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This book includes papers presented at the 14th International Conference “Economies of the Balkan and Eastern European Countries” (EBEEC), held in Florence, Italy, in May 2022. It sheds new light on the micro- and macroeconomic developments in the Eastern European and Balkan countries, taking into account also the broader regional and global factors influencing these developments. In particular, it includes the latest theoretical and empirical research and policy insights from Central and Southeastern Europe and presents new ideas on how to resolve economic problems, also generated by the pandemic, in the Balkan and Eastern European economies in a pan-European context. By examining how the decisions and the performance of economic, social, and political actors in the area are intertwined with wider events, also at a global level, the papers highlight the dynamic development in Eastern Europe and the Balkans region. Further, the book demonstrates how the area is evolving within the framework of European economic integration and the global effervescent economy.

This book is an innovative exercise to unravel recent advances in development fundamentals in emerging economies through Indian lens that include various aspects of macroeconomics, international trade, finance, and issues connected to social sector that have become more important in post-pandemic world. The book throws light on efficacy of existing policies and need of reform in policy framework to enhance growth and development and reduce gender disparities in the context of India and other emerging economies. The papers included in different chapters use frontline techniques to discuss various issues that in turn will be of great help for graduate and postgraduate teaching as well as for research. The book substantially contributes to the growing literature on issues relating trade, development, finance, and social sector in light of threat posed by COVID-19 pandemic in emerging market economies and extends the frontiers of knowledge.

This proceedings book presents selected papers from the 10th international conference on the'Economies of the Balkan and Eastern European Countries in the Changing World'(EBEEC), held in Warsaw, Poland, in May 2018. In addition to discussing the latest research, it includes papers adopting a wide variety of theoretical approaches and empirical methodologies and covering a number of key areas, such as international economics, economic growth, finance and banking, insurance, healthcare, agriculture, labor and energy markets, innovation, management and marketing. In addition, the authors discuss policy instruments and best practices for the region. This book appeals to scholars and students in fields of economics and finance as well as practitioners interested in the development of the region.

The papers in this proceedings volume were presented at the 9th international conference “The Economies of the Balkan and Eastern European Countries in the Changing World” (EBEEC) held in Athens, Greece, in April 2017. They include the scientific results of research on current issues relevant for the wider area of Eastern Europe. Authors from 30 different countries develop new ideas, covering topics such as international economies, European integration, the economic crisis, macroeconomics, banking, stock markets, education, energy, innovation, and marketing. The contributions also examine the role of the economies of the Balkan and Eastern European countries in a pan-European context.

This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.

Globalization, Growth and Sustainability focuses on the implications of both regional and global trade liberalization and complementary macroeconomics policy reforms on growth, equity, and sustainability. The volume is organized into three sections: Part One addresses the issue of economic growth with a special reference to less developed economies; Part Two examines the pros and cons of the regional economic integration movement for the countries either participating in, or outside of, the regional groups; Part Three focuses on the issues of equity and sustainability. Globalization, Growth and Sustainability will provide valuable insights and important background analysis for scholars working in the field of globalization, as well as senior undergraduate and graduate students in a variety of curricula, including economics, development studies, and international studies.

This collection of essays presents insight and methodology that are highly relevant for readers today as they consider the future of the world they live in. Experiencing the COVID-19 pandemic, people have realized how fragile the current economy is and the necessity for reconstructing the socio-economic system. That system, which was considered the default for so long, was succeeded by the analytical framework of economics and regional science. The contents of this book are diversified, as are the achievements of Prof. Yasuhiro Sakai, to whom this volume is dedicated, and cover a wide area from mathematical and experimental economics to conventional and emerging fields of regional science. Some are timeless topics that have had new life breathed into them. Part I deals with, among other areas, risk management with uncertain events; the effectiveness and impacts of regulation and friction related to trading; the stability of strategic behavior and market equilibrium; and sustainable regional development and urban planning from the long-term perspective. Part II also presents a diversity of subjects, including input–output analysis and computable general equilibrium (CGE) modelling for internal as well as external structure and network linkage, such as a value chain; openness and creativity as related to competition among cities and regions; dispersion versus concentration; and inequality versus equality.

