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This important book offers valuable insights into the process of economic reform in developing countries. It is organized around three dimensions that are deemed critical to the success of reform programmes. According to Nobel Laureate Amartya Sen, these key factors are Reach, Range, and Reason. 'Reach' refers to the ability of reform to be person-centered and evenhanded, reaching all individuals in society. 'Range' considers the institutional reforms and policy changes necessary to implement change and the possible ripple effects on other policies and populations. Finally, 'Reason' captures the importance of constantly asking why a particular reform has been selected.By analysing the reform process from this particular perspective, the chapters in this volume illustrate the success of this approach with specific examples prepared by authors from developing and transition countries and, in doing so, reveal the breadth of knowledge and home-grown expertise in the developing and transition world. Among academics, the book will appeal to those teaching courses in political economy, development studies, globalization, and public policy. It will also be of great interest to policy-oriented researchers and policymakers at international institutions, think tanks and policy research institutes, as well as at development agencies, ministries and departments.
Conventional interpretations of the New Economic Policy introduced in India in 1991 see this program of economic liberalization as transforming the Indian economy and leading to a substantial increase in the rate of India's economic growth. But in a country like India, growth is not enough. Who benefits from the new growth regime, and can it significantly improve the conditions of livelihood for India's 800 million people with incomes below $2.00 a day? This edited volume looks at international policy regimes and their national adoption under strategic conditions of economic crisis and coercion, and within longer-term structural changes in the power calculus of global capitalism. The contributors examine long-term growth tendencies, poverty and employment rates at the national level, regional level and local levels in India; the main growth centers; the areas and people left out; the advantages and deficiencies of the existing policy regime, and alternative economic policies for India. Bringing together the leading figures in the discussion on India's economic policy, this volume is the authoritative critical study of India's New Economic Policy.
Since China's reform and opening up started in 1978 and Vietnam's Doi Moi reforms were initiated in 1986, these two East Asian economies have adopted capitalistic models of development while retaining and reforming their socialist legal systems along the way. Tracking the trajectory of socialist laws and their legacy, this book offers a unique comparison of laws and institutional designs in China and Vietnam. Leading scholars from China, Vietnam, Australia and the United States analyze the history, development and impact of socialist law reforms in these two continuing socialist states. Readers are offered a varied insight into the complex quality and unique features of socialist law and why it should be taken seriously. This is a fresh theoretical approach to, and internal critique of, socialist laws which demonstrates how socialist law in China and Vietnam may shape the future of global legal development among developing countries.
The contributors to this original volume of theoretically grounded case studies of the entrepreneurial phenomenon look at the process of entrepreneurship in the emerging regions of India, China, Ireland, Eastern Europe, North and South America, and North and South-East Asia. The book's organization is designed to take the reader from a general framework for understanding the relationship between economic development and entrepreneurship to more specific examples of how entrepreneurs and their firms respond to the opportunity and threats that are dynamically evolving in such places. The case studies provide scholars with the opportunity to develop theoretically grounded research questions that will advance the field beyond what we already know from previous work in the contexts of the US and developed economies. The book represents the first serious attempt to suggest new theoretical frameworks for understanding the emergence of entrepreneurship in regions that do not have all of the classical prerequisites (such as financial and human capital, favorable geography, institutional infrastructures, and so on) predicted in extant development models. This book takes an important step forward in our knowledge of entrepreneurship and will be of great interest to scholars and graduate students in business, economic development, and regional studies; policymakers in economic development, technology transfer, and financial markets; and journalists following business and development issues in emerging regions.
Ecological Economics and Sustainable Development comprises a carefully chosen selection of some 25 articles, speeches, congressional testimonies, reviews, and critiques from the last ten years of Herman Daly's ever-illuminating work. This book seeks to identify the blind spots and errors in standard growth economics, alongside the corrections that ecological economics offers to better guide us toward a sustainable economy - one with deeper biophysical and ethical roots. Under the general heading of sustainability and ecological economics, many specific topics are here brought into relation with each other. These include: limits to growth; full-world versus empty-world economics; uneconomic growth; definitions of sustainability; peak oil; steady-state economics; allocation versus distribution versus scale issues; non-enclosure of rival goods and enclosure of non-rival goods; production functions and the laws of thermodynamics; OPEC and Kyoto; involuntary resettlement and development; resource versus value-added taxation; globalization versus internationalization; immigration; climate change; and the philosophical presuppositions of policy, including the policies suggested in connection with the topics above. This fascinating work will appeal to scholars and academics of ecological, environmental, development, and environmental resource economics and studies.
