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The Anti-Dumping Agreement and Developing Countries: An Introduction

Aradhna Aggarwal

This book explores the genesis and evolution of the Anti-dumping Agreement (ADA) from the perspective of the developing countries. It also outlines the evolution of the legal provisions in the ... More

This book explores the genesis and evolution of the Anti-dumping Agreement (ADA) from the perspective of the developing countries. It also outlines the evolution of the legal provisions in the existing agreement and the current ADA in a non-technical manner from a developing country viewpoint. The use of anti-dumping in developed and developing countries in a comparative framework is explained. It then deals with various economic and non-economic justifications of anti-dumping use. The wide-ranging proposals for the reform of the World Trade Organization (WTO) anti-dumping code are reported. It finally indicates the suggestions regarding the proposals that these countries need to focus on in the current round of negotiations. It is mentioned that the Agreement and its implementation both are heavily biased against the developing countries.Less

Carbon-Energy Taxation: Lessons from Europe

Mikael Skou Andersen and Paul Ekins (eds)

When taxes are introduced on carbon and energy, and the revenue is used to reduce other taxes, will a positive effect be achieved both for the environment and for the economy? In 1990, Finland was ... More

When taxes are introduced on carbon and energy, and the revenue is used to reduce other taxes, will a positive effect be achieved both for the environment and for the economy? In 1990, Finland was the first country that introduced a tax on CO2. Later, Sweden, Denmark, Netherlands, Slovenia, Germany, and the UK followed suit with tax reforms that shifted taxation from labour to carbon and energy. Over the years, CO2 and energy taxes have gradually been raised, so that in Europe taxes of more than 25 billion EUR a year have been shifted. In this book, these experiences with carbon‐energy taxation, along with tax‐shifting programmes lowering other taxes, are examined in detail. Availability of unique and original data, including sector‐specific energy prices and taxes, as well as the use of advanced statistical techniques, such as co‐integration analysis and panel‐regression techniques along with the time‐series‐estimated macro‐economic model – Energy–Environment–Economy model for Europe (E3ME), makes this analysis truly comprehensive. Results of the analysis show that even though the taxes implemented have been relatively modest, they have, in the countries examined, contributed to a reduction in the emissions of greenhouse gases of up to 7 per cent, while for five of the countries a small increase in economic activity is recorded as a result of the tax‐shifting, with other impacts separated out. Due to concerns for competitiveness, the largest industrial emitters of greenhouse gases within Europe continue to benefit from exemptions from the carbon‐energy taxation schemes, as outside Europe there are major emitters without any economic penalties attached to greenhouse gas emissions. On basis of the lessons from carbon‐energy taxation learned in Europe, the editors of the book indicate how carbon‐energy taxation could usefully be combined with emissions trading, and they discuss how the recommendations from IPCC for a gradually escalating carbon price could be accomplished while preventing carbon leakage.Less

Changing Governance of Local Economies: Responses of European Local Production Systems

Colin Crouch, Patrick Le Galès, Carlo Trigilia, and Helmut Voelzkow (eds)

This book features case studies on national patterns of local production systems, focusing on small- and medium-sized enterprises (SMEs) in France, Germany, Italy, and the UK. It is divided into ... More

This book features case studies on national patterns of local production systems, focusing on small- and medium-sized enterprises (SMEs) in France, Germany, Italy, and the UK. It is divided into three parts. Part I analyses the two cases that dominated the initial, 1980s industrial district literature: Emilia-Romagna and Baden Wurttemberg; and the machinery industry. Part II focuses on pre-crisis, large-firm, Fordist specialization. Part III presents examples of new industries where SME clusters are important: the biopharmaceutical industries around Oxford, the media sector in Cologne, information technology in Pisa, and computer technologies in Grenoble.Less

Children of Austerity: Impact of the Great Recession on Child Poverty in Rich Countries

Bea Cantillon, Yekaterina Chzhen, Sudhanshu Handa, and Brian Nolan (eds)

