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This collection of papers by former students and colleagues celebrates the profound impact that Jagdish Bhagwati has had on the field of international economics over the past three decades. Bhagwati, who is the Arthur Lehman Professor of Economics at Columbia University, has made pathbreaking contributions to the theory of international trade and commercial policy, including immiserizing growth, domestic distortions, economic development, and political economy. His success and influence as a teacher and mentor is widely recognized among students at both MIT and Columbia, and as founder of the Journal of International Economics, he has encouraged research on many questions of theoretical and policy relevance. The political economy of trade policy, Bhagwati's most recent area of interest, is the theme of this collection which addresses salient topics including market distortions, income distribution, and the political process of policy-making. Sections and Contributors Market Distortions, T. N. Srinivasan. Paul A. Samuelson. Paul R. Krugman * Trade and Income Distribution, Douglas A. Irwin. Richard A. Brecher and Ehsan U. Choudri. Robert C. Feenstra and Gordon H. Hanson. Earl L. Grinols * Perspectives on Political Economy, Robert E. Baldwin. Peter Diamond * Models of Political Economy and Trade, Gene M. Grossman and Elhana Helpman. John Douglas Wilson. B. Peter Rosendorff. Arvind Panagariya and Ronald Findlay
Images of sweatshop labor in developing countries have rallied opponents of globalization against foreign direct investment (FDI). The controversy is most acute over the treatment of low-skilled workers producing garments, footwear, toys, and sports equipment in foreign-owned plants or the plants of subcontractors. Activists cite low wages, poor working conditions, and a variety of economic, physical, and sexual abuses among the negative consequences of the globalization of industry. In Beyond Sweatshops, Theodore Moran examines the impact of FDI in manufacturing on growth and welfare in developing countries, and explores how host governments can take advantage of the contributions of foreign investment while avoiding the hazards to lower-skilled workers. He traces case studies of countries that have managed to produce steady improvement in worker treatment at plants exporting garments, footwear, and other labor-intensive products. The first part of the book examines multilateral proposals designed to place a floor under the treatment of workers around the world, contrasting a WTO-based system to enforce labor standards with "voluntary" arrangements, including corporate codes of conduct, certification organizations, and "sweatshop free" labeling. It explores the pros and cons of adding a "living wage" requirement to the ILO's core labor standards. The second part of the book presents data that significantly broadens our understanding of FDI. By analyzing the evidence from a variety of developing countries—in Asia, Latin America, and Africa—Moran demonstrates that most FDI goes to industrial sectors that employ trained workers who are not easily exploited. The flow of FDI to plants that produce electronics, auto parts, industrial equipment, chemicals, pharmaceuticals, and medical equipment, paying production workers two to five times more than what is found in lower-skilled operations, is twenty-five times the flow to garment, textile, and footwea
The book covers labour markets in Indonesia under Soeharto's New Order government.
We study a longitudinal sample of over one million French workers and over 500,000 employing firms. Real total annual compensation per worker is decomposed into components related to observable characteristics, worker heterogeneity, firm heterogeneity and residual variation. Except for the residual, all components may be correlated in an arbitrary fashion. At the level of the individual, we find that person-effects, especially those not related to observables like education, are the most important source of wage variation in France. Firm-effects, while important, are not as important as person-effects. At the level of firms, we find that enterprises that hire high-wage workers are more productive but not more profitable. They are also more capital and high-skilled employee intensive. Enterprises that pay higher wages, controlling for person-effects, are more productive and more profitable. They are also more capital intensive but are not more high-skilled labor intensive. We also find that person-effects explain 92% of inter-industry wage differentials.
People passionately disagree about the nature of the globalization process. The failure of both the 1999 and 2003 World Trade Organization's (WTO) ministerial conferences in Seattle and Cancun, respectively, have highlighted the tensions among official, international organizations like the WTO, the International Monetary Fund (IMF), the World Bank, nongovernmental and private sector organizations, and some developing country governments. These tensions are commonly attributed to longstanding disagreements over such issues as labor rights, environmental standards, and tariff-cutting rules. In addition, developing countries are increasingly resentful of the burdens of adjustment placed on them that they argue are not matched by commensurate commitments from developed countries. Challenges to Globalization evaluates the arguments of pro-globalists and anti-globalists regarding issues such as globalization's relationship to democracy, its impact on the environment and on labor markets including the brain drain, sweat shop labor, wage levels, and changes in production processes, and the associated expansion of trade and its effects on prices. Baldwin, Winters, and the contributors to this volume look at multinational firms, foreign investment, and mergers and acquisitions and present surprising findings that often run counter to the claim that multinational firms primarily seek countries with low wage labor. The book closes with papers on financial opening and on the relationship between international economic policies and national economic growth rates.
This book aims to fill a gap in the current literature by tracing the rural transformation process and the development of rural tourism functions in Poland over the last 30 years. It examines the socioeconomic transformation between 1989 and 2019 that resulted in the formation and development of Polish rural tourism and the various practices associated with it. This timely topic is addressed in a central and eastern European context and sparks interest in further in-depth analysis due the diversity and magnitude of the transformation processes undertaken by the Polish rural areas. Since Polish rural areas constitute as much as 30% of the total rural areas in all new European Union member states, this book adds value through an in-depth statistical analysis of the pace of socioeconomic changes in Polish rural areas. It delves into the creation and consumption of tourism services locally, as well as the impact of global trends on the development of rural tourism in Poland. This book will be of interest to economists, sociologists, political scientists and postgraduate students across eastern and central Europe who deal with rural tourism issues.
Recoge : 1. Introduction. - 2. Previous literature. - 3. The data. - 4. The estimation. - 5. Empirical results. - 6. Conclusions.
This book considers foreign investment flows in major Asian economies. It critically assesses the patterns and issues involved in the substantive law and policy environment which impact on investment flows, as well as the related dispute resolution law and practice. The book combines insights from international law and comparative study and is attentive to the socio-economic contexts and competing theories of the role of law in Asia. Contributions come from both academics with considerable practical expertise and legal practitioners with strong academic backgrounds. The chapters analyze the law and practice of investment treaties and FDI regimes in Asia looking specifically at developments in Japan, India, China, Indonesia, Malaysia, Korea and Vietnam. The book explores the impact of the Asian Financial Crisis in the late 1990s and the Global Financial Crisis a decade later, examining actual trends and policy debates relating to FDI and capital flows in Asia before and after those upheavals. Foreign Investment and Dispute Resolution: Law and Practice in Asia is a valuable resource for practitioners, academics and students of International and Comparative Law, Business and Finance Law, Business, Finance and Asian Studies.
Pinto develops a partisan theory of foreign direct investment (FDI) arguing that left-wing governments choose policies that allow easier entry by foreign investors more than right-wing governments, and that foreign investors prefer to invest in countries governed by the left. To reach this determination, the book derives the conditions under which investment flows should be expected to affect the relative demand for the services supplied by economic actors in host countries. Based on these expected distributive consequences, a political economy model of the regulation of FDI and changes in investment performance within countries and over time is developed. The theory is tested using both cross-national statistical analysis and two case studies exploring the development of the foreign investment regimes and their performance over the past century in Argentina and South Korea.