This book examines, theoretically and empirically, the key aspects and differences of economic growth. It provides a comprehensive investigation of the numerous features of development in transition countries, covering the last two decades, from the fall of the Berlin Wall in 1989 to the current financial crisis.
"It will be of particular interest to researchers and policy makers working in the fields of competitiveness and growth in the context of economic and monetary integration as well as to academics of European studies in general."--BOOK JACKET.
This volume brings together three areas of interest: the rule-based approach, the entrepreneur, and Japan as an empirical application. It highlights the advantages of the rule-based approach for economic analysis by linking different methodological underpinnings. Using these, the author exemplifies how rule-based economics allows a systematic analysis of the entrepreneur as the key figure in bringing about economic change and diversity. The book includes an empirical methodology for applied research in rule-based economics, which it puts to the test in an empirical study of entrepreneurship in contemporary Japan. The choice of entrepreneurship and Japan showcases the integrative power that rule-based economics brings to further breaking a theoretical deadlock and to analytically capturing a very particular economy investigated very little so far. By offering a body of new and original research, the monograph shows how the idea of entrepreneurship as a rule helps to resolve the Schumpeter-Kirzner divide and to develop an empirical approach to the determinants of entrepreneurial activity.
This book is based on the contributions that have been brought to the international conference "Impulses from Salzburg" in May 2007. The symposium gathered scholars from various fields to discuss ideas, rather than long academic theories, within the context of the discourse on labour, work, and employment. In particular, the contributions deal with the concept and ethics of work, with policy implications of solutions to labour problems in the context of the European Union, with the future of work and with alternative forms of work as a response to the challenge of unemployment.
This economic survey examines the key challenges facing the US economy including fiscal sustainability and budgetary discipline, fiscal relations across levels of government, adjustment of the current account, and labour market issues such as trade ...
In the 1990s, institutional and evolutionary economics emerged as one of the most creative and successful approaches in the modern social sciences. This timely reader gathers together seminal contributions from leading international authors in the field of institutional and evolutionary economics including Eileen Appelbaum, Benjamin Coriat, Giovanni Dosi, Sheila C. Dow, Bengt-Åke Lundvall, Uskali Mäki, Bart Nooteboom and Marc R. Tool. The emphasis is on key concepts such as learning, trust, power, pricing and markets, with some essays devoted to methodology and others to the comparison of different forms of capitalism. An extensive introduction places the contributions in the context of the historical and theoretical background of recent developments in economics and the social sciences. Essential reading for lecturers, researchers, graduates and advanced undergraduates in economics, business studies and sociology, this diverse yet complementary collection of essays will also find a broad readership amongst those wanting to understand the manifest changes apparent within modern socio-economic systems.
Originally published in 1975, Equality and Efficiency: The Big Tradeoff is a very personal work from one of the most important macroeconomists of the last hundred years. And this new edition includes "Further Thoughts on Equality and Efficiency," a paper published by the author two years later. In classrooms Arthur M. Okun may be best remembered for Okun's Law, but his lasting legacy is the respect and admiration he earned from economists, practitioners, and policymakers. Equality and Efficiency is the perfect embodiment of that legacy, valued both by professional economists and those readers with a keen interest in social policy. To his fellow economists, Okun presents messages, in the form of additional comments and select citations, in his footnotes. To all readers, Okun presents an engaging dual theme: the market needs a place, and the market needs to be kept in its place. As Okun puts it: Institutions in a capitalist democracy prod us to get ahead of our neighbors economically after telling us to stay in line socially. This double standard professes and pursues an egalitarian political and social system while simultaneously generating gaping disparities in economic well-being. Today, Okun's dual theme feels incredibly prescient as we grapple with the hot-button topic of income inequality. In his foreword, Lawrence H. Summers declares: On what one might think of as questions of "economic philosophy," I doubt that Okun has been improved on in the subsequent interval. His discussion of how societies rely on rights as well as markets should be required reading for all young economists who are enamored with market solutions to all problems. With a new foreword by Lawrence H. Summers
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
Many Americans believe three things about jobs and the environment: that the implementation of environmental protection measures has created ongoing, widespread unemployment; that it has caused large numbers of plant shutdowns and layoffs in manufacturing; and that it has led many U.S. firms to flee to developing countries with lax environmental regulations. Virtually all economists who have studied the issue agree that each of these propositions is false.In The Trade-Off Myth, economist Eban Goodstein provides an in-depth examination of the deep-seated, but ultimately mistaken, American belief in a widespread jobs-environment trade-off. Remarkably, his is the first book to state unambiguously the truth about jobs and the environment. Goodstein offers a readable and accessible analysis of the labor impacts of environmental regulation, as he: considers the roots and staying power of misperceptions regarding job security and environmental regulation analyzes various models used to predict employment impacts, and explains how changes in assumptions can drastically change predicted outcomes lists and debunks, myth-by-myth, widely held perceptions about the impacts of environmental regulation on jobs examines localized hardships caused by environmental protection measures within specific industries and regions, and considers what can be done to mitigate those impacts explores the revisionist view that environmental protection measures can actually create jobs looks at jobs-environment issues that are likely to emerge as we attack the problem of global warming.The Trade-Off Myth presents in clear, accessible language the consensus of economists who have examined the jobs-environment issue, and offers the first comprehensive look at the truth behind the myths that pervade discourse on environmental regulation. It will be essential reading for environmentalists, concerned citizens, policymakers, public officials, and anyone involved with debates over strengthening environmental regulations.