The 2008 financial crisis triggered the worst global recession since the Great Depression. Many OECD countries responded to the crisis by reducing social spending. Through eleven diverse country case ... More

The 2008 financial crisis triggered the worst global recession since the Great Depression. Many OECD countries responded to the crisis by reducing social spending. Through eleven diverse country case studies (Belgium, Germany, Greece, Hungary, Ireland, Italy, Japan, Spain, Sweden, United Kingdom, and the United States), this volume describes the evolution of child poverty and material well-being during the crisis, and links these outcomes with the responses by governments. The analysis underlines that countries with fragmented social protection systems were less able to protect the incomes of households with children at the time when unemployment soared. In contrast, countries with more comprehensive social protection cushioned the impact of the crisis on households with children, especially if they had implemented fiscal stimulus packages at the onset of the crisis. Although the macroeconomic ‘shock’ itself and the starting positions differed greatly across countries, while the responses by governments covered a very wide range of policy levers and varied with their circumstances, cuts in social spending and tax increases often played a major role in the impact that the crisis had on the living standards of families and children.Less

China and Cybersecurity: Espionage, Strategy, and Politics in the Digital Domain

Jon R. Lindsay, Tai Ming Cheung, and Derek S. Reveron (eds)

Chinese cyber espionage is commonly portrayed in the West as a major threat to economic and national security. From China’s perspective, the United States poses a major cyberthreat to other countries ... More

Chinese cyber espionage is commonly portrayed in the West as a major threat to economic and national security. From China’s perspective, the United States poses a major cyberthreat to other countries because of its outsized influence over the Internet, willingness to use cyber weapons against its adversaries, and exploitation of major firms like Microsoft and Google for intelligence. Mistrust and confusion have complicated Internet politics on both sides of the Pacific. To get beyond the hype, an understanding of China and cybersecurity requires a combination of international and interdisciplinary perspectives. This book brings a balance of technical, political, economic, legal, and strategic analysis by authors from China, the United States, Canada, and the United Kingdom. Even though the contributors to this volume do not always agree with one another—an important point in itself—they reveal underlying political and economic dynamics that will remain relevant even as new facts and opinions emerge in a fast-changing domain. This volume contributes substantively to our understanding of China and cybersecurity, both complex topics on their own, by exploring how China’s domestic political and economic system shapes its cyber activities. The collaboration also stands as an example of how Chinese and Western experts can work together to improve trust and understanding in an area of great mutual concern.Less

China’s Technological Catch-Up Strategy: Industrial Development, Energy Efficiency, and CO2 Emissions

Michael T. Rock and Michael Toman

Since 1978 China has been remarkably successful in reducing the CO2 intensity of GDP and industry. The book shows how China’s industrial and technology policies affecting four energy-intensive ... More

Since 1978 China has been remarkably successful in reducing the CO2 intensity of GDP and industry. The book shows how China’s industrial and technology policies affecting four energy-intensive industries—aluminum, cement, iron and steel, and paper—have transformed industrial structure within these industries and technological capabilities within enterprises in these industries, and how both types of changes have put each of these industries on substantially lower CO2 emissions trajectories. These conclusions are demonstrated through four lines of analysis. The first is several detailed enterprise-level case studies to document the link between enterprise-level investments in technological learning and CO2 intensity. The second is econometric analysis using a KLEM-type model of energy intensity and a large database of enterprises to formally test the hypothesis that enterprises’ own investments in technology learning contributed to lower energy intensities. Third is a comparison of China’s experience in one industry, cement, to that industry in Indonesia, where concern for technological catch-up and energy efficiency has been less pressing. Finally, the book provides industry-wide estimates of CO2 savings from specific technological innovations in each of the four industries and compares them to a business-as-usual scenario. The estimates show that CO2 emissions in these four industries were 45% lower than they would have been in the absence of the technological changes identified. If these CO2 savings had not occurred, the world’s CO2 emissions would have been 10% higher in 2010.Less

Competition Policy in the EU: Fifty Years on from the Treaty of Rome

Xavier Vives (ed.)

