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This comprehensive study is a collection of original articles that view the current state of knowledge of the convergence hypothesis. The hypothesis asserts that at least since the Second World War, and perhaps for a considerable period before that, the group of industrial countries was growing increasingly homogeneous in terms of levels of productivity, technology and per capita incomes. In addition, there was general catch up toward the leader, with gradual erosion of the gap between the leader country, the U.S., throughout most of the pertinent period, and that of the countries lagging most closely behind it. The book examines patterns displayed by individual industries within countries as well as the aggregate economies, various influences that underlie the process of convergence that seems to have occurred, and the role that convergence has played and promises to play in the future of the newly industrialized nations and the less developed countries. Much of the analysis is set in a historical perspective, with particular attention paid to the record following World War II. The prestigious editors conclude that increasing productivity is the key to rising living standards in a globalized marketplace. Contributors include: Moses Abramovitz, Alice M. Amsden, Magnus Blomstrom, David Dollar, Takashi Hikino, Gregory Ingram, William Lazonick, Frank Lichtenberg, Robert E. Lipsey, Angus Maddison, Gavin Wright, and Mario Zejan.
The study provides a major reassessment of the scale and scope of China’s resurgence over the past half century, employing quantitative measurement techniques which are standard practice in OECD countries, but which have not hitherto been available for China.
Written in nontechnical terms, Big Business and the Wealth of Nations explains how the dynamics of big business have influenced national and international economies in the twentieth century. A path-breaking study, it provides the first systematic treatment of big business in advanced, emerging, and centrally planned economies from the late nineteenth century, when big businesses first appeared in American and West European manufacturing, to the present. These essays, written by internationally known historians and economists, help one to understand the essential role and functions of big businesses, past and present.
“A good read for anyone who wants to understand what actually determines whether a developing economy will succeed.” —Bill Gates, “Top 5 Books of the Year” An Economist Best Book of the Year from a reporter who has spent two decades in the region, and who the Financial Times said “should be named chief myth-buster for Asian business.” In How Asia Works, Joe Studwell distills his extensive research into the economies of nine countries—Japan, South Korea, Taiwan, Indonesia, Malaysia, Thailand, the Philippines, Vietnam, and China—into an accessible, readable narrative that debunks Western misconceptions, shows what really happened in Asia and why, and for once makes clear why some countries have boomed while others have languished. Studwell’s in-depth analysis focuses on three main areas: land policy, manufacturing, and finance. Land reform has been essential to the success of Asian economies, giving a kick-start to development by utilizing a large workforce and providing capital for growth. With manufacturing, industrial development alone is not sufficient, Studwell argues. Instead, countries need “export discipline,” a government that forces companies to compete on the global scale. And in finance, effective regulation is essential for fostering, and sustaining growth. To explore all of these subjects, Studwell journeys far and wide, drawing on fascinating examples from a Philippine sugar baron’s stifling of reform to the explosive growth at a Korean steel mill. “Provocative . . . How Asia Works is a striking and enlightening book . . . A lively mix of scholarship, reporting and polemic.” —The Economist
This book brings together important essays by distinguished scholars who have devoted past attention to the study of imperialism and development. It comple ments an anthology of previously published essays that brings together important theoretical perspectives around the issues and debates on these themes; this volume will be published by Humanity Press (forthcoming). Both projects relate to a lengthy chapter "Theories of Imperialism," which will be published in my book The ories of Comparative Political Economy (Forthcoming). These projects represent a culmination of many years of teaching in both economics and political science. During that time I taught two political science courses on development and under development, but I was unable to convince my colleagues of the usefulness of a course on imperialism that linked historical issues and debates with the more recent developmental literature. When in 1990 I was welcomed into economics, my col leagues endorsed a graduate seminar on the political economy of imperialism. Thus, this volume evolved out of that experience in an effort to encourage new analysis that reflects retrospectively on past contributions as well as the prospects for impe rialism and development in the contemporary world.
Taiwan’s rapid industrialization during the 1960s and 1970s, combined with the democratic revolution that began with the lifting of martial law in 1987 were of deep historic importance. Over the next decade Taiwan’s "political miracle" matched its earlier "economic miracle" creating a vibrant liberal democracy complete with freedom of speech, association and assembly, rule of law, and competitive and fair multi-party elections. The continuation of these achievements and the new challenges that have surfaced are addressed in rich detail in the chapters of this volume by an international team of experts. One of the biggest such challenges is Mainland China’s economic success, which has added to the complexity of Taiwan’s economic and political policy options. A number of the contributors to this volume consider Taiwan’s response to China’s economic rise and show how Taiwanese companies have strategically taken advantage of the changing economic environment by moving up the value chain of production within Taiwan while also taking the opportunity to invest overseas. With chapters covering a wealth of topics including: Constitutional reform National identity Party politics Taiwan's development model Industrial policy Trade and investment Globalization Sustainable development Taiwan's Democracy will be of huge interest to students and scholars of Taiwan studies, Chinese politics and economics, international politics and economics, and development studies.
In this book Australian economist, Graham Dunkley, explains and critiques the crucial concept of free trade. A policy of free trade is central to today's world-dominating globalization project. The more euphoric globalists uncritically assume that it has universal and unequivocal benefits for all people and countries. And the perpetual negotiations of the World Trade Organization are wholly based on this presumption. Graham Dunkley shows, however, that leading economists have always been more sceptical about free trade doctrine than the dogmatic globalizers realize. There are more holes in free trade theory than its advocates grasp. And the benefits of free trade in practice are more limited and contingent than they acknowledge. He also argues that the World Bank's long-time push for export-led development is misguided. A more democratic world trading order is necessary and possible. And more interventionist, self-reliant trade policies are feasible, especially if a more holistic view of economic development goals is adopted.
Migration and Inequality in Germany 1870-1913 presents a new view of German history in the late nineteenth century. Dr Grant argues that many of the problems of Imperial Germany were temporary ones produced by the strain of rapid industrialisation. Drawing on the tools of development economics he argues that Germany passed through a labour surplus phase as desribed by the Lewis Model. This period came to an end around 1900, creating more favourable conditions for political reform and social reconciliation. But Germany's progress to full political and economic maturity was derailed at the outbreak of war in 1914. Dr Grant bases his argument on an analysis of the economic and demographic forces driving migration in nineteenth-century Germany. High rural-urban migration led to the rapid expansion of German cities. The main factors driving this were social and economic change in the countryside and the process of the demographic transition. The release of surplus labour onto urban labour markets held back wage increases and led to an increase in inequality. The German economy behaved in a way which seemed to bear out the predictions of Karl Marx and this contributed to the appeal of Marxist ideas and the rise of the social democratic vote. However, this was a temporary phase. The labour surplus period was largely over by 1900. The rise in inequality which had begun in the 1820s came to an end, and inequality began to fall. Contrary to received wisdom, Germany was not on the brink of a general socio-economic crisis in 1914; instead it was moving away from one. However, the political system failed to take advantage of this opportunity, and Germany's dependence on imported food and raw materials led to a strategic crisis which combined disastrously with internal political problems.