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This book takes a comprehensive look at the governance and civil society of Macao, the shadowy mecca of gambling in Asia, and the reforms, changes, and social movements which are challenging that reputation today. Thanks to the rapid expansion of the local casino industry, Macao has experienced spectacular economic growth since it returned to Chinese rule in 1999. Following double-digit rates of economic growth between 2002 and 2013, Macao has become one of the wealthiest regions in Asia, with GDP per capita rising from USD$14,258 in 2001 to USD$89,333 in 2014. However, as the casino industry has overshadowed all other sectors of the local economy, it has not only made Macao's economy highly vulnerable and difficult to sustain, but has also aroused increasing social discontent. The authors lay out a comprehensive and well-argued discussion of the dilemma of the economic monoculture, and strategies by which to overcome it, in the process producing a book that will be of profoundinterest to scholars of greater China, students of political economy, and travelers to Macao.

This open access book introduces the human development model to define disability and map its links with health and wellbeing, based on Sen's capability approach. The author uses panel survey data with internationally comparable questions on disability for Ethiopia, Malawi, Tanzania and Uganda. It presents evidence on the prevalence of disability and its strong and consistent association with multidimensional poverty, mortality, economic insecurity and deprivations in education, morbidity and employment. It shows that disability needs to be considered from multiple angles including aging, gender, health and poverty. Ultimately, this study makes a call for inclusion and prevention interventions as solutions to the deprivations associated with impairments and health conditions.

This book is open access under a CC BY 4.0 license.The authors of this book advise the economies of the European Union to become more entrepreneurial in promoting innovation and economic growth. The authors propose a reform strategy with respect to several aspects to achieve this goal. Starting with the rule of law and the protection of property rights; the tax system; the authors deal with regulations governing savings, capital and finance, and the organization of labor markets and social insurance systems. Framework strategies related to the regulations governing goods and service markets, bankruptcy and insolvency are also put forward. A core understanding and future path is also provided towards R&D, commercialization and knowledge spillovers; human capital investments; and informal institutions.

Africa suffers from two main diseases: poor management and a lack of vibrant entrepreneurial activity. The continent has the raw materials, the people, and the potential to be developed, and yet there remain barriers that prevent it from bettering itself. To promote entrepreneurship as an engine of economic development and growth, the author has developed a Quintuple Helix Model which advocates mutual cooperation and information sharing among the five helices and provides valuable guidelines to policymakers on how to build entrepreneurship ecosystems in sub-Saharan Africa. It goes on to examine the roles that government, donors, and public and private sectors play and how Africans themselves might take the development of entrepreneurial societies into their own hands. The book includes seven chapters that emphasize the key role that each of the five components could play in the development of entrepreneurial ecosystems. Entrepreneurship scholars, policy makers, and national and local governments of sub-Saharan Africa will value this insight as they strive to create a more favorable landscape for their citizenry.

This book analyzes the evolution of foreign trade cooperation between Russia and China in the context of the rapidly growing global economy, especially in the Asian-Pacific region. The approach presented in the book is characterized by a comprehensive view on macroeconomic dynamics and the process of evolving means of production. The authors describe characteristics of national innovational economies with examples from countries in the Asian-Pacific region.

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.

Structural Revolution in International Business Architecture Volume 2 fills important gaps in the existing literature of management science by providing new and improved methods of optimal control system modeling. These research methods are applied in a variety of problems of management science and national economic management. Applications are on oil field development, energy system modeling, resource modeling, time varying control of dynamic system of national economy, and investment planning.

Global free trade is one of the most controversial phenomena of our time. Richard Münch offers a new theory of global labour division to explain deeper transformations in the production and distribution of wealth brought about by global free trade. He then carries out and analyzes empirical investigations based on this theory.

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.

The information and communication technology revolution offers the promise of transforming economies and societies, and the risks of missing on a powerful techno-economic revolution and wasting scarce resources without much developmental impact. Some countries have mastered the process of digital transformation, and continue to realize substantial economic benefits. Others made substantial investments in the ICT infrastructure, with marginal impact. What makes for these differences among countries? Nagy Hanna presents a systematic approach to integrate ICT into development policies and programs across sectors of economy and society. This book bridges the current disconnect between the ICT specialists and their development counterparts in various sectors so as to harness the ongoing ICT revolution to maximize development impact and minimize downside risks. Posing a holistic and strategic framework that draws on lessons learned across all sectors to guide national leaders and development practitioners interested in moving from vision to action, it is an important work for researchers and students of ICT who aim to pursue innovative, inclusive and sustainable development paradigms.