The book takes stock and looks ahead on the development and implementation of competition policy in the European Union (EU) fifty years after the Treaty of Rome. Competition policy has emerged as a ... More

The book takes stock and looks ahead on the development and implementation of competition policy in the European Union (EU) fifty years after the Treaty of Rome. Competition policy has emerged as a key policy in the EU, since today there is consensus that competition is the driving force for economic efficiency and the welfare of citizens. In this period, merger control has been introduced (in 1989) and reformed (in 2004); case law has established Articles 81 and 82 as fundamental tools to control and prevent anti-competitive behavior; state aid control has consolidated and evolved towards a more economic approach; and the authority of the EC and the judicial review of the Court of First Instance (CFI) and the European Court of Justice (ECJ) are firmly established. The book provides an account of the more economic approach to competition policy and reflects the main areas of interest, learning, open issues, and progress in the area: the design of competition policy institutions; the evolution of the implementation of competition policy and its convergence or divergence with US practice; restrictive practices, cartels, abuse of dominance, merger control, state aids, the interaction of competition policy, and regulation; and studies its application to telecoms, banking, and energy sectors. All the chapters are covered by top specialists combining theoretical with practical knowledge and discussing the economic underpinnings of the application of the law and the main cases.Less

The Concrete Euro: Implementing Monetary Policy in the Euro Area

Paul Mercier and Francesco Papadia (eds)

This book gives an analytical account of the technology for the monetary policy implementation of the European Central Bank. The issue is looked at from different perspectives, corresponding to ... More

This book gives an analytical account of the technology for the monetary policy implementation of the European Central Bank. The issue is looked at from different perspectives, corresponding to different chapters. The first chapter addresses the issue from a theoretical point of view, taking both a positive and a normative approach and considering both normal and stressed conditions. The stabilization of a short-term rate of interest in normal conditions and the countering of liquidity risk in a financial crisis are considered the objectives of monetary policy implementation. The approach in the second chapter is historical, presenting a narrative of the creation of the framework for the implementation of monetary policy in the euro area. The analysis turns to empirical tools in the third chapter, where the experience of actually working with the technology for monetary policy implementation is dealt with. Finally a forward-looking approach is taken in the last, short chapter, which attempts to identify the future challenges of monetary policy implementation. Each chapter, except for the fourth, is written by different authors but both the editors and the authors have strived to present an organic analysis of the issue in which the different approaches complement each other. The book is by no means an official account, but could definitely not have been written had the authors not been so closely associated with the implementation of monetary policy in the euro area.Less

Cracking the China Conundrum: Why Conventional Economic Wisdom is Often Wrong

Yukon Huang

China is an abnormal economic power. No country has grown so rapidly for so long and in such an extreme manner. Media coverage has soared because China’s rise is now challenging the world’s balance ... More

China is an abnormal economic power. No country has grown so rapidly for so long and in such an extreme manner. Media coverage has soared because China’s rise is now challenging the world’s balance of power. Yet one is as likely to read about a possible financial crisis as its emergence as the world’s largest economy. But much of the analysis is flawed, as are many of the policy prescriptions. China’s unbalanced growth, for example, is seen as a risk but in reality is a virtue. Its soaring debt levels are perceived as signaling a financial collapse but can also be interpreted as evidence of financial deepening. Its trade and foreign investment initiatives are blamed for exacerbating America’s economic decline, even though there is little connection between the two. The factors that have influenced broader concerns, such as corruption and political liberalization, are often misunderstood. And Beijing’s foreign policies in Asia need to be deciphered and dealt with differently if there is to be any hope of moderating geopolitical tensions with the United States and its regional allies. Explaining why there is such extreme variation in views and why the conventional wisdom is so often wrong is the theme of this book. Observers see China’s rise through multiple lenses. Geopolitical differences in values and mistrust is part of the explanation, but differing analytical frameworks, along with China’s size and complexity, are the major reasons. Understanding these differences is critical to forging more constructive relations between China and the rest of the world.Less