This textbook introduces readers to essential tools, techniques and methods for intertemporal and strategic modeling in economics. It presents a variety of analytical models covering both dynamic processes and strategic interaction. Students will learn the basic mechanisms associated with the intertemporal approach, on the one hand, and game theory, i.e., the strategic approach, on the other. In addition, a wide range of applications are explored, including growth models, labor markets, international trade, and individual decision-making. Intended for upper undergraduate and graduate students in economics and related fields with a background in mathematics and calculus, this textbook provides a comprehensive introduction to economic modeling and its applications. By avoiding excessive formalism and exploring straightforward examples and applications, it is optimally suited for graduate courses in economics and finance.

Dilip K. Das succintly covers the principal normative and positive strands that one needs to be properly familiar with in the area of economic globalization. The selection and rejection of themes for coverage in the book has been carefully done. The picture of globalization has been painted with a broad brush. The unique feature that distinguishes it from the competition is its succinct coverage of numerous, carefully selected, thematic issues that falls under the rubric of globalization. The book is easy to access for the target readership because of its descriptive analysis style.

This book explores Jamaica's contemporary relationship with the International Monetary Fund since 2010. It looks at Jamaica's high debt and its inability to access financial support amidst international capital market restrictions, contextualizing harsh socio-economic realities. This book discusses Jamaica's second return to the IMF and the resulting network of actors, governance and political and socio-economic efforts to re-engender a relationship with a “new'IMF. Credibility was restored, demonstrated by and leading to the successful implementation of the 2013 Extended Fund Facility and subsequent exit to a Precautionary Stand-By Arrangement in 2016. Clarke and Nelson signal from their analyses lessons learned, discussing the economic prognosis for Jamaica as well as their relationship with the IMF under the shadow of the COVID pandemic.

Testing for economic convergence across countries has been a central issue in the literature of economic growth and development. This book introduces a modern framework to study the cross-country convergence dynamics in labor productivity and its proximate sources: capital accumulation and aggregate efficiency. In particular, recent convergence dynamics of developed as well as developing countries are evaluated through the lens of a non-linear dynamic factor model and a clustering algorithm for panel data. This framework allows us to examine key economic phenomena such as technological heterogeneity and multiple equilibria. In this context, the book provides a succinct review of the recent club convergence literature, a comparative view of developed and developing countries, and a tutorial on how to implement the club convergence framework in the statistical software Stata.

This volume represents a cornucopia of research studies coming out of an international conference held in Kigali, Rwanda in 2018. The essays comprise contributions on various microeconomic and macroeconomic policy angles that are crucial for a less developed economy to embark on a road to recovery to converge with the desired trajectory. The topics encompass a broad range of issues like the role of savings, capital formation, human capital, innovations, entrepreneurship, profit-shifting by multinational corporations, small and medium enterprises (SMEs), and firms'strategies for achieving sustained and balanced growth. The chapters are organized under three major themes based on the commonality of areas that they cover: (i) Macroeconomic Constraints: Monetary Policy, Investments, and Population; (ii) Firms'Performance, SMEs, and Role of Entrepreneurship; and (iii) Entrepreneurship and Business Performance: Strategies and Policies. It has a collection of 12 empirical studies that havean overall focus on macroeconomic policies such as savings among the rural poor; sustained investments in and development of capital markets; role of entrepreneurial sustainability; role of innovations for firms'performance; healthcare reforms; the benefits of technology, policy incentives such as tax benefits for promoting growth, and strategic considerations such as marketing or positioning strategies; export strategies; and productivity enhancement via processing and profit sharing. With contributions from 27 authors, the studies bring forth knowledge about the factors that influence well-being via better technologies and innovations favoring productivity, firm performance, and their positive externalities in the food, nutrition, and health sectors. Given the wide-ranging coverage of top-down and bottom-up approaches and strategies for development, the book offers insights for policy interventions necessary for Rwanda's gradual transition from agriculture to an industrial transformation via manufacturing and service-led development without smokestack industries.

