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The Economics of Israel provides information pertinent to the important features in Israel's economic development, which is the outcome of large-scale capital import. This book discusses the various economic issues that the people of the State of Israel are confronted with, including difficult problems of controlling inflation, diversity of socio-economic structure, and geopolitical isolation. Organized into eight chapters, this book begins with an overview of Israel's geographical characteristics and natural resources. This text then examines the international economic relations of Israel. Other chapters consider the financial development in Israel since the establishment of the State. This book discusses as well the different elements of economic growth and the dynamic reaction of the economic structure of the immigration country to the process of migration. The final chapter deals with the unusual diversity of the social structure of the economy of Israel. This book is a valuable resource for readers who are interested in the economics of Israel.
An authoritative economic history of Israel from its founding to the present In 1922, there were ninety thousand Jews in Palestine, a small country in a poor and volatile region. Today, Israel has a population of nine million and is one of the richest countries in the world. The Israeli Economy tells the story of this remarkable transformation, shedding critical new light on Israel's rapid economic growth. Joseph Zeira takes readers from those early days to today, describing how Israel's economic development occurred amid intense fighting with the Palestinians and neighboring Arab countries. He reveals how the new state's astonishing growth continued into the early 1970s, and traces this growth to public investment in education and to large foreign transfers. Zeira analyzes the costs of the Arab-Israeli conflict, demonstrating how economic output could be vastly greater with a comprehensive peace. He discusses how Israel went through intensive neoliberal economic policies in recent decades, and shows how these policies not only failed to enhance economic performance, but led to significant social inequality. Based on more than two decades of groundbreaking research, The Israeli Economy is an in-depth survey of a modern economy that has experienced rapid growth, wars, immigration waves, and other significant shocks. It thus offers important lessons for nations around the world.
What the world can learn from Israel's meteoric economic success. Start-Up Nation addresses the trillion dollar question: How is it that Israel -- a country of 7.1 million, only 60 years old, surrounded by enemies, in a constant state of war since its founding, with no natural resources-- produces more start-up companies than large, peaceful, and stable nations like Japan, China, India, Korea, Canada and the UK? With the savvy of foreign policy insiders, Senor and Singer examine the lessons of the country's adversity-driven culture, which flattens hierarchy and elevates informality-- all backed up by government policies focused on innovation. In a world where economies as diverse as Ireland, Singapore and Dubai have tried to re-create the "Israel effect", there are entrepreneurial lessons well worth noting. As America reboots its own economy and can-do spirit, there's never been a better time to look at this remarkable and resilient nation for some impressive, surprising clues.
First published in 1960, The Economy of Israel presents a critical account of the first ten years of Israeli economy. The book starts with a short description of the physical nature of the country and an examination of the Zionist ideas which played a decisive role in the formation of Israel. Part I of the book surveys the economy of Israel and traces the significant features of its development between 1948 and 1958. Part II is not a photograph of Israel’s exchange regulations at one particular date, but an eclectic account of the variable features of a flexible system that had but one constant factor, namely, the absence at any time of an effective unitary exchange rate. Part III of the book contains some general observations that are largely speculative. The book concludes with an examination of the prospects of Israel’s economy with special reference to the charitable aid which has provided it with its life blood during the first decade. This is an important historical account for scholars and researchers of economics, Middle East economics, and history of Israel.
The Israeli occupation of the Palestinian territories since 1967 has many important economic aspects that are often overlooked. In this highly original book, Shir Hever shows that both sides need to address the economic dimension if progress is to be made. Hever rejects the premise that Israel keeps control over Palestinian territories for material gain, and also the premise that Israel is merely defending itself from Palestinian aggression. Instead, he argues that the occupation has reached an impasse, with the Palestinian resistance making exploitation of the Palestinians by Israeli business interests difficult, and the Israeli authorities reluctant to give up control. With traditional economic analysis failing to explain this turn of events, this book will be invaluable for students, activists and journalists struggling to make sense of the complex issues surrounding Israel's occupation.
The debate about globalisation and its discontents
The Israeli economy was performing well before the COVID-19 shock but the pandemic is threatening to reverse some of Israel’s recent economic achievements, raise poverty and exacerbate wide productivity disparities between its vibrant high-tech sector and lagging sheltered sectors. Lockdown measures and high uncertainty have led to a sharp contraction in output and reduced employment.
Israel’s economy continues to register remarkable macroeconomic and fiscal performance. Growth is strong and unemployment is low. The external surplus is comfortable, and the public debt-to-GDP ratio, already well below the OECD average, is still falling. However, Israeli society remains marked by weak social cohesion and significant disparities, which penalise parts of the population and threaten the longer-term sustainability of these good results. Despite better employment outcomes among Israeli-Arabs and the Haredim, workers from these communities are often trapped in low-paid jobs due to their weak skill sets, implying persistent poverty and weak aggregate productivity. Moreover, low social transfers imply that the often large families in these communities face deprivation that contributes to child poverty. High cost of living and house prices also weigh on the social situation and well-being, and public transport deficiencies are detrimental to work-life balance and cause urban congestion and poor air quality. The authorities have continued their reform process over the last few years to address these issues. Making growth stronger, more inclusive and more sustainable will require further action and more public investment in education to improve the skills of Israeli-Arabs and Haredim together with additional product market reforms and better transport infrastructure. SPECIAL FEATURES: EDUCATION AND SKILLS; INFRASTRUCTURE
General study of Israel, with particular reference to economic development during the period from 1949 to 1965 - covers economic policy, government structures, demographic aspects, labour force and the occupational structure, educational level, the gross national product, income distribution, productivity, trade, fiscal policy, the effects of inflation on the economy, etc. Bibliography pp. 303 to 312, and statistical tables.
A rigorous analysis of the role played by globalization in key episodes in the development of the Israeli economy, from hyperinflation crisis to high-tech surge. Anti-globalization sentiments are rising, especially in Europe and the United States, with the increasingly integrated global economy blamed for domestic economic distress. In this book, Assaf Razin argues that Israel offers a counterexample to this view, showing decisively positive economic effects of globalized finance, trade, and immigration. He offers a rigorous analysis of the role played by globalization in key episodes in the remarkable development of the Israeli economy. His findings may hold lessons for productivity-challenged advanced economies as well as for other countries such as China currently making the transition to fully developed economies. Razin examines the wave of immigration after the collapse of the Soviet Union, as highly skilled Soviet Jews migrated to Israel and the effect on income inequality; the Great Moderation of inflation and employment in advanced economies, as Israel's inflation converged in parallel with low world inflation rates; Israel's robustness in the face of the deflation shocks of the 2008 financial crisis; and technology transmission through foreign direct investment, reinforcing Israel's high-tech sector surge. He also considers such ongoing challenges as high fertility and low labor market participation and the economic costs of the Israeli-Palestinian conflict.