Cracking the Emerging Markets Enigma

G. Andrew Karolyi

This book develops a new practical framework to delineate and measure the fundamental risks of investing in emerging markets. In so doing, it defines clearly what an emerging market represents: ... More

This book develops a new practical framework to delineate and measure the fundamental risks of investing in emerging markets. In so doing, it defines clearly what an emerging market represents: namely, an undercapitalized and thus not-fully realized growth opportunity with complexities. These complexities are what inhibit global investors from helping to remedy the undercapitalization problem and they reflect institutional fragility that stems from market capacity constraints, operational inefficiencies, foreign investibility restrictions, corporate opacity, limits to legal protections, and political instability. The book’s practical aspect stems from the creation of standardized indexes associated with each of these fundamental risks that are built applying well-known statistical techniques to data from hundreds of rigorous academic research studies and publicly available sources on relevant country attributes. To validate the practical usefulness of these indexes of fundamental risks in emerging markets, the book offers out-of-sample forecast evidence for emerging-market portfolio holdings of global investors and even for portfolio flows during 2013, when an announced shift in US Federal Reserve policies inspired significant global portfolio outflows from many emerging markets.Less

The Customs Union Issue

Jacob Viner

Paul Oslington (ed.)

This text was originally published in 1950 by the Carnegie Endowment for International Peace. It sets the framework for the contemporary debate over the benefits or otherwise of preferential trading ... More

This text was originally published in 1950 by the Carnegie Endowment for International Peace. It sets the framework for the contemporary debate over the benefits or otherwise of preferential trading agreements such as the European Union, NAFTA, and APEC. The book developed the concepts of trade creation and diversion in this work as the author pioneered the analysis of the global politics of trade agreements. This revival of this classic work includes an introduction that places this book in the context of the author's intellectual development and the economic and political situation of the post-WWII world. The introduction also traces the reception of the work and discusses its continuing relevance for international economists, political scientists, and historians.Less

The Dollarization Debate

Dominick Salvatore, James W. Dean, and Thomas D. Willett (eds)

This book presents a compilation of papers that explore the dollarization debate. The prevailing view is that all exchange rate regimes have benefits and costs, which will vary across countries. The ... More

This book presents a compilation of papers that explore the dollarization debate. The prevailing view is that all exchange rate regimes have benefits and costs, which will vary across countries. The book is divided into four parts. Part I presents a general analysis of the dollarization debate. Part II focuses on the political economy. Part III looks into the dollarization debate in North America. Part IV considers the case for dollarization in Latin America.Less

Economic Aspects of Genocides, Other Mass Atrocities, and Their Preventions

Charles H. Anderton and Jurgen Brauer (eds)

Genocide has received extensive scholarly, policy, and practitioner attention. Missing is the contribution of economists to understand and prevent such atrocities. This book—the first of its ... More

Genocide has received extensive scholarly, policy, and practitioner attention. Missing is the contribution of economists to understand and prevent such atrocities. This book—the first of its kind—assembles contributions by forty-one accomplished scholars to examine economic aspects of genocides, other mass atrocities, and their prevention. The book’s twenty-eight chapters include numerous case studies (e.g., California’s Yana people, Australia’s Aborigines peoples, Stalin’s killing of Ukrainians, Belarus, the Holocaust, Rwanda, DR Congo, Indonesia, Pakistan, Colombia, Mexico’s drug wars, and the targeting of suspects during the Vietnam War); probing literature reviews; novel work based on country-specific datasets; and intriguing perspectives on demographic, gendered, and economic-class aspects of genocides. Replete with research- and policy-relevant findings, new insights are derived from microeconomics, macroeconomics, behavioral economics, law and economics, political economy, development economics, industrial organization, and identity economics. Analytical approaches include constrained optimization theory, game theory, and sophisticated statistical work in data mining, econometrics, and forecasting. A foremost finding of the book concerns atrocity architects’ purposeful, strategic use of violence, including how they manipulate nonrational proclivities among ordinary people to sway their participation in mass murder. Further, the book shows how well-intended prevention efforts can backfire and increase violence, wrong postgenocide design can reinforce exclusion of vulnerable peoples, and businesses can become complicit in genocide. Along with the importance of healthy economic opportunities for genocide prevention, the book shows why new genocide prevention laws and institutions must be based on reformulated incentives that consider insights from law and economics, behavioral economics, and collective action economics.Less