This book assesses the current state of the Greek economy and detects its development and growth prospects up to 2030. The analysis begins with 19th century Greece, addressing the repeated defaults that led to the formation of a dependent state, and the failed modernizing attempts. Then the book addresses current geostrategic dimensions as well as the current structure of institutions and culture in Greece. The second part presents the evolution of sustainability, governance, and inclusivity, as well as the evolution of culture in Greek society and insights into the production prototype. The third part of the book looks forward to what lays ahead for Greece up to 2030. It presents the theoretical background for two scenarios: the normal scenario (business as usual, including the effects of the recent Covid-19 pandemic) and the optimal scenario (a pro-growth scenario including increases of Total Factor Productivity through structural reforms). In presenting these scenarios, the book discusses issues ranging from a comparative analysis between Greece and the Eurozone, the developments in output gap and potential output, public debt, competitiveness, basic macroeconomic variables, a detailed analysis on investments, and inclusive growth.

A response to the pressing need to address and clarify the substantial ambiguity within current literature, this edited volume aims to deepen readers'understanding of the impact of foreign aid on development outcomes based on the latest findings in research over the past decade. Foreign aid has long been seen as one of two extremes: either beneficial or damaging, a blessing or a curse. Consequently, many readers perceive aid's effectiveness based on the work of scholars who are assessing the impact of aid from one of two antithetical perspectives. This book takes a different approach, shedding light on recent research that can deepen our understanding of the complex relationship between aid and its aftereffects. Drawing from an extensive set of studies that have explored micro and macro impacts of foreign aid for recipient nations, chapter authors highlight more layered and nuanced findings, with a focus on donor characteristics, political motives, and an evaluation of aid projects and their effectiveness, including the differential impact based on type of aid. This volume is the first of its kind to unpack aid as a complex rather than a unitary concept and explore the wide areas of grey that have long enshrouded foreign aid.

Brazil is the most populous economy in Latin America with the second highest GDP among the emerging BRIC economies, after China, and the second per capita GDP among the BRIC economies after Russia. The objective of this book is to provide a thorough historical, statistical, and institutional description of the factors that affect and are affected by Brazil's international trade and integration with the world economy. It includes a most recent account of what is presently going on in Brazil and the type of economy from which Brazil is emerging. The authors use Brazil as a case study and explain both the process and the outcome of international economic integration by analyzing in each chapter a different contributing factor to the benefits and costs from Brazil's economic interdependency with the world economy. This makes the reading of this book extremely valuable. The topics addressed in this book will increase the reader's awareness of the institutional, economic, and culturalforces that shape the dynamism of Brazil's international trade and integration with the world economy, and will continue to do so in future years.

This book offers insights into the behaviour of the Portuguese economy in relation to economic growth from the twentieth century to the present. How did the 1891-92 crisis and World Wars impact Portugal economically? How did the Portuguese economy behave during the'Golden Age'of economic growth in postwar Europe? What have the effects of the European Monetary Union been? Amaral examines long-running trends in the development of the modern Portuguese economy in order to help us understand various growth phases of the modern period. This title is important reading for economic historians and economists researching economic growth, crises, stablisation and monetary unions.

The Eurasian Economic Union (EAEU), which includes Russia, Kazakhstan, Belarus, Kyrgyzstan, and Armenia, is a new but substantial regional organization. Significant achievements include a common external customs tariff, a customs union and a common labour market: a well-developed institutional environment has emerged to support and advance these processes, ranging from the Eurasian Economic Commission and the EAEU Court to the Eurasian Development Bank and the Eurasian Fund for Stabilization and Development. This major integration achievement also has several drawbacks and ‘stumbling stones'—some due to Russia's dominant position, some due to the authoritarian nature of political regimes, and some due to dependence on oil and gas exports. This book presents a detailed qualitative and quantitative assessment of the Eurasian Economic Union, including the history of Eurasian integration, the macroeconomy of EAEU member states, an assessment of trade and investment links, a descriptive analysis of the EAEU Treaty, an analysis of Eurasian institutions, the sociology of integration, the EAEU's emerging foreign economic policy, relations with the EU and China, the EAEU's position on One Belt One Road policies, and its mid-term policy agenda. This primer text will be of interest and value for students, academics and practitioners working in economic policy and business communities and interested in the history and development of the Eurasian Economic Union.