Where do new multinationals come from? How do firms in developing economies become global players? Gita Sud de Surie provides new perspectives on internationalization and the multinational corporation by focusing on firms in emerging markets rather than established multinationals in industrialized economies. She shows that firms in developing countries are not passive recipients of technology; rather, the attempt to absorb new technologies builds capabilities and generates new aspirations propelling them from being adopters of technology to innovators and participants in the global knowledge economy. Knowledge, Organizational Evolution, and Market Creation documents the emergence of the Indian multinational by looking at data from firms in the `old' economy, such as those in manufacturing, steel-making, automotive components and heavy machinery and the `new economy' such as software and biotechnology. The author provides insights on knowledge transfer, innovation and capability building processes through in-depth case studies in these industries and suggests that both entrepreneurship and distributed innovation are critical for the growth of firms globally. This book will be valuable for scholars in international management, business policy and strategy, organization and management theory, economic sociology and history and technology and innovation management. Analysts, consultants and executives will find many useful insights in this book as well.
Poverty remains one of the most intractable problems in the developing world. Microfranchising offers great promise in alleviating poverty by aiding in the foundation of locally owned businesses. Microfranchising is defined as small businesses whose start-up costs are minimal and whose concepts and operations are easily replicated. It involves the systematizing of microenterprises to create and replicate turnkey businesses for the poor. With the awarding of the 2006 Nobel Peace Prize, attention has increased on this remarkable concept. This unique book provides an overview of the need to alleviate poverty and what methods have been used in the past to do so (e.g. microcredit). It then introduces the concept of the microfranchise and discusses how this business model can be used in poverty alleviation. Different models of microfranchising are reviewed and specific case studies highlighted to show how it has worked in different parts of the world. This book concludes with a discussion of the advantages as well as the potential problems and pitfalls that accompany microfranchising. This book is a must read for business scholars and economists, practitioners and lenders, members of NGOs dedicated to poverty alleviation and anyone else who is interested in learning about an innovative, business focused tool to alleviate poverty.
This book focuses on the future of China and its sustainable development, and summarizes the implications, forms, causes, countermeasures and related rules of the main costs generated during a country's period of development, so as to provide a theoretical reference and decision-making consulting tools for institutions and scientific governance and management professionals. Combining China's national situation and development characteristics with the country as a unit, it uses case studies to propose the concept of cost theory and the theoretical system of national development cost. Focusing on the goals of innovation in nation building, common development and prosperity, as well as enhancement of people's net welfare, the book summarizes and draws conclusions about various aspects of national development, including economic development cost; political, social and cultural development cost; foreign opening-up development cost and nature development cost. It primarily establishes an indicator system of national development cost for promoting full-factor productivity and reducing development cost, and provides a theoretical basis for implementing the scientific political-achievement view.
Over roughly the past decade, oil and gas production in the United States has surged dramatically-thanks largely to technological advances such as high-volume hydraulic fracturing, more commonly known as "fracking." This rapid increase has generated widespread debate, with proponents touting economic and energy-security benefits and opponents highlighting the environmental and social risks of increased oil and gas production. Despite the heated debate, neither side has a monopoly on the facts. In this book, Daniel Raimi gives a balanced and accessible view of oil and gas development, clearly and thoroughly explaining the key issues surrounding the shale revolution. The Fracking Debate directly addresses the most common questions and concerns associated with fracking, including: What is fracking? Does fracking pollute the water supply? Will fracking make the United States energy independent? Does fracking cause earthquakes? How is fracking regulated? Is fracking good for the economy? Coupling a deep understanding of the scholarly research with travels to every major U.S. oil- and gas-producing region, Raimi highlights stories of the people and communities affected by the shale revolution, for better and for worse. The Fracking Debate provides the evidence and context that have so frequently been missing from the national discussion of the future of oil and gas production, offering readers the tools to make sense of this critical issue.