The Economic Development of Latin America since Independence

Luis Bértola and José Antonio Ocampo

Latin America is attracting increasing interest due to the strong economic performance of the last decade and to the political changes that are taking place. This book gives a unique, comprehensive, ... More

Latin America is attracting increasing interest due to the strong economic performance of the last decade and to the political changes that are taking place. This book gives a unique, comprehensive, and up to date view of Latin America economic development over the two centuries since Independence. It considers Latin American economies within the wider context of the international economy, and covers economic growth, international trade, capital flows, and trends in inequality and human development. With chapters that cover different eras, it traces the major developments of Latin American countries and offers a novel and coherent interpretation of the economic history of the region. It combines a wealth of original research, new perspectives, and empirical information to provide a synthesis of the growing literature that both complements and extends previous studies.Less

Economic Elites, Crises, and Democracy: Alternatives Beyond Neoliberal Capitalism

Andres Solimano

The book examines critical issues of contemporary capitalism and identifies the basis for progressive reforms in the direction of greater economic democracy, in both the developed and developing ... More

The book examines critical issues of contemporary capitalism and identifies the basis for progressive reforms in the direction of greater economic democracy, in both the developed and developing countries. The first part focuses on the rise of economic elites and the super-rich in countries such as the US, UK, France, Continental Europe, Russia, China, Brazil, India, Latin American countries, and emerging economies, the evolving nature of entrepreneurship, the corporation’s technostructure, and the fragmentation of the middle class and marginalization of labor under neoliberal capitalism. The second part deals with financial crises, examining concrete episodes of crisis from the nineteenth to the twenty-first centuries in the core and periphery of the world economy. It also reviews some alternative theories to explain their causes and consequences, and considers “austerity policies,” in Europe as costly approaches to dealing with financial crises. The third part examines patterns of international mobility—of entrepreneurs, capital, knowledge elites, and labor—along with the rise of global social movements and diasporas in advanced and developing nations. Part four examines the concept, modalities, and applications of economic democracy, both in history and currently, to reform twenty-first-century global and national capitalism and highlights area of application of economic democracy regarding employees participation in the workplace, the democratization in the access to productive wealth, voice of labor in austerity programs, and fair distribution of the rents of natural resources. The book also cautions on the disruptive effects of austerity in Europe and the limits of a “neoliberal solution” to the crisis focused on dismantling the welfare state and undertake widespread privatization and stress the need to reform institutions such as the IMF and Central Banks.Less

Economic Inequality and News Media: Discourse, Power, and Redistribution

Andrea Grisold and Paschal Preston (eds)

Despite the rediscovery of the inequality topic by economists and other social scientists in recent times, relatively little is known about how economic inequality is mediated to the wider public. ... More

Despite the rediscovery of the inequality topic by economists and other social scientists in recent times, relatively little is known about how economic inequality is mediated to the wider public. That is precisely where this book steps in: it examines how mainstream news media discuss, respond to, and engage with such important trends. The book addresses significant ‘blind spots’ in the two disciplinary areas most related to this book—political economy and media/journalism studies. Firstly, key issues related to economic inequalities tend to be neglected in media and journalism studies field. Secondly, mainstream economics have paid relatively little attention to the evolving scope and role of mediated communication.Less