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Transformative new technologies are reshaping economies and societies. But as they create new opportunities, they also pose new challenges, not least of which is rising inequality. Increased disparities and related anxieties are stoking societal discontent and political ferment. Harnessing technological transformation in ways that foster its benefits, contain risks, and build inclusive prosperity is a major public policy challenge of our time and one that motivates this book. In what ways are the new technologies altering markets, business models, work, and, in turn, economic growth and income distribution? How are they affecting inequality within advanced and emerging economies and the prospects for economic convergence between them? What are the implications for public policy? What new thinking and adaptations are needed to realign institutions and policies, at national and global levels, with the new dynamics of the digital era? This book addresses these questions. It seeks to promote ideas and actions to manage digital transformation and the latest advances in artificial intelligence with foresight and purpose to shape a more prosperous and inclusive future.
Addressing the big questions about how technological change is transforming economies and societies Rapid technological change—likely to accelerate as a consequence of the COVID-19 pandemic—is reshaping economies and how they grow. But change also causes disruption, creates winners and losers, and produces social stress. This book examines the challenges of digital transformation and suggests how creative policies can make it more productive and inclusive. Shifting Paradigms is the second book on technological change produced by a joint research project of the Brookings Institution and the Korea Development Institute. Contributors are experts from the United States, Europe, and Korea. The first volume, Growth in a Time of Change, was published by Brookings in February 2020. The book's underlying thesis is that the future is arriving faster than expected. Long-accepted paradigms about economic growth are changing as digital technologies transform markets and nearly every aspect of business and work. Change will only intensify with advances in artificial intelligence and other innovations. Investors, business leaders, workers, and public officials face many questions. Is rising market concentration inevitable with the new technologies or can their benefits be more widely shared? How can the promise of FinTech be captured while managing risks? Should workers fear the new automation? Are technology-driven shifts in business and work causing income inequality to rise? How should public policy respond? Shifting Paradigms addresses these questions in an engaging manner for anyone interested in understanding how the economic and social agenda is being transformed by today's winds of change.
Growth in a Time of Change: Global and Country Perspectives on a New Agenda is the first of a two-book research project that addresses new issues and challenges for economic growth arising from ongoing significant change in the world economy, focusing especially on technological transformation. The project is a collaboration between the Brookings Institution and the Korea Development Institute. Part I of the book looks at key elements of change from a global perspective. It analyzes how technological change, shifts in investment, and demographic transition are affecting potential economic growth globally and across major groups of economies. The contributors explore possible scenarios for the global economy as the digital revolution drives rapid technological change, including impacts on growth, jobs, income distribution, trade balances, and capital flows. Technology is changing the global configuration of comparative advantage and globalization increasingly has a digital dimension. The implications of these developments for the future of sectors such as manufacturing and for international trade are assessed. Part II of the book addresses new issues in the growth agenda from the perspective of an individual major economy: South Korea. The chapters in this section analyze how macroeconomic developments and technological change are influencing the behavior of households and firms in terms of their decisions to consume, save, and invest. Rising income and wealth inequalities are a major concern globally. Against this backdrop, trends in the labor income share and wage inequalities in South Korea are analyzed in terms of the role played by technology, industrial concentration, shifts in labor demand and supply, and other factors. Throughout the book, the contributors, in their analysis of both global and Korea-specific trends and prospects, place emphasis on drawing implications for policy.
This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. In one country, the prime minister pushes for the liberalization of digital finance as a central pillar of the country's national strategy, while the central bank almost makes it a criminal offence. In another, the digital minister tries to scupper the very process to support digital transformation that the president has asked them to co-lead. This book gives a ringside seat on seven developing countries' tumultuous early steps on the path to a reform of the economy and the government using technology. Written by a group of academics and practitioners from Oxford at the heart of the process, but foregrounding the voices of the policymakers and participants, this book documents and critically assesses efforts to assist a set of governments to kick-start digital transformation. In doing so, it offers lessons for policymakers in other countries who want to pursue similar efforts. Beyond that, however, it is also an exposition of the process of policymaking more generally in the 2020s, and offers broader insight into how outsiders can play a sensible role in other reform processes in developing and emerging countries.