The object of this volume is to evaluate the pattern and the function of foreign capital in developing countries in a long-run perspective. The main conceptual instruments employed are the theory of economic growth, and the techniques associated with recent advances in growth econometrics. This empirical work points out that there is no mechanical trade-off between the short-term dangers and the long-run gains from capital market integration, but the growth benefits of foreign capital in transforming economies are conditional on an effective destination of the resources. Over-borrowing and excessive consumption are the main pitfalls in the short- as in the long-run. Nevertheless, foreign capital can be conducive to faster growth and possibly higher welfare.

Just as contemporary economics failed to predict the 2008-09 crash, and over-estimated the subsequent brief recovery that followed, economists today are again failing to accurately forecast the slowing global economic growth, the growing fragility, and therefore rising instability in the global economy. This book offers a new approach to explaining why mainstream economic analyses have repeatedly failed and why fiscal and monetary policies have been incapable of producing a sustained recovery. Expanding upon the early contributions of Keynes, Minsky and others, it offers an alternative explanation why the global economy is slowing long term and becoming more unstable, why policies to date have largely failed, and why the next crisis may therefore prove even worse than that of 2008- 09. Systemic fragility is rooted in 9 key empirical trends: slowing real investment; a drift toward deflation; money, credit and liquidity explosion; rising levels of global debt; a shift to speculative financial investing; the restructuring of financial markets to reward capital incomes; the restricting of labor markets to lower wage incomes; the failure of Central Bank monetary policies; and the ineffectiveness of fiscal policies. It results from financial, consumer, and government balance sheet fragilities exacerbating each other -- creating a massive centripetal force disaggregating and tearing apart the whole, untameable by either fiscal or monetary means. This book clarifies how the price system in general, and financial asset prices in particular, transform into fundamentally destabilizing forces under conditions of systemic fragility. It explains why the global system has in recent decades become dependent upon, and even addicted to, massive liquidity injections, and how fiscal policies have been counterproductive, exacerbating fragility and instability. Policymakers’ failure to come to grips with how fundamental changes in the structure of the 21st century global capitalist economy—in particular in financial and labor market structures—make the global economy more systemically fragile can only propel it toward deeper instability and crises.

Pereira and Mattei bring contributors together in this exciting volume to further understanding about the recent Brazilian Economic Development Model and discuss the related social conditions. The authors analyze both the political economy and social public policies to highlight new opportunities to create a sustainable development model.

Conscious that trust deficit is a principal concern in East Asia, the book attempts to suggest ways to enhance confidence in certain key areas such as disputes in East and South China Seas, maritime CBMs, impact of economic interdependence on security, and issues concerning identity and values in Asian thinking.

This book illustrates the decline of the state-encouraged revival and legitimization of private enterprises in 1980s China. Chen argues that the rapid growth of private enterprises strengthened the fiscal power of the state, leading the Chinese government to take an increasingly interventionist stance.

The global demographic transition presents marked asymmetries as poor, emerging, and advanced countries are undergoing different stages of transition. Emerging countries are demographically younger than advanced economies. This youth is favorable to growth and generates a demographic dividend. However, the future of emerging economies will bring a decline in the working-age share and a rise in the older population, as is the case in today's developed world. Hence, developing countries must get rich before getting old, while advanced economies must try not to become poorer as they age. Asymmetric Demography and the Global Economy contributes to our understanding of why this demographic transition matters to the domestic macroeconomics and global capital movements affect the asset accumulation, growth potential, current account, and the economy's international investment position. This collaborative collection approaches these questions from the perspective of'systemically important'emerging countries i.e., members of the G20 but considers both the national and the global sides of the problem.

