The real effective exchange rate (REER) is the most commonly used measure for assessing international competitiveness. We develop a methodology to estimate the REER that incorporates two distinctive elements that are not considered in the current literature and apply it to the Mediterranean Quartet (MQ) of Greece, Italy, Portugal, and Spain, whose common pattern of real appreciation has created concern in policy and academic circles. The two elements that we add to the existing literature are (i) product heterogeneity when identifying each country's international competitors and their weights and (ii) a comprehensive treatment of services exports. Our refined measure suggests a modest reduction in the observed REER gap between the MQ countries and the other euro area countries. In particular, considering product heterogeneity and services exports implies a lower real appreciation from 1998 to 2006 on the order of 2-3 percent for all MQ countries. These are difference-in-difference estimates relative to the results obtained for the rest of the euro area countries using the same methodology.
Americans choose from a dizzying array of schools, loosely categorized as "public" and "private." How did these distinctions emerge, and what do they tell us about the relationship in the United States between public authority and private enterprise? Challenged by the rise of Catholic and other parochial schools in the nineteenth century, states sought to protect the public school monopoly through regulation. Ultimately, however, Robert N. Gross shows how the public policies that resulted produced a stable educational marketplace, where choice flourished.
The Government of Pakistan strongly supports public–private partnership (PPP) initiatives. From 1990 to 2019, Pakistan witnessed 108 financially closed PPP projects, with a total investment of approximately $28.4 billion. About 88% of these projects are in the energy sector, attracting more than $24.7billion, followed by investments in the port sector. In early 2021, Parliament approved the amendments to the 2017 PPP Law, enacting the Public Private Partnership Authority (Amendment) Act 2021. This further strengthens the enabling legal and regulatory framework for developing and implementing PPPs, thereby promoting private sector investment in public infrastructure and related services.
List of Tables and Figures; List of Acronyms; Acknowledgements; Introduction: Thinking Big Again; Chapter 1: From Crisis Ideology to the Division of Innovative Labour; Chapter 2: Technology, Innovation and Growth; Chapter 3: Risk-Taking State: From 'De-risking' to 'Bring It On!'; Chapter 4: The US Entrepreneurial State; Chapter 5: The State behind the iPhone; Chapter 6: Pushing vs. Nudging the Green Industrial Revolution; Chapter 7: Wind and Solar Power: Government Success Stories and Technology in Crisis; Chapter 8: Risks and Rewards: From Rotten Apples to Symbiotic Ecosystems; Chapter 9: So.
Companies like Google and Apple heralded the information revolution, and opened the doors for Silicon Valley to grow into an engine of dazzling technological development, that today champions the free market that engendered it against the supposedly stifling encroachment of government regulation. But is that really the case? In this sharp and controversial expose, The Entrepreneurial State, Mariana Mazzucato debunks the pervasive myth that the state is a laggard, bureaucratic apparatus at odds with a dynamic private sector. Instead she reveals in case study after case study that, in fact, the opposite is true: the state is our boldest and most valuable innovator. The technology revolution would never have happened without support from the US Government. The breakthroughs--GPS, touch-screen displays, the Internet, and voice-activated AI--that enabled legendary Apple products to be smart successes were, in fact, all developed with support from the state. Mazzucato reveals that many successful entrepreneurs like Steve Jobs integrated state-funded technological developments into their products and then reaped the rewards themselves. The algorithm behind Google’s search engine was initially sponsored by NASA. And 75% of NMEs--new, often-ground-breaking drugs not derivative of existing substances--trace their research to National Institutes of Health (NIH) labs. The American government, it turns out, has been enormously successfully at stimulating scientific and technological advancement. But by 2009, just some months following the Great Recession--the US government, constrained by austerity measures, started disinvesting from its holdings in research fields like health, energy, electronics. The trend is likely to continue, and the repercussions of these policies could wreak havoc on our technology and science sectors. But Mazzucato remains optimistic. If managed correctly, state-sponsored development of Green technology, for instance, could be as efficacious as suburbanization & post-war reconstruction in the mid-twentieth century, and unleash a wide-spread golden age in the global economy. The limitations of natural resources and the threat of global warming could become the most powerful driver of growth, employment, and innovation within just one generation--but to be successful, the Green Revolution will depend on the initiatives of proactive governments. By not admitting the State’s role in economic and technological progress, we are socializing only the risks of investing in innovation, while privatizing the rewards in the hands of only a few businesses. This, Mazzucato argues, hurts both future of innovation and equity in modern-day capitalism. For policy-makers, Silicon Valley start-up founders, venture-capitalists, and economists alike, The Entrepreneurial State stirs up much needed debate and offers up a brilliant corrective to spurious beliefs: to thrive, American businesses have always and will need to depend on the support of our country’s most audacious entrepreneur, the state.
