This book presents a selection of contributions on the timely topic of structural reforms in Western economies, written by experts from central banks, the International Monetary Fund, and leading universities. It includes latest research on the impacts of structural reforms on the market economy, especially on the labor market, and investigates the results of collective bargaining in theory and practice. The book also comprises case studies of structural reforms. A literature survey on the topic serves as a valuable source for further research. The book is written by and targeted at both academics and policy makers.
In this candid book, Japan's former top financial diplomat asserts the urgent need for wholesale structural reform to revitalize the long-stagnant Japanese economy. Eisuke Sakakibara, whose influence over global currency markets earned him the nickname of Mr. Yen, envisions a social and economic revolution that encompasses all sectors of Japanese society. Sakakibara. Profitable investment opportunities are hard to find in the dysfunctional corporate sector, where costs are high and earnings continue to decline. The country's entrenched power elite - the Liberal Democratic Party, the bureaucracy, and vested interest groups - are threatened by reform efforts. It will be difficult to restore economic health to Japan until its political leaders are able to break the grip of this iron triangle and implement aggressive, widespread reforms.
This innovative volume will be an excellent resource for political scientists specialized in political economy and industrial relations, labour economists and sociologists as well as policy practitioners and corporate governance specialists. Moreover,
This volume examines the impact on economic performance of structural policies-policies that increase the role of market forces and competition in the economy, while maintaining appropriate regulatory frameworks. The results reflect a new dataset covering reforms of domestic product markets, international trade, the domestic financial sector, and the external capital account, in 91 developed and developing countries. Among the key results of this study, the authors find that real and financial reforms (and, in particular, domestic financial liberalization, trade liberalization, and agricultural liberalization) boost income growth. However, growth effects differ significantly across alternative reform sequencing strategies: a trade-before-capital-account strategy achieves better outcomes than the reverse, or even than a "big bang"; also, liberalizing the domestic financial sector together with the external capital account is growth-enhancing, provided the economy is relatively open to international trade. Finally, relatively liberalized domestic financial sectors enhance the economy's resilience, reducing output costs from adverse terms-of-trade and interest-rate shocks; increased credit availability is one of the key mechanisms.
In the last ten to fifteen years, profound structural reforms have moved Latin America and the Caribbean from closed, state-dominated economies to ones that are more market-oriented and open. Policymakers expected that these changes would speed up growth. This book is part of a multi-year project to determine whether these expectation have been fulfilled. Focusing on technological change, the impact of the reforms on the process of innovation is examined. It notes that the development process is proving to be highly heterogenous across industries, regions and firms and can be described as strongly inequitable. This differentiation that has emerged has implications for job creation, trade balance, and the role of small and medium sized firms. This ultimately suggests, amongst other things, the need for policies to better spread the use of new technologies.
A Brookings Institution Press with the Thomas B. Fordham Institute and the Center for American Progress publication America's fragmented, decentralized, politicized, and bureaucratic system of education governance is a major impediment to school reform. In this important new book, a number of leading education scholars, analysts, and practitioners show that understanding the impact of specific policy changes in areas such as standards, testing, teachers, or school choice requires careful analysis of the broader governing arrangements that influence their content, implementation, and impact. Education Governance for the Twenty-First Century comprehensively assesses the strengths and weaknesses of what remains of the old in education governance, scrutinizes how traditional governance forms are changing, and suggests how governing arrangements might be further altered to produce better educational outcomes for children. Paul Manna, Patrick McGuinn, and their colleagues provide the analysis and alternatives that will inform attempts to adapt nineteenth and twentieth century governance structures to the new demands and opportunities of today. Contents: Education Governance in America: Who Leads When Everyone Is in Charge?, Patrick McGuinn and Paul Manna The Failures of U.S. Education Governance Today, Chester E. Finn Jr. and Michael J. Petrilli How Current Education Governance Distorts Financial Decisionmaking, Marguerite Roza Governance Challenges to Innovators within the System, Michelle R. Davis Governance Challenges to Innovators outside the System, Steven F. Wilson Rethinking District Governance, Frederick M. Hess and Olivia M. Meeks Interstate Governance of Standards and Testing, Kathryn A. McDermott Education Governance in Performance-Based Federalism, Kenneth K. Wong The Rise of Education Executives in the White House, State House, and Mayor’s Office, Jeffrey R. Henig English Perspectives on Education Governance and Delivery, Michael Barber Education Governance in Canada and the United States, Sandra Vergari Education Governance in Comparative Perspective, Michael Mintrom and Richard Walley Governance Lessons from the Health Care and Environment Sectors, Barry G. Rabe Toward a Coherent and Fair Funding System, Cynthia G. Brown Picturing a Different Governance Structure for Public Education, Paul T. Hill From Theory to Results in Governance Reform, Kenneth J. Meier The Tall Task of Education Governance Reform, Paul Manna and Patrick McGuinn
Education policymaking is traditionally seen as a domestic political process. The job of deciding where students will be educated, what they will be taught, who will teach them, and how it will be paid for clearly rests with some mix of district, state, and national policymakers. This book seeks to show how global trends have produced similar changes to very different educational systems in the United States and Japan. Despite different historical development, social norms, and institutional structures, the U.S. and Japanese education systems have been restructured over the past dozen years, not just incrementally but in ways that have transformed traditional power arrangements. Based on 124 interviews, this book examines two restructuring episodes in U.S. education and two restructuring episodes in Japanese education. The four episodes reveal a similar politics of structural education reform that is driven by symbolic action and bureaucratic turf wars, which has ultimately hindered educational improvement in both countries.
"Anne O. Krueger has assembled and deftly summarized an excellent set of papers on the major issues in economic reform in developing countries at the turn of the century."--Stanley Fischer, International Monetary Fund The papers and commentary collected in this volume discuss vital contemporary thinking on economic policy reform--in particular, the difficulties that leave so much of the world mired in poverty. Distinguished contributors address issues ranging from education and privatization to exchange rates and telecommunications reform, providing an excellent overview of the current situation and the possible paths into the future.
China's People's Liberation Army (PLA) has embarked on its most wide-ranging and ambitious restructuring since 1949, including major changes to most of its key organizations. The restructuring reflects the desire to strengthen PLA joint operation capabilities- on land, sea, in the air, and in the space and cyber domains. The reforms could result in a more adept joint warfighting force, though the PLA will continue to face a number of key hurdles to effective joint operations, Several potential actions would indicate that the PLA is overcoming obstacles to a stronger joint operations capability. The reforms are also intended to increase Chairman Xi Jinping's control over the PLA and to reinvigorate Chinese Communist Party (CCP) organs within the military. Xi Jinping's ability to push through reforms indicates that he has more authority over the PLA than his recent predecessors. The restructuring could create new opportunities for U.S.-China military contacts.