Much has been written about the speed and complexity of the transition throughout Central and Eastern Europe and former parts of the Soviet Union. The focus has invariably been on the macro scale and often from the perspective of a single discipline. This book differs from others by concentrating on the micro level of change and doing so from a wide range of disciplinary perspectives, recognising that transformation processes are multiplex and require the linkages between the social, political, psychological, cultural and economic dimensions to be fully exposed and addressed.

In this book, Dr. Jun Zhang rebuts the widely-held view that Chinese economic growth is unsustainable due to low consumption and a reliance on exports and enormous fixed-asset investments. Though many believe this “structural imbalance” of the Chinese economy will become a serious problem in the long run, Zhang holds a bullish long-term outlook owing to China's long-term economic development. For Zhang, China's structural problems are greatly exaggerated and certain structures, such as regional governing entities, ensure that China will not face the same economic issues that Japan encountered. Through regional competition, regional governments will persevere; Zhang predicts that China will overtake the US as a superpower. Zhang concludes by acknowledging the real dangers facing China's economy, and offering advice on the reforms needed to ensure continued growth.

This book explores the reliability of official statistical data in the ASEAN (the Association of Southeast Asian Nations), and the benefits of a better vocabulary to discuss the quality of publicly available data to address the needs of all users. It introduces a rigorous method to disaggregate and rate data quality into principal factors containing a total of ten dimensions, which serves as the basis for a discussion on the opportunities and challenges for data quality, capacity building programs and data policy in Southeast Asia. Tools to standardize and monitor statistical capacity and data quality are presented, as well as methods and data sources to analyse data quality. The book analyses data quality in Indonesia, Malaysia, Singapore, the Philippines, Thailand, Vietnam, Brunei, Laos, Cambodia, and Myanmar, before concluding with thoughts on Open Data and the ASEAN Economic Community (AEC).

The book gives a thorough analysis of South-South trade in a theoretical and political framework. The development of South-South trade in manufactured goods since the 1960s is treated in detail. Problems and potentials of South-South trade in a development context are highlighted through a number of case-studies: the South-South export of manufactured goods from Togo, Nicaragua and Malaysia, Zimbabwe's export of manufactures to Zambia, and India's export of capital goods to Tanzania. This leads to an assessment of the possible future role of South-South trade in furthering Third-World development.

This book examines the interface between transnational private governance and domestic politics in South America. It explores the social and political factors that condition how ‘global'private norms, discourses, and initiatives dealing with sustainability and CSR regulation are engaged with, hybridized, and challenged by local actors in Argentina and Brazil. Inverting the conventional approach to global governance studies, it unpacks the complex forms in which domestic political-cultural elements embed global norms and discourses with meaning and mobilizing power, conditioning their appeal to potential participants and supporters. In doing so, the author illuminates the ‘receiving side'of private regulation and governance, developing a nuanced understanding of transnational norm diffusion wherein political and ideational factors in the global South are granted primacy over global structures, processes, and agents.

The aim of this book is to analyze Japan's high-growth economy, in particular to clarify the kinds of changes in people's lives that were generated by high growth. The present volume focuses not on the macro-economic mechanisms that expanded the scale of the economy, but on the micro-economic changes that were effected in everyday life. The emergence of a mass consumption society as a result of economic growth suggests that people's lifestyles and consumer behavior changed in various ways. The first chapter focuses on the apparel industry's expanding market as it corresponded to changes in consumer behavior. Even as consumer life became more comfortable and abundant, consumers were becoming uneasy about the environmental deterioration associated with high growth. The second chapter examines how the Japanese government addressed emissions regulations while drawing on the lessons of America's experience with the same issue.The change in industrial structure brought aboutby economic growth inevitably resulted in the decline of other industries. Chief among these was the coal-mining industry, which, with the onset of a full-scale energy revolution, lost its role as energy supplier owing to the import of cheap crude oil. The third chapter discusses the government's industrial policies as they addressed the coal industry's adjustment in the high-growth era, concluding that they reduced such problems as stagnation, unemployment, and local industrial decline. The adjustments in employment practices contributed positively to the gradual shift of labor from declining industries to growth industries. The fourth chapter investigates changes in labor management in the steel industry, which was one of the high-growth era's leading industries. This publication will serve as a valuable resource for those who are interested not only in the post-war history in Japan but also in high growth economies in recent East Asia.