Books on innovation have proliferated in the last quarter of a century, during what the author describes as 'the Schumpeterian Renaissance'. This volume provides an authoritative account of many of these new developments and represents the foundation of much ongoing research on innovation. This superlative set of essays by Chris Freeman, founder of SPRU and one of the pioneers of innovation studies, will be of interest to anyone wanting to gain a deeper understanding of technical and social change. The wide-scope lens of the author covers topics ranging from business cycles, through National Systems of Innovation to the information technology paradigm. Having this valuable material in a single volume will be welcomed by all those involved in the economics of innovation, be it in theory, policy or practice.
Why have Africans not gained a more dominant position in urban manufacturing in Kenya? This question is explored through an analysis of the institutions, both formal and informal, that have affected patterns of capital accumulation in Kenya by the African and Asian (Indian) communities. Using a new institutional economics approach, this book explores the history of economic activity through the pre-colonial, colonial and post-colonial periods, including the transformative period of British rule. During the colonial period, Asians were brought in to build the railways and subsequently focused on urban-based activities. Africans, meanwhile, found it difficult to move out of agriculture. Thus, the ethnic-sectoral division of activities was entrenched by the formal laws and powers of the British. Following independence, the network and financial capital that Asians had built up allowed them to survive early attempts at the Africanization of industry. Africans, now supported by the formal institutions of the state, still found it difficult to engage in manufacturing because they lacked the informal networks that support trade and credit. The analysis is supported by the results of a contemporary survey of 120 manufacturing firms in Nairobi's metal sector that highlight the division between smaller African firms and larger Asian ones.
Rural development is inherently viewed as a positive thing; it is seen as something that brings together groups of individuals with automatic positive implications and outcomes. Policy rhetoric frequently uses popular terms such as involvement, participation and power sharing to describe rural development activities. However, the reality of experience on the ground does not necessarily concur with these ideals. It is not always clear who ultimately benefits from rural development: the State, the community or rural development practitioners. This book critically analyses key concepts associated with rural development policy and practice, and using the concepts of power and micro-politics to analyze rhetoric and reality, reveals the intricacies of rural development. Challenging popular ideals associated with rural development, this book presents the notion of rural development less as a spontaneous, all-inclusive affair and more as a limited, controlled and exclusive process. Ultimately it contends that within structures of rural governance, a regeneration power elite predominates development and regeneration activities.
This book increases our knowledge of innovation policy by combining quantitative and qualitative assessments of innovation systems, and by adopting a progressive outlook on the conditions for an innovative Europe of tomorrow. Based on the latest developments in innovation research, the authors aim to draw practical and workable conclusions for policymakers. The first part of the book discusses the use of indicators to inform policy- making, progressively shifting emphasis from traditional to less traditional measures and from the national to the regional dimension. The second part investigates the internal dynamics of policy-making and explores the conditions to improve the effectiveness of innovation policies in Europe. New developments and challenges for the future are identified throughout, including the crucial problem of how to align existing institutions with potential challenges. In this way the book clearly demonstrates how the quality of policy governance will become an increasingly important driver for innovation performance of knowledge societies in Europe. The book will have considerable appeal to innovation policymakers, and will also be of interest to academics and researchers working on innovation and knowledge systems.
This book explores the limits of the idea of 'neo-colonialism' - the idea that in the period immediately after independence Malaya/Malaysia enjoyed only a 'pseudo-independence', largely because of the entrenched and dominant position of British business interests allied to indigenous elites. The author argues that, although British business did indeed have a strong position in Malaysia in this period, Malaysian politicians and administrators were able to utilise British business, which was relatively weak vis-a-vis the Malaysian state, for their own ends, at the same time as indigenous businesses and foreign, non-British competitors were gathering strength. In addition, despite the commitment of both Conservative and Labour governments in the UK to preserving British influence worldwide through the Commonwealth relationship, British firms in Malaysia received only limited support from the British post-imperial state.
This book enlarges the understanding of decision-making on mega-projects and suggest recommendations for a more effective, efficient and democratic approach. Authors from different scientific disciplines address various aspects of the decision-making process, such as management characteristics and cost-benefit analysis, planning and innovation and competition and institutions. The subject matter is highly diverse, but certain questions remain at the forefront. For example, how do we deal with protracted preparation processes, how do we tackle risks and uncertainties, and how can we best divide the risks and responsibilities among the private and public players throughout the different phases of the project? Presenting a state-of-the-art overview, based on experiences and visions of authors from Europe and North America, this unique book will be of interest to practitioners of large-scale project management, politicians, public officials and private organisations involved in mega-project decision-making. It will also appeal to researchers, consultants and students dealing with substantial engineering projects, complex systems, project management and transport infrastructure.