The book's 30 chapters are divided into three sections – international trade, economic development, macroeconomics and finance – and focus on the frontier issues in each.Section I addresses analytical issues relating to trade-environment linkage, capital accumulation for pollution abatement, possibility of technology diffusion by multinational corporations, nature of innovation inducing tariff protection, effects of import restriction and child labour, the links between exchange rate, direction of trade and financial crisis—the implications for India and global economic crisis, financial institutions and global capital flows and balance of payments imbalances.Section II consists of discussions on the causes of widespread poverty persisting in South Asia, development dividend associated with peace in South Asia, issues of well-being and human development, implications for endogenous growth through human capital accumulation on environmental quality and taxation,the rationale for a labour supply schedule for the poor, switching as an investment strategy, the role of government and strategic interaction in the presence of information asymmetry, government's role in controlling food inflation, inter-state variations in levels and growth of industry in India, structural breaks in India's service sector development, and the phenomenon of wasted votes in India's parliamentary elections.Section III deals with the effectiveness of monetary policy in tackling economic crisis, the effective demand model of corporate leverages and recession, the empirical link between stock market development and economic growth in cross-country experience in Asia, an empirical verification of the Mckinnon-Shaw hypothesis for financial development in India, the dynamics of the behaviour of the Indian stock market, efficiency of non-life insurance companies, econometric study of the causal linkage between FDI and current account balance in India and the implications of contagious crises for the Indian economy.

Poland is one of Europe's economic out-performers. The country's history and geography encourage it to be in favour of deeper European integration. This book aims to contribute to discussions on the future shape of EMU and the next steps ahead.

The fourth edition of The Process of Economic Development offers a thorough and up-to-date treatment of development economics. This landmark text will continue to be an invaluable resource for students, teachers and researchers in the fields of development economics and development studies. The new edition has been revised and updated throughout, reflecting the most recent developments in research and incorporating the latest empirical data, as well as key theoretical advances. The period since the publication of the third edition of The Process of Economic Development has been a time of immense change in the developing world. The period has seen huge economic growth in China, economic restructuring in India and the continuing impact of environmental issues such as climate change. The fourth edition reflects these developments, as well as including numerous case studies and new material on the following: transnational corporations and labor in export processing zones industrial policy and structural change gender inequality, income distribution and development progress towards the Millennium Development Goals technology and national innovation systems aid and the least developed nations the post debt crisis era and debt relief for Africa. Cypher's comprehensive account remains the development economics text par excellence, as it takes a much more practical, hands-on view of the issues facing developing countries than other, overly mathematical texts. This book is unique in its scope and in the detailed attention it gives to the historical contexts that have influenced progress toward development. It is accessibly written both for students of economics and for those with an interest in the many aspects of development studies.

Determinants of economic growth: An overview Thijs de Ruyter van Steveninck, Nico van der Windt, and Maaike Oosterbaan Netherlands Economic Institute What causes economic growth? Why have some countries grown much faster than others? Why do some countries not grow at all, or even experience negative (per capita) growth rates? What can governments do to raise the growth rates of their country? These questions were discussed at a conference on March 23 and 24, 1998, organized by the Netherlands Economic Institute (NEI) on behalf of the Netherlands Ministry of Foreign Affairs. This book contains the proceedings of the conference. Economic growth is widely considered as a necessary (though not sufficient) condition for poverty alleviation. During the past two decades, scholars and researchers have found a renewed interest in thinking about economic growth, and advances in the understanding of economic growth have taken place. On the one hand, the theoretical understanding of growth has progressed on various fronts, including endogenous technological innovation and increasing returns to scale; the interaction of population, fertility, human capital, and growth; international spill-overs in technology and capital accumulation; and the role of institutions. On the other hand, the increasing availability and use of data sets has given a large incentive to empirical research on cross-country growth, following the path-breaking work ofBarro (1991).