The pursuit of sustainable development and smart growth is a main challenge today in countries around the world. Social capital is an asset of their territorial communities. It is also a precondition for national and local policies that aim to better the economic base and quality of life for all. This change is socially diffused, economically sustainable over time, and smart in its content. A significant stock of social capital facilitates such results because it links into the process of development planning institutional decision makers and socioeconomic stakeholders who share trust, solidarity norms, and a community vision. In the last thirty years, social capital has become a forceful concept in the social sciences, the subject of many scholarly works and a topic of keen interest and debate in policy circles. Yet the main focus has been on defining and measuring social capital, with little attention given to its value in promoting development policies.Social Capital in Development Planning updates and advances the debate on social capital through the analysis of the application of the concept of social capital to programs for sustainable and smart socioeconomic development; empirical findings; and a new paradigm for development planning.

The study presents archival evidence to show how President Kaunda raised political and economic exclusivity in Zambia in the early years of Zambia's independence, and how this retarded capital investment. Despite formal reforms and a new government, this institutional mechanism still dominates and constrains Zambia's political economy today.

This book is open access under a CC BY 4.0 license.Presenting rigorous and original research, this volume offers key insights into the historical, cultural, social, economic and political forces at play in the creation of world-class ICT innovations in Kenya. Following the arrival of fiber-optic cables in 2009, Digital Kenya examines why the initial entrepreneurial spirit and digital revolution has begun to falter despite support from motivated entrepreneurs, international investors, policy experts and others. Written by engaged scholars and professionals in the field, the book offers 15 eye-opening chapters and 14 one-on-one conversations with entrepreneurs and investors to ask why establishing ICT start-ups on a continental and global scale remains a challenge on the “Silicon Savannah”. The authors present evidence-based recommendations to help Kenya to continue producing globally impactful ICT innovations that improve the lives of those still waiting on the side-lines, and to inspire other nations to do the same.

This volume explores the role of territory in the creation, maintenance and extension of a new type of frontier, the electronic frontier, from a social and economic point of view. It departs from the earlier concepts of borders – state, social, economic, ethnic, religious, etc. – to investigate the fluidity of borders and their shift towards an axis-based paradigm within the free-movement European Union. Specifically, the authors will examine a) the metamorphoses of frontiers between the real and the virtual, b) the importance of space (territory) in the new information society and the Digital Single Market and c) the evolution of electronic frontiers in relation to globalization and the network society. What happens when the Internet collides with new social and economic borders? In the past borders have been perceived from only a national state point of view. Now new types of borders or frontiers, such as social, economic, ethnic, religious frontiers, can be discussed. The electronic frontier is the result of a socio-economic analysis of the relationship between the Internet and new frontiers in society and the economy. The European space best represents the fluidity of borders and frontiers within this transformation. Thus, the European Union is the best space to perform research on the electronic frontiers. Borders are permeable or impermeable, agents of inclusiveness or of exclusion. The relations between the real space and the virtual space, but also the influence of the Internet on society, lead us to two other important concepts for our research, namely digital divide and digital inclusion, which define connections or barriers even within the virtual space. This book attempts to answer questions such as: What types of borders have information and communication technologies created in Europe? Which is the foundation of these new frontiers? How does the network society function in Europe and which type of frontier prevails? This title aims to fill the gap in the literature in the relationship between frontiers and information and communication technologies.

This book brings together the work of researchers in Eastern and Western Europe, who analyze competitiveness, social exclusion and sustainability from a range of perspectives. It examines the key challenges faced by the EU in its efforts to establish a socially inclusive and greener path to growth and develops policy recommendations to simultaneously achieve the EU 2020 agenda's long-term goals and address the current economic crisis in Europe.

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.

The contributors investigate the inter-relationships between migrant remittances and the family in Asia. They argue that, in the context of Asian transnational labour migration where remittances tend to become a primary currency of care, the making or breaking of the family unit is mainly contingent on how individuals handle remittance processes.

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.

This book compiles the presentations and discussions from the international symposium “Beyond Global Capitalism” that was held with the contributions of Emmanuel Todd, Ha-Joon Chang, and other scholars in Kyoto, Japan, in 2013. The book is intended make the reader aware that global capitalism, or globalism, has increased its power in recent years, bringing about a variety of harmful effects to the peoples of the world. Drawing upon a variety of academic disciplines including economics, political economic science, economic thought, anthropology, history, and political science, the contributors to this book identify theories and strategies for overcoming the worldwide problems that have been caused by global capitalism. The discussions presented here foster the development of theoretical and practical frameworks for a global economy that moves beyond global capitalism. They also argue for the development of a stable, rich, and resilient economy and society that enhances the well-being of people all over the world in the twenty-first century.

