those countries engaged in their own quest for prosperity.
eBook