Tourism and Sustainable Economic Development highlights the opportunities and risks of nature-based tourism for economic development and explores selected strategies for sustainability. The prospect of tourism growth is a potential source of major challenges and considerable threats on a number of levels. The concept of sustainable tourism development has thus become the focus of the debate on this subject. This invaluable book aims to provide useful analytical and empirical tools in support of the idea that sustainability is not just about regulating and controlling the negative impacts of tourism. It is also about policies and actions that aim to reinforce the benefits and reduce the costs of tourism, in order to make it more profitable now and in the future. The chapters focused on economic modelling offer a valuable overview of the main issues currently debated at the academic level. The book also illustrates a number of empirical instruments that will provide a useful reference for academics and policymakers interested in how to put theory into practice. This study will be of great value to economists, geographers and to those who have a direct or indirect interest in tourism economics.
This wide-ranging collection approaches innovation and development with a focus upon the developing world and includes a number of articles from eminent scholars in developing countries. With papers ranging from 1973, the book provides an authoritative account of how thinking has evolved in this area. It provides a firm theoretical foundation in innovation systems, processes, institutions and policies from the perspective of developing countries. The topics include capacity building, learning, industrial development, agricultural innovation and sustainable development. The collection will provide a valuable reference to new students, postgraduates and professional economists seeking to broaden and deepen their knowledge of development and innovation in the developing world.
Most of the studies conducted to examine the growth performance of many developing economies are based on the traditional neoclassical growth frameworks. This book takes an alternative path. It employs a blend of historical, neoclassical, Kaldorian, and endogenous growth frameworks to shed further light on the growth process. Whereas most cross-sectional growth analyses tend to focus only on the steady state, this volume is one of the relative few that attempt to trace the whole growth path. In doing so, it addresses a number of important factors and issues associated with economic growth, and aims to answer to one of the hardest and most fundamental questions - how do we get poor developing countries on the path to sustained growth? This innovative book accumulates the various, and often conflicting, growth theories, which enable a greater understanding of the growth processes in the developing world. It will be of interest to students of development studies, Asia studies and public policy, as well as research scholars and practitioners, including government officials and policymakers.
China has enjoyed heroic growth rates in the last twenty five years of reform and transition, pulling more people out of poverty more quickly than at any other time in human history. Nonetheless these successes have had costs: today China is faced with increasing environmental difficulties and there is a dangerous level of inequality of income and wealth leading to large numbers of often violent disputes and demonstrations in the countryside. This book discusses the very latest issues relating to China's remarkable economic growth. It provides comprehensive coverage of these issues, including economic, political-economic, environmental and philosophical questions, presenting material in as non-technical a way as possible. The issues discussed reflect key concerns within China itself at present. These focus not just on how to sustain fast rates of economic growth but also on how to solve the problems resulting from it, problems including widening levels of income equality, new forms of environmental degradation to include water shortages, health issues, governance dilemmas and new problems for the banking, strategic industrial and agricultural sectors. This book not only encompasses the current socio-economic situation in China, accepting its strengths while highlighting dilemmas, but also provides suggestions for policy. As such, it reflects a growing recognition in China that the attainment of both continued strong economic growth and a greater degree of social harmony are mutually interdependent: that one will not be achieved without the other.
This book examines rural poverty in Bangladesh. Based on detailed empirical research and surveys of households in Bangladesh, it provides an accurate portrait of the everyday situations faced by the rural poor in Bangladesh today, covering all aspects of household behaviour. All of the key issues are explored, including health, nutrition, housing conditions, human capital, household asset and liabilities, gender issues, livelihood strategies, distribution of household income and expenditure, social capital, intergenerational mobility of the chronically poor, women's mobility, shocks and coping strategies, and vulnerability to poverty. The book focuses in particular on the poorest of the poor households, the chronically poor, seen by many in the development community to be the core of the problem of poverty. It shows that the basic characteristics of the chronically poor households in rural Bangladesh are: more heavily female-headed households, higher dependency ratio of children in demographic composition, and dominated by lower levels of assets, shorter years of schooling and limited employment opportunity. Throughout, it draws precise conclusions on the basis of quantitative data, which makes this book an important resource for policy-makers and development practitioners, as well as students and researchers.