Premier levier de croissance en période de morosité domestique, le développement à l'international est une priorité stratégique pour 95% des groupes français. Prenant appui sur les enquêtes de l'Observatoire du développement international, menées depuis 2010 auprès de 800 entreprises, cet ouvrage décrypte les stratégies et les bonnes pratiques de business development international, les relations entre siège et filiales, les questions d'expatriation, de financement, de marketing « glocal ». Il formule des recommandations et met en relief les nouvelles tendances : modèles agiles, innovation inversée, innovation frugale, BRIC et pays émergents.Illustré de témoignages et de cas concrets dans les secteurs variés (agroalimentaire, télécommunications, santé, etc.), ce livre s'adresse aux dirigeants et responsables d'activités internationales, ainsi qu'aux étudiants en management international.

This study addresses the two major challenges facing the global economy: globalization and the European structural crisis. In addition, it takes a closer look at the impact of this on the Italian economy. The findings reflect on the issue of long term growth and suggest ways in which to create sustainable financial conditions for the future.

The author examines the rise of the BRICs and the supposed decline of the United States. Focusing on the boom years from 1992 to 2007, and the crisis years after 2008, he argues that there are limits to the rise of the former and that the extent of US decline has been greatly exaggerated.

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.

This innovative volume, with contributions from well-established and newer authors in the field, offers important contemporary insights on various issues in trade and development. It comprises both updated reviews on classic issues in the field; important contributions on newer areas including informal cross border trade, agglomeration and trade facilitation; and insights from firm studies. One important theme explored here is the greater difficulty Sub-Saharan Africa has had in benefiting from trade compared to East Asia and Latin America.'- Andy McKay, University of Sussex, UKThis timely Handbook comprehensively explores the complex relationships between trade and economic performance in developing countries, illustrating that it is not trade per se that is important but the context, at the firm, country and regional level, in which trade occurs.The Handbook on Trade and Development provides a review of the current understanding of major trade issues facing developing countries through considering specific region or country case studies. Broad topics are covered including trade costs and facilitation; trade preferences; trade and firm performance; and child labor. Chapters on sub-Saharan Africa cover primary commodities, informal cross-border trade, agglomeration and regional integration. Chapters on Latin America include the role of imported technology; exchange rates; export diversification; FDI; and firm exporting. Chapters on East Asia cover the increasing importance of China in world trade and links between trade and environment, labor markets and FDI.This discerning work will be an indispensable reference point for academics, researchers and students of development economics. The broad range of topics covered will provide a useful insight for practitioners and policy makers into the nuances of the complex relationship between trade and the economy in developing regions.Contributors include: C. Ackah, M.R. Agosin, P-.C. Athukorala, L.D.C. Chancí Arango, X. Cirera, E. Cooke, A.M. Fernandes, E. Ferro, R. Garcia, S. Golub, G. Herath, I.T. Kandilov, A. Leblebicio lu, G. Leeves, V. Leyaro, R.A. López, P. McConaghy, J. Menon, A. Mold, O. Morrissey, M. Persson, A. Prizzon, K. Sharma, E. Siba, M. Söderbom, T.T.H. Tambunan, F.E. Turkson, A. Voy, A. Waldkirch, W. Wei, J.S. Wilson, J. Zhang, X. Zhang

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.

The study deals with challenging questions of long-term future of global economy and the mankind. Focusing not only on what happens in the economic sphere but also on cultural, social, political, demographic, technological, and ecological processes. It employs a holistic approach to answer fundamental questions about the course of the future.

The author re-examines the concept of equality in international society, past and present. The view that equality necessarily flows from sovereignty is considered a contingent rather than a necessary contention. A new framework for equality in international society is sketched out emphasising the normative strength of the principle of equality.

The rise of multinational corporations (MNCs) from emerging markets has been a major development during the last decade. An important feature of emerging market MNCs is their close relationship with home states. The book investigates this special kind of relationship and explores how it affects the cross-border activities of these corporations.