Experiences with Financial Liberalization provides a broad spectrum of policy experiences relating to financial liberalization around the globe since the 1960s. There is a sizable body of theoretical and aggregative empirical literature in this area, but there is little work documenting and analyzing the experiences of individual countries and/or sets of countries. This book is divided into four parts by geographical region - Africa, Asia and Latin America, Central and Eastern Europe, and the Middle East. Aggregative econometric studies cannot substitute for country-wide studies in allowing the researcher to draw lessons for the future, and this volume adds to this relatively small body of literature.

This collection of essays from eminent scholars discusses different phases and measures of economic development, evaluating the success of national economic transitions and providing valuable policy lessons for developing economies.

Bringing the eastern European economies in transition (defined more precisely in the Introduction) under the economic, political, and secu­ rity umbrella of the European Union (ED) has been an ambition of many of these countries from the very start of the so-called annus mirabilis in 1989. The road to gratification of this aspiration since then has been rather bumpy, however one wants to look at recent events. Indeed, since 1989 the relationship between the EU and the economies in transition has been ebbing and flowing with the evolution of two main strands of policy stances in the EU. One has been deep skepticism about bringing these countries into the Union at all in any foreseeable future. This in spite of the fact that, after long hesitation, in mid 1993 the EU Member States committed themselves eventually to explore accession with selected transition economies, as well as Cyprus and Malta. The other has been their evolving attitude toward their own integration endeavors. Hence the dilemmas, in the EU's parlance, of the'deepening versus widening'conundrum. That indeed constitutes the paramount issue addressed in the present investigation.

Dynamics of Globalization and Development debates the role of structural adjustment programs and policies, the implication of financial liberalization for growth and stability, the effects of foreign direct investment and the associated behavior of multinationals in terms of intellectual property rights, the diffusion of technology, growth and development. Many contributors offer innovative insights into the complexities of the process in terms of its micro foundations, and propose efficiency-based multinational policy frameworks. A general thrust of most of the studies in this volume is that the market-driven process of globalization alone will not lead to stable and equitable economic growth Consequently, several contributors recommend a set of proactive policies to promote greater stability in the system and a more equitable distribution of the benefits of globalization. This anthology will provide valuable insights and important background analysis for scholars working in the field of globalization as well as senior undergraduate and graduate students in a variety of curricula, including economics, finance, development studies, and international studies.

This book seeks to clarify the positive and negative lessons in the experiences of late development under neoliberal globalization. Dic Lo explores competing theories, with a view to constructing an alternative synthesis that transcends neoliberalism, placing greater emphasis on solidarity and humanistic development.

Capital Markets, Globalization, and Economic Development consists of fourteen articles contributed by authors from Australia, Asia, Europe, South America, and the United States who provide a wide range of insights. The contributors include academics, government officials, and regulators. This book examines some of the capital market issues that economies face as they mature. These include, but are not limited to, credit ratings, financial regulation, infrastructure privatization and other timely topics.

Managing the World Economy, while recognizing how much has been achieved since the start of the Industrial Revolution, challenges the view that much better results could have been attained. It argues that faster economic growth and much better use of the available human talent could have been in the past, and should be in the future, achievable targets. The reasons for the performance of the world economy over the last two hundred years being well below the achievable optimum stem mainly from misconceptions about macroeconomic policy, which the book sets out to explain and correct.