Can the G-20 become a steering committee for the world's economy? Launched at a moment of panic triggered by the financial crisis in late 2008, the leaders' level G-20 is trying to evolve from crisis committee for the world economy to a real steering group facilitating international economic cooperation. What can and should such a "steering committee" focus on? How important could the concrete gains from cooperation be? How much faster could world growth be? Is there sufficient legitimacy in the G-20 process? How does the G-20 relate to the IMF and the World Bank? How can Australia in 2015, and then Turkey in 2016, chair the process so as to encourage strategic leadership? The East Asian Bureau of Economic Research in the Crawford School of Public Policy at the Australian National University and the Global Economy and Development program at the Brookings Institution joined forces in putting together this volume and asked opinion leaders and policymakers from G-20 countries to provide their independent perspectives. Contributors include Colin Bradford (Brookings), Peter Drysdale (Australian National University), Kemal Dervis (Brookings), Andrew Elek (Australian National University), Ross Garnaut (University of Melbourne), Huang Yiping (China Center for Economic Research), Bruce Jones (Brookings), Muneesh Kapur (IMF), Homi Kharas (Brookings), Wonhyuk Lim (Korea Development Institute), Rakesh Mohan (IMF), David Nellor (consultant, Indonesia), Yoshio Okubo (Japan Securities Dealers Association), Mari Pangestu (Republic of Indonesia), Changyong Rhee (former Asian Development Bank), Alok Sheel (Government of India), Mahendra Siregar (Republic of Indonesia), Paola Subacchi (Chatham House, London), Carlos Vegh (Brookings), Guillermo Vuletin (Brookings), and Maria Monica Wihardja (World Bank).
Global Citizen from Gulmi recounts Kul Chandra Gautam's journey from a remote village in Nepal, lacking schools, roads and electricity, to the highest ranks of UNICEF. By turns serious, amusing and poignant, it shares the highs and the lows of an illustrious career spanning three decades. It contains candid anecdotes about Gautam's interactions with international personalities such as Nelson Mandela, Aung San Suu Kyi, Bill Gates, Eduard Shevardnadze and King Bhumibol Adulyadej of Thailand as well as UNICEF's celebrity Goodwill Ambassadors. Gautam also shares his insightful views on the future of Nepal, the UN and global society as a whole.
Digital transformation across the public sector has stalled. After over 25 years of considerable time, money, and effort at national, state, and local levels, we’re still not 'there' yet. The reason is that successive waves of investment in digital transformation have focused largely on improving the transactional functions and activities of government. They have failed to embrace a bigger challenge - the need for governing and government to rethink a new 'theory of the business' - which that same revolution has caused and to which it is an inescapable part of the answer. This is a unique, timely, and distinctly Australian look at a global phenomenon by two 'reflective practitioners'. Their personal and practical experience of digital transformation in government and the public sector in Australia suggests it is a story missing half its plot. Packed full of insights from government and digital leaders from around Australia and across the world, this is a much-needed practical guide for public servants and leaders in any jurisdiction. It contains insights and ideas about the way digital technologies, and their associated tools, platforms, and cultures, are changing the business of governing and the design and delivery of public policy and services. "Are We There Yet? lucidly diagnoses how digital technologies, including AI and big data, are transforming the role of the public servant and the project of governance itself. Stewart-Weeks and Cooper describe the important shift from power to problem-solving and explain how to harness digital transformation to make government work better for all of us.” - Beth Noveck, author of Wiki Government, former Deputy Chief Technology Officer in the Obama White House, Professor in Technology, Culture & Society, New York University and Chief Innovation Officer for New Jersey "I've read a lot about the potential impact of digital technology on public services … this is the first book to persuade me that the power of digital, properly conceived, really can transform the nature of democratic governance." - Professor Peter Shergold AC, Chancellor, Western Sydney University, Former Secretary, Department of Prime Minister and Cabinet
This book enhances the reader’s understanding of the theoretical foundations, sociotechnical assemblage, and governance mechanisms of sustainable smart city transitions. Drawing on empirical evidence stemming from existing smart city research, the book begins by advancing a theory of sustainable smart city transitions, which forms bridges between smart city development studies and some of the key assumptions underpinning transition management and system innovation research, human geography, spatial planning, and critical urban scholarship. This interdisciplinary theoretical formulation details how smart city transitions unfold and how they should be conceptualized and enacted in order to be assembled as sustainable developments. The proposed theory of sustainable smart city transitions is then enriched by the findings of investigations into the planning and implementation of smart city transition strategies and projects. Focusing on different empirical settings, change dimensions, and analytical elements, the attention moves from the sociotechnical requirements of citywide transition pathways to the development of sector-specific smart city projects and technological innovations, in particular in the fields of urban mobility and urban governance. This book represents a relevant reference work for academic and practitioner audiences, policy makers, and representative of smart city industries. The chapters in this book were originally published as a special issue of the Journal of Urban Technology.