Productive transformation requires seizing the opportunities available and opening new ones in a competitive world. Rethinking Productive Development examines the market failures impeding transformation and the government failures that may make the policy remedies worse than the market illness. To address market failures, the authors propose a simple conceptual framework based on the scope and nature of the policy approach. They then systematically analyze country policies through this lens in key areas such as innovation, new firms, financing, human capital, and internationalization to show the power of this way of thinking. Still, the book warns that policymakers cannot be sure what the right policy interventions are and must set up a process to discover them that calls for public-private collaboration. Recognizing that the risk of capture needs to be checked and that even the best policies will fail without the technical, organizational, and political capacity to implement them, thebook concludes with ideas on how to design institutions fostering the right incentives and how to grow public sector capabilities over time.

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.

Economic growth continues to transform the economic and political landscape of Asia. Equally the policies now being adopted to promote private sector participation, re-structure state entities, and reduce the presence of the state in the provision of public goods and services, are tied to fundamental transformations in Asia's state-society relations. The global cast of contributors present a timely analysis of the impact of neo-liberalism on Asia's developmental policies and the organisation of Asian states and markets. Ironically, the'developmental state'that has historically driven Asia's rapid economic transformation is now threatened by an increasingly dominant neoliberal agenda that aims to roll back the state in the name of market fundamentalism.

This study combines lessons drawn from events and experiences of developing countries and examines them in relation to Jan Kregel's ideas on economics and development. The contributors provide in-depth analysis on: financial stability and crises, monetary systems, banking, global governance, employment, inflation and political economy

The book investigates the relation between technology and institutions and their mutual influence during processes of development and change and illustrates this on the development process in Argentina after 1946. General and case-study specific policy recommendations are offered.

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.

Dieses Buch stellt eine kompakte Einführung in die'ältere'und'neue'Wachstums- und Außenhandelstheorie bereit. Sozio-ökonomische Entwicklungsprozesse werden aus dem Zusammenwirken der einzelnen Marktteilnehmer im Kontext der Gleichgewichtstheorie der Wachstums- und Außenhandelsdynamik analysiert und erklärt. Die Außenwirtschaftstheorie versteht sich dabei als natürliche Erweiterung der Wachstumstheorie. Neben den traditionellen Themen bilden die (intertemporale) Analyse aktueller Fragen, wie jene nach den Grenzen der Staatsverschuldung, sowie eine ausführliche Behandlung der'neuen'Wachstums- und Außenhandelstheorie einen besonderen Schwerpunkt. Eine gute Verständlichkeit der formal-analytischen Erklärungsansätze ist dabei vorrangiges Ziel. Diese werden deshalb anhand ein und desselben Modelltyps präsentiert, zudem werden Nutzen und Produktionsfunktioen auf denkbar einfache Weise funktional spezifiziert und mathematisch anspruchsvollere Passagen in Anhängen detailliert erläutert.

A collection of eight articles by 17 specialists, this volume provides very recent research on the factors which contribute to the build up of entrepreneurship. Offers an international, comparative and historical perspective, with a special focus upon the Mediterranean.

As emerging powers deepen their involvement in world trade and global governance, it is crucial to explore the what and the why of their strategic choices vis-a-vis the World Trade Organization. This book does just that, examining the trade policy decisions of two emerging power states, Brazil and India, since 2001. In this timely work, Laura Carsten Mahrenbach develops a broad-based analytical framework which addresses trade policy within EP states, in their regions and on the global level. The findings underline the importance of examining domestic factors when trying to understand strategic decisions by emerging powers. They also have important implications for our understanding of the role of emerging power states in global (trade) governance.

1. Introduction and overview Until still few years ago, economic growth theory (going back to Solow, 1956; for an introduction cf. Burmeister and Dobell, 1970) predicted convergence of both growth rates and level of per capita income of economies which share identical preferences, technologies and same population growth rates, independently of initial conditions. Countries with a low capital stock grow faster than those with a higher capital stock, until, in the long-run, they all converge to a common constant growth rate. This prediction is due to the way how growth is'explained'in models of this kind. Growth of output per capita resulted, in the simplest model, from an exogenous growth oflabour productivity (see e. g. Sala-i-Martin, 1990; Grossman and Helpman, 1991a, ch. 2). Si!1ce this increase of productivity is exogenously given, the model itselfdoes not give any explanation ofits source. The prediction ofconvergence ofgrowth rates, itself, is very doubtful and observations show, that on an international level either convergence is not given at all, or that it takes a very long time. The literature of the'new'theory of growth provides a rich variety of models whose theoretical implications range from divergence to convergence and thus offers much better working tools in order to analyze real world observations. These models (starting with Romer, 1986 and Lucas, 1988) explain growth of GNP or per capita income from within the model by includingexternal effects such as a public stock ofknowledge capital (e. g.