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Here is an introduction to the study of the international economy as a mechanism for diffusing modern economic growth between nations. It is divided into three parts, of which the first examines the workings of the system in the years before 1914. This includes an analysis of the conditions favorable to the growth of international economic relations during the period, examines the changing character of the international flows of labor, capital and trade, and surveys contemporary commercial and international monetary policies. This first part concludes with a chapter analyzing the international economy as a mechanism for diffusing economic growth, and another chapter examining the nature of the economic trends and fluctuations associated with this phase in the growth of the international economic system. The second part gives an account of the collapse of the international economy during the interwar years, and traces the causes of collapse to changes in the structure and functioning of the system brought about by World War I and the depression of the 1930s. The final part takes the story beyond World War II. It describes the wartime and post-war efforts to reconstruct the international economic system, and examines the working of the new system in the period after 1945, bringing out both its strengths and its weaknesses.
This text is widely acknowledged to be the best available introduction to the study of the international economy as a mechanism for diffusing modern economic growth between nations. Updating the story to the present day, this edition covers the latest developments in international economics. Significant new additions include: * globalization and the world economy * the growth of regional trading blocs * globalization and financial crisis in Asia * transition to the market in post-communist economies Packed with new references and data, The Growth of the International Economy is an indispensable guide to the world economy as it enters the new millennium.
A brief, up-to-date account of Italy's transformation from an agrarian state to an industrial powerhouse.
How the rise of globalization over the past two centuries helps explain the income gap between rich and poor countries today. Today's wide economic gap between the postindustrial countries of the West and the poorer countries of the third world is not new. Fifty years ago, the world economic order—two hundred years in the making—was already characterized by a vast difference in per capita income between rich and poor countries and by the fact that poor countries exported commodities (agricultural or mineral products) while rich countries exported manufactured products. In Trade and Poverty, leading economic historian Jeffrey G. Williamson traces the great divergence between the third world and the West to this nexus of trade, commodity specialization, and poverty. Analyzing the role of specialization, de-industrialization, and commodity price volatility with econometrics and case studies of India, Ottoman Turkey, and Mexico, Williamson demonstrates why the close correlation between trade and poverty emerged. Globalization and the great divergence were causally related, and thus the rise of globalization over the past two centuries helps account for the income gap between rich and poor countries today.
The result of two years work by 19 experienced policymakers and two Nobel prize-winning economists, 'The Growth Report' is the most complete analysis to date of the ingredients which, if used in the right country-specific recipe, can deliver growth and help lift populations out of poverty.
Reveals how the expanding world-system entangled the non-Western world in global economies, yet did so in ways that were locally articulated, varied, and, often, non-European in their expression. This interdisciplinary volume brings together a richly substantive collection of case studies that examine European-indigene interactions, economic relations, and their materialities in the formation of the modern world. Research has demonstrated the extent and complexity of the varied local economic and political systems, and diverse social formations that predated European contact. These preexisting systems articulated with the expanding European economy and, in doing so, shaped its emergence. Moving beyond the confines of national or Atlantic histories to examine regional systems and their historical trajectories on a global scale, the studies within this volume draw examples from the Caribbean, Mesoamerica, North America, South America, Africa, and South Asia. While the contributions are rooted in substantive studies from different world areas, their overarching aim is to negotiate between global and local frames, revealing how the expanding world-system entangled the non-Western world in global economies, yet did so in ways that were locally articulated, varied and, often, non-European in their expression.
This text is widely acknowledged to be the best available introduction to the study of the international economy as a mechanism for diffusing modern economic growth between nations. Updating the story to the present day, this edition covers the latest developments in international economics. Significant new additions include: * globalization and the world economy * the growth of regional trading blocs * globalization and financial crisis in Asia * transition to the market in post-communist economies Packed with new references and data, The Growth of the International Economy is an indispensable guide to the world economy as it enters the new millennium.
Kenwood and Lougheed’s classic book has been the benchmark introduction to the development of the global economy for decades. For this fifth edition, Michael Graff has brought the story up to date to include events from the early part of the twenty first century – continued globalization, the emergence of Asia as an economic power and the greater role played by business on the international scene. Beginning with the industrial revolution, the book charts the long nineteenth century, the impact of colonialism, the fast pace of technology growth and the impact of global wars. New features to this edition include: a prologue explaining the initial conditions faced by the world economy in 1820, detailing the beginnings of international trade and the influence of slavery greater coverage of developing countries increased coverage of World Wars I and II and of the twentieth century a number of appendices outlining the economic concepts and theories underlying the text This new edition of Growth of the International Economy provides the reader with a clear understanding of the factors which have been instrumental in creating the economic environment we face two hundred years after the industrial revolution.
Rising densities of human settlements, migration and transport to reduce distances to market, and specialization and trade facilitated by fewer international divisions are central to economic development. The transformations along these three dimensions density, distance, and division are most noticeable in North America, Western Europe, and Japan, but countries in Asia and Eastern Europe are changing in ways similar in scope and speed. 'World Development Report 2009: Reshaping Economic Geography' concludes that these spatial transformations are essential, and should be encouraged. The conclusion is not without controversy. Slum-dwellers now number a billion, but the rush to cities continues. Globalization is believed to benefit many, but not the billion people living in lagging areas of developing nations. High poverty and mortality persist among the world's 'bottom billion', while others grow wealthier and live longer lives. Concern for these three billion often comes with the prescription that growth must be made spatially balanced. The WDR has a different message: economic growth is seldom balanced, and efforts to spread it out prematurely will jeopardize progress. The Report: documents how production becomes more concentrated spatially as economies grow. proposes economic integration as the principle for promoting successful spatial transformations. revisits the debates on urbanization, territorial development, and regional integration and shows how today's developers can reshape economic geography.