This wide-ranging collection of previously published articles by Raymond Vernon reflects a portion of the diverse subjects on which he has worked during his career. In the past 20 years, the author has pioneered the study of two major economic institutions which have played important roles in today's global economy: the multinational corporation and the state-owned enterprise. His recent thoughts on these subjects are well-represented in this volume. Co-published with the Harvard Center for International Affairs.
This proceedings volume provides current research on emerging issues in business, economics and finance in the global economy with particular emphasis on Eastern Europe. Featuring selected papers from the 2017 International Economics Conference in Sibiu (IECS) organized by the Lucian Blaga University of Sibiu, Romania, the contributing chapters consider new business models, theories, practices and instruments from advanced and emerging economies in the context of recent global trends. After over 20 years of increasing openness and liberation of the world economy, recent events in regions such as Europe, USA and Asia have created challenges to the idea of globalization and integration. There is a delay between the real-world economic changes and the reflection of such changes in the economic research literature. The 2017 IECS conference and the enclosed papers aim to fill this gap in the study of globalization, covering diverse topics such as business administration, sustainability, corporate social responsibility, finance, accounting, tourism and business informatics.
Our intuition on how the world works could well be wrong. We are surprised when new competitors burst on the scene, or businesses protected by large and deep moats find their defenses easily breached, or vast new markets are conjured from nothing. Trend lines resemble saw-tooth mountain ridges. The world not only feels different. The data tell us it is different. Based on years of research by the directors of the McKinsey Global Institute, No Ordinary Disruption: The Four Forces Breaking all the Trends is a timely and important analysis of how we need to reset our intuition as a result of four forces colliding and transforming the global economy: the rise of emerging markets, the accelerating impact of technology on the natural forces of market competition, an aging world population, and accelerating flows of trade, capital and people. Our intuitions formed during a uniquely benign period for the world economy -- often termed the Great Moderation. Asset prices were rising, cost of capital was falling, labour and resources were abundant, and generation after generation was growing up more prosperous than their parents. But the Great Moderation has gone. The cost of capital may rise. The price of everything from grain to steel may become more volatile. The world's labor force could shrink. Individuals, particularly those with low job skills, are at risk of growing up poorer than their parents. What sets No Ordinary Disruption apart is depth of analysis combined with lively writing informed by surprising, memorable insights that enable us to quickly grasp the disruptive forces at work. For evidence of the shift to emerging markets, consider the startling fact that, by 2025, a single regional city in China -- Tianjin -- will have a GDP equal to that of the Sweden, of that, in the decades ahead, half of the world's economic growth will come from 440 cities including Kumasi in Ghana or Santa Carina in Brazil that most executives today would be hard-pressed to locate on a map. What we are now seeing is no ordinary disruption but the new facts of business life -- facts that require executives and leaders at all levels to reset their operating assumptions and management intuition.
The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD
People around the globe are more connected to each other than ever before. Information and money flow more quickly than ever. Goods and services produced in one part of the world are increasingly available to the rest of the world. International travel is more frequent. International communication is commonplace. This phenomenon has been titled globalisation. The Era of Globalisation is fast becoming the preferred term for describing the current times. Just as the Depression, the Cold War Era, the Space Age, and the Roaring 20's are used to describe particular periods of history, globalisation describes the political, economic, and cultural atmosphere of today. While some people think of globalisation as primarily a synonym for global business, it is much more than that. not exist also allow social activists, labour organisers, journalists, academics, and many others to work on a global stage. This book brings together a wide range of expertise addressing these issues from the perspective of authors from around the world. Contents: Preface; From Westernisation to the Whirl of Globality: Conceptualising Globalisation and its Effects on Local Societies; Globalisation and Competitiveness: A Comparative Analysis of Selected Developing Countries vs. Industrial Countries; Globalisation, Marginalisation and Growth in Emerging Market Economies; Globalisation of Real Estate Markets and Urban Development in Central Europe; The Challenges of Globalisation: The Role of the World Bank; The Meaning and Limitation of Public Life under Global Capitalism; Violence and State (Re)Formation in the African Context: Global and Local Aspects of Crisis and Change; State Ideology, Global Economy and Coping Strategies; Index.
"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
Rethinking Global Political Economy contains incisive analysis of history, linguistics, class, culture, empirical data and normative concerns. This important volume presents innovative approaches to fundamental issues in global political economy. Together they provide multiple arguments and avenues for rethinking global political economy in a time of turmoil and system transformation. It will appeal to those interested in seeing new perspectives and healthy heterodoxy in the study of political economy.
Economics is about understanding the rational behaviour of economic agents (households, firms, industries and government) in their decisions to achieve best outcomes of their goals and aspirations. They collectively converge to achieve the utmost economic and social benefits for all in the country in terms of economic growth and development. Economic growth and development occur through efficient use of available resources to meet effective demand and social needs. The challenge that countries are facing is proper application of appropriate policy mix to optimize the opportunities of increasingly interdependent global economic landscape. For emerging economies, a multiple sector strategy that propels economic transformation is crucial. This needs to be predicated on robust macroeconomic policy framework that aligns with global production and consumption activities to drive economic growth process for achieving sustainable development.
This new volume presents innovative approaches to the fundamental issues of the global political economy, in particular post Cold War development, analyses of capital and negative aspects of globalization.
Emerging Markets and the Global Economy investigates analytical techniques suited to emerging market economies, which are typically prone to policy shocks. Despite the large body of emerging market finance literature, their underlying dynamics and interactions with other economies remain challenging and mysterious because standard financial models measure them imprecisely. Describing the linkages between emerging and developed markets, this collection systematically explores several crucial issues in asset valuation and risk management. Contributors present new theoretical constructions and empirical methods for handling cross-country volatility and sudden regime shifts. Usually attractive for investors because of the superior growth they can deliver, emerging markets can have a low correlation with developed markets. This collection advances your knowledge about their inherent characteristics. Foreword by Ali M. Kutan Concentrates on post-crisis roles of emerging markets in the global economy Reports on key theoretical and technical developments in emerging financial markets Forecasts future developments in linkages among developed and emerging economies