"The Transition Report 2008" offers an in-depth analysis of economic progress in 28 countries from central Europe to central Asia. It draws on the European Bank for Reconstruction and Development's experience as one of the largest investors in the transition region. The report provides a comprehensive analysis of the transition from centrally planned to market economies. This year's report looks closely at the emergence of global pressures on prices, the tensions created by this and how policy-makers can respond to them. "Transition Report 2008" offers a comprehensive study of economic progress, with a focus on growth and how this can be sustained. Issues covered include a review of the emergence of global pressure on prices and liquidity in recent years and as a consequence the creation of short-term uncertainties. This title reports on the tensions arising from the global strain on prices and how policy-makers should respond. It examines the longer-term challenges to sustaining economic growth. It presents an analysis that reveals how growth prospects are driven by fundamental factors such as human capital, market competition and physical infrastructure. It outlines the need for countries to diversify production and trade to sustain growth. It presents country-by-country assessments of the latest progress in structural reform and macroeconomic developments. Analysis is complemented by detailed economic data covering GDP, inflation, government expenditure and foreign direct investment.
This book examines the interrelations between entrepreneurship, industrial location and economic growth. Thus, it covers a wide range of topics, including: the economic impact of entrepreneurship; industry dynamics; growth and survival of firms; firm location and globalisation patterns; and agglomeration and growth. The chapters in the book demonstrate the need to adopt a broad perspective that combines insights from different strands of literature if we are to better understand these complex economic phenomena. In addition, the original empirical evidence from a range of different countries provides a sound foundation for developing appropriate guidance for policymakers. The contributions in this book will appeal to practitioners and policymakers interested in entrepreneurship, industrial location and industry dynamics. It will also be of interest to economic geographers, environmental scientists and local planners.
Since the reform and opening up in 1978, the Chinese economy has grown rapidly. China has become the focus of the world due to its astonishing achievements in every aspect of its economical growth. The country's transformation process has witnessed unprecedented social and economic phenomena and the existing economic theories have not been able to explain this rapid growth. Therefore, there is a need to establish new theories. This book fills the gap by bringing forth new ideas and economic theories.The author, who is one of China's most prestigious economists, has a profound understanding of the country's social, economic and political structures. The book is a collection of his most representative works in the recent years. The chapters not only investigate problems and challenges faced by the Chinese economy, but also shed new light on the solutions and opportunities.
Political Institutions and Development challenges the cliche that `good institutions' are essential for sustainable socio-economic development by focusing on the need to adapt potential solutions to local conditions. The authors argue that there is no one optimal institutional design that can be successfully applied to any country. The macro- and micro-level studies contained in this book demonstrate that institutions are highly context-dependent and time-sensitive and must be tailored to local conditions. Specifically, law and order, effective governance, ethnic sensitivity, a supporting political culture, civil rights, and individual opportunities to participate in decision-making are also necessary. With its global perspective, this book explores the relationship between political institutions and development from such diverse regions as the Commonwealth of Independent States, East and South Asia, and Latin America. This book will appeal to scholars and researchers in political science, economics, political economy, development studies and globalization. It will also find a wider audience amongst policymakers, development agencies and policy communities throughout the world.
This book provides a compilation of policy, institutional and governance recommendations from eighteen leading international experts, in response to the Millennium Ecosystem Assessment (MEA) finding that over the last 50 years humans have degraded ecosystems services at a faster rate and on a larger scale than at any time in human history. The MEA provided the most comprehensive examination ever undertaken of the conditions and trends of ecosystems. By design, the MEA stopped short of prescribing policy recommendations. With this in mind, the international contributors have been drawn from diverse backgrounds to review the MEA findings and define a global action agenda for governments, businesses, international organizations, civil society, and research organizations.The book encompasses recommendations at the local, national and global scales. Policies for Sustainable Governance of Global Ecosystem Services proposes an action agenda for integrating ecosystem considerations into development decisions. It focuses on ecosystem services as the benefits people receive from nature. It seeks to change the focus from how to protect ecosystems from development to how to invest in ecosystems for development. It represents earliest thinking on a global action agenda for reversing ecosystem degradation and promoting more robust development. This book is aimed at professionals, academics and researchers working in the environmental and development fields including advanced undergraduates and graduates of environmental, ecosystem and development studies. It will also be of great value to civil society organizations and environmental research organizations as well as policymakers themselves and the interested lay reader.
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