How private groups increasingly set public policy and regulate lives—with little public knowledge or attention. From accrediting doctors and lawyers to setting industry and professional standards, private groups establish many of the public policies in today’s advanced societies. Yet this important role of nongovernmental groups is largely ignored by those who study, teach, or report on public policy issues. Public Policymaking by Private Organizations sheds light on policymaking by private groups, which are not accountable to the general public or, often, even to governments. This book brings to life the hidden world of policymaking by providing an overview of this phenomenon and in-depth case studies in the areas of finance, food safety, and certain professions. Far from being merely self regulation or self-governance, policymaking by private groups, for good or ill, can have a substantial impact on the broader public—from ensuring the safety of our home electrical appliances to vetting the credit-worthiness of complex financial instruments in the run-up to the 2008 financial crisis. From nonprofit associations to multinational corporations, private policymaking groups are everywhere. They certify professionals as competent, establish industry regulations, and set technical and professional standards. But because their operations lack the transparency and accountability required of governmental bodies, these organizations comprise a policymaking territory that is largely unseen, unreported, uncharted, and not easily reconciled with democratic principles. Anyone concerned about how policies are made—and who makes them—should read this book.
Governance, as defined by the World Bank in its 1992 report, Governance and Development, is the manner in which power is exercised in the management of a country's economic and social resources for development. The report deemed it is within the Bank's mandate to focus on the following: -the process by which authority is exercised in the management of a country's economic and social resources -the capacity of governments to design, formulate, and implement policies and discharge functions. Also available: Governance: The World Bank's Experience (ISBN 0-8213-2804-2) Stock No. 12804.
Out there somewhere is a buyer looking to buy a business like yours. So if you're ready to sell, make sure you protect your interests and maximize your profit with this all-in-one guide.
Exploring how cross-sector collaboration can solve seemingly intractable societal problems Many people tend to think of the public, non-profit and private sectors as being distinctive components of the economy and broader society—each with its own missions and problems to address. This book describes how the three sectors can work together toward common purposes, accomplishing much more than if they work alone. With the nation reeling from multiple challenges, more than ever the United States needs these sectors to collaborate to address what might seem to be intractable problems. Cross-sector collaborations and partnerships are more crucial than in the past as the country tries to recover from the economic, health, and broad social dislocations caused by the COVID-19 pandemic. At a time when trust in institutions, both public and private, is at an all-time low, cooperation among the sectors can be a confidence-inspiring approach to addressing public problems. This book reviews the state of cross-sector collaborations, identifies emerging practices, and offers a range of perspectives from experts in the field. Practitioners show how cooperation among sectors is relevant to their core missions. Scholars from a wide range of disciplines discuss both the broad and specific concepts that advance understanding of cross-sector collaboration. At a time when the United States must recover from and address new challenges, the book shows how cross-sector collaborations can help ensure a brighter future. Its core conclusions should be of particular interest to leaders in each of the broad sectors, as well as educators and students at both the undergraduate and graduate level.