An der Schwelle zum neuen Jahrhundert steht die Wirtschaftspolitik vor großen Herausforderungen. Vor dem Hintergrund der Globalisierung, des Wandels zur Dienstleistungsgesellschaft, der Veränderung von demographischen Strukturen und des Übergangs der planwirtschaftlich organisierten Wirtschaftssysteme in marktwirtschaftlich orientierte gilt es, in den Industrie-, Transformations- und Entwicklungsländern zukunftsweisende wirtschaftspolitische Weichenstellungen vorzunehmen. Zu den drängendsten ökonomischen Problemen der westlichen Industrieländer zählen die Arbeitslosigkeit, eine sich vergrößernde Einkommensungleichheit sowie die Alterung der Bevölkerung. In vielen Entwicklungsländern dominiert die Sorge, daß angesichts von Globalisierung und Wissensintensivierung der Produktionsprozesse aufholende Entwicklung erschwert wird. Während die ost- und mitteleuropäischen Transformationsländer auf dem Weg in die EU sind, bereitet der Transformationsprozeß in den übrigen Ländern des ehemaligen Ostblocks erhebliches Kopfzerbrechen; insbesondere Rußland scheint vor beinahe unlösbaren wirtschaftlichen und politischen Problemen zu stehen. Finanz- und Währungskrisen werfen Schatten auf die wirtschaftliche Entwicklung in anderen Regionen der Welt. Die Beiträge zu dieser Festschrift befassen sich eingehend mit diesen Problemen. Sie spiegeln das Wirken und die Arbeiten von Lutz Hoffmann wider, der sich als Wissenschaftler und Berater seit mehr als 40 Jahren mit wirtschaftspolitischen Fragen befaßt. Sein Denken war dabei immer von Skepsis gegenüber einfachen, modellhaften Lösungen geprägt. Lutz Hoffmann ist ein Ökonom, der mit Theorien pragmatisch umzugehen weiß und Schubladendenken ablehnt. Er hat sich von keiner der vielen Schulen der Volkswirtschaftslehre vereinnahmen lassen und einen unabhängigen, kritischen Geist bewahrt. Die Auswahl der Beiträge sowie die Autoren, die von inländischen und ausländischen Universitäten, internationalen Organisationen und nationalen Forschungsinstituten kommen, reflektieren diesen wissenschaftlichen Pluralismus.

The fifth edition of The Process of Economic Development offers a thorough and up-to-date treatment of development economics. It has been extensively revised throughout, reflecting the most recent developments in research and incorporating the latest empirical data, as well as key theoretical advances and many new topics. The world has seen vast economic growth in China, economic transformation in India, new challenges in Latin America, rapid economic progress in Southeast Asia, and the deepening impact of environmental issues such as climate change. This new edition addresses all these critical issues as well as the pivotal role of the state, where China's capacity is contrasted with that of African states.Transnational corporations'reliance on low-wage manufacturing and labor arbitrage is featured in the book. Agricultural policy—extensively explored—remains crucial, as does the promotion of industrialization. This fifth edition offers a ‘state-of-the-art'analysis of these essential themes and many others. Numerous case studies and issue focuses have been integrated with sundry central topics. Neoclassical theories and applications, including a timely exploration of behavioral economics, are both rigorously and accessibly explicated.Cypher's comprehensive account remains the development economics text par excellence, as it takes a much more practical, hands-on view of the issues facing the developing countries than other, overly mathematical texts. This book is unique in its scope and in the detailed attention it gives to a vast range of ideas, including pioneering developmentalist and heterodox formulations. Distinct institutional structures are examined within their historical contexts.This landmark text will continue to be an invaluable resource for students, teachers, and researchers in the fields of development economics and development studies.

Growth patterns have changed radically over the last two decades, to which capital and the labour markets appear to have failed to adapt. Unemployment in Europe has been growing, almost without remission, to levels unseen since the Great Depression. These facts are somewhat at odds with the development of growth theory which has mainly been orientated towards an equilibrium full employment framework. The main message of equilibrium theory of fluctuations was precisely that the policy maker is impotent. Now, with the universal acceptance of endogenous growth theory, the common concensus proposition would be `we are all neo-classical for the short run and Keynesian for the long run'(investment being too important for growth to be left entirely in private hands).

The politics of international debt have received increasing attention in recent years. However, discussion of the politics of money has focused on Latin American and'third'world countries. So far there has been little treatment of the politics of scarce money and of money as a political category in relation to'advanced'countries. The central theme of the book is the limitations and constraints on state action which arise from the relation between the (nation) state and the global flow of money.