Developed Nations and the Economic Impact of Globalization PDF Download

Author: Ken Moak
Publisher: Springer
ISBN: 3319579037
Category : Business & Economics
Languages : en
Pages : 263

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Book Description
This book discusses the economic and geopolitical effects of globalization from historical and institutional perspectives. While it has had unintended consequences, such as displacing developed countries' dominance of production markets, the overall benefits of globalization far outweigh the costs. Moak argues that leading developed nations should not fear globalization but, instead, make concerted efforts to promote it in order to keep the cost-benefit balance weighing in favor of economic enhancement and geopolitical stability. Having incurred huge private and public debts as well as a weak monetary policy posture, many developed nations have been unable to recovery from the 2008 financial crisis. Moreover, geopolitical tensions are rising due to the power rivalry between the United States, China, and Russia over a host issues, including trade imbalances and geopolitics. This book aims to provide stakeholders with the relevant and necessary information to hold an objective debate on globalization. Ultimately, this book is about globalization— what it is, how it impacts the global economy and polity, and why it is needed now more than any other time in human history.

Author: Farhang Morady, Hakan Kapucu, Ömer Yalçınkaya
Publisher: IJOPEC Publication
ISBN: 1999703502
Category : Business & Economics
Languages : en
Pages : 318

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Book Description
The growth paradigm or the economic growth generally been presented as a positive, limitless and good for social problems. The term was hardly touched in pre-capitalism by any academic research. With the rise of capitalism and industrial revolution it became an important tool to measure production quantitatively and qualitatively. Industrialisation also encouraged the expansion of trade and gradual breakdown of the pre-capitalist order in 18th century in Britain. The spread of market had facilitated the specialisation, encouraging division of labour. Whilst for The Classical Political Economists; Adam Smith, David Ricardo and Thomas Malthus; economic growth is self-reinforcing. Marx pointed out importance of forces and relations of production and significance of social classes within it (Marx, 1863). Smith, Ricardo and Malthus were writing at a time when capitalist development was expanding fast and growth was a central in the process. The gradual impact of the West on the rest of world became part of a wider process of change in the World Economy. European capital increased its domination of the world trade through expansionist commercial policies (Wallerstein, 1979). The economic growth encouraged commerce. The necessity to export, and other technological changes formed part of the reason for the decline of feudalism. This transition from feudalism to capitalism began in the West and soon made an impact on the rest of the World. T Farhang Morady, Hakan Kapucu, Ömer Yalçınkaya (Development & Growth: Economic Impacts of Globalization) 12 In 1932 Simon Kuznets, the US economist identified Gross Domestic Product (GDP) to measure the national output of a country within a period. It has continued to be an important indicator to measure economic growth, but it has also been under considerable criticisms. For example; GDP treats resources as income without excluding depletion or depression of the resources. Moreover, GDP has been criticised for disregarding income distribution. Despite all the criticism, GDP has been the most significant indicator of growth and development. With the Post War-II reconstruction of devastated countries and in order to kick-start the World Economy, the state in both developed and developing counties became the important agency to facilitate economic growth. The establishment of the Bretton Woods institutions, the Keynesian model of government intervention and the US implementation of “New Deal” facilitated growth. This was deliberate strategy to reconstruct and create networks of international cooperation. This was pointed out by President Truman in 1949: A program of development based on the concepts of democratic fair-dealing. All countries, including our own, will greatly benefit from a constructive program for the better use of the World's human and natural resources (Truman, 1949). This meant the reinforcement and need to distribute the 'Benefits' of capitalist form of development, more widely, against the planned economy sustained by the Soviet Union. The economist such as Joseph Schumpeter pointed to the possibility that capitalist growth, if it is sustained, could abolish poverty (Schumpeter, 1954, pp66-68). Whilst development meant rapid industrialisation, GDP became a key policy objective for the policy makers and governments around the world, not just in the Soviet Union but the Western Capitalist World, to set targets for their Growth Rate. The end of the Cold War in the 1980s, for some, meant triumph of Neoliberal Capitalism. The others talked of trade liberalization; free movement of capital and the development of information technology, facilitating the relocation of businesses across the world. (Ohmae, 1995). Friedman suggested that globalization is the Inevitable; Integration of markets, nation-states and technologies ... enabling individuals, corporations and nation-states, to reach around the world farther, faster, deeper and cheaper than ever before (Friedman, 1999). Development & Growth: Economic Impact of Globalization (Edited by: Farhang Morady, Hakan Kapucu, Ömer Yalçınkaya) 13 Francis Fukuyama (1992) suggested the new era as ‘The End of History’ through which the ‘Liberal Idea’ triumphed, leading to a new global hegemony. For Fukuyama the only route to modernity, growth and development is the Neo-liberal Democratic path under Global Capitalism. This optimism was not shared by all academics, as Globalization produced poor growth and polarization of wealth: what Collier terms the ‘Bottom one Billion’ (2008). As a result, there has been major criticism of the World Bank and the International Monetary Funds in the second half of the 1990s, especially with the Asian financial and economic crises. The response from these institutions has been vigorous. They continued to believe that liberalization, deregulation, and privatization represent the best way forward for growth and development. With 2008 world recession the World Economy has faced a new challenge. The emergence of powerful economies such as; China, India and Brazil; helped the world economy to grow, at least for now. However, the unevenness of the world economy continues to cause difficulties especially the US as they feeling the threat of their competitors such as China, Germany and even India. The victory of Donald Trump as the S President has represented an ideological shift from free trade advocator of global capitalism to a mixture of right-wing populism. Before and after the presidential election, he called for the revival of the American economy, which has been under considerable pressure since 2008 World Recession. In order to prove growth rate Trump has a huge challenge ahead, not least to deal with the competition from South East Asian economies, especially China. It remains to be seen whether the new US administration will continue with their populist rhetoric In this book, “Economic Impacts of Globalization: Growth & Development”, several academicians provide different analysis of economic growth and economic development. The scientific ethics and responsibility of the works in the book belong to the authors / writers. The book compromises of 15 chapters focusing on economic growth and economic development in the era of globalisation. By taking different angles, they demonstrate different problems and solutions.

Author: Ann Harrison
Publisher: University of Chicago Press
ISBN: 0226318001
Category : Business & Economics
Languages : en
Pages : 674

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Book Description
Over the past two decades, the percentage of the world’s population living on less than a dollar a day has been cut in half. How much of that improvement is because of—or in spite of—globalization? While anti-globalization activists mount loud critiques and the media report breathlessly on globalization’s perils and promises, economists have largely remained silent, in part because of an entrenched institutional divide between those who study poverty and those who study trade and finance. Globalization and Poverty bridges that gap, bringing together experts on both international trade and poverty to provide a detailed view of the effects of globalization on the poor in developing nations, answering such questions as: Do lower import tariffs improve the lives of the poor? Has increased financial integration led to more or less poverty? How have the poor fared during various currency crises? Does food aid hurt or help the poor? Poverty, the contributors show here, has been used as a popular and convenient catchphrase by parties on both sides of the globalization debate to further their respective arguments. Globalization and Poverty provides the more nuanced understanding necessary to move that debate beyond the slogans.

Author: David Bigman
Publisher: CABI
ISBN: 1845933095
Category : Social Science
Languages : en
Pages : 338

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Book Description
One of the most notable changes in the world economy during the past three decades has been the diverging trends in the growth of the developing countries. This book examines the opportunities open to the least developed countries as they design their strategies to accelerate growth and alleviate poverty.

Author: Huwart Jean-Yves
Publisher: OECD Publishing
ISBN: 9264111905
Category :
Languages : en
Pages : 157

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Book Description
This publication reviews the major turning points in the history of economic integration, and in particular the pace at which it has accelerated since the 1990s. It also considers its impact in four crucial areas, namely employment, development, the environment and financial stability.

Author: William R. Thompson
Publisher: Routledge
ISBN: 1135276668
Category : Business & Economics
Languages : en
Pages : 211

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Book Description
Using a world systems approach this book examines how globalization is experienced around the world and compares its intensity and impact in industrialized countries and developing countries, focusing on economic growth, technological diffusion, debt, North-South conflict, democratisation and globalization,

Author: Joseph E. Stiglitz
Publisher: W. W. Norton & Company
ISBN: 0393071073
Category : Business & Economics
Languages : en
Pages : 305

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Book Description
This powerful, unsettling book gives us a rare glimpse behind the closed doors of global financial institutions by the winner of the 2001 Nobel Prize in Economics. When it was first published, this national bestseller quickly became a touchstone in the globalization debate. Renowned economist and Nobel Prize winner Joseph E. Stiglitz had a ringside seat for most of the major economic events of the last decade, including stints as chairman of the Council of Economic Advisers and chief economist at the World Bank. Particularly concerned with the plight of the developing nations, he became increasingly disillusioned as he saw the International Monetary Fund and other major institutions put the interests of Wall Street and the financial community ahead of the poorer nations. Those seeking to understand why globalization has engendered the hostility of protesters in Seattle and Genoa will find the reasons here. While this book includes no simple formula on how to make globalization work, Stiglitz provides a reform agenda that will provoke debate for years to come. Rarely do we get such an insider's analysis of the major institutions of globalization as in this penetrating book. With a new foreword for this paperback edition.

Author: Fouad Sabry
Publisher: One Billion Knowledgeable
ISBN:
Category : Political Science
Languages : en
Pages : 319

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Book Description
Globalization Explore the intricate impacts of globalization on economies, cultures, and political landscapes worldwide in this comprehensive study. Each offers invaluable insights into its complexities and challenges in the contemporary era. Chapters Overview - 1: Globalization - Understand the evolution and significance of globalization in today’s interconnected world. - 2: International Monetary Fund - Examine the IMF’s role in global economic policies and financial stability. - 3: Neoliberalism - Critique the pervasive influence of neoliberalism on economic globalization. - 4: Economic Development - Analyze strategies for economic development in the Global North and South. - 5: Global North and Global South - Investigate disparities between developed and developing regions. - 6: Trade Justice - Discuss the quest for equity in global trade systems. - 7: Green Economy - Explore globalization’s intersection with environmental sustainability. - 8: Economy of Asia - Highlight key trends and challenges in Asia’s dynamic economies. - 9: Economic Nationalism - Examine the resurgence and implications of economic nationalism. - 10: Economic Integration - Investigate the benefits of economic integration globally. - 11: Development Theory - Explore theoretical frameworks guiding development in a global context. - 12: Regional Integration - Assess the impacts of regional integration initiatives worldwide. - 13: Cultural Economics - Examine the economic dimensions of cultural globalization. - 14: Economy of East Asia - Analyze East Asia’s economic dynamics and developmental trajectories. - 15: Globalization in India - Study India’s socio-economic impacts and policy responses to globalization. - 16: Globalization in China - Explore China’s economic rise and global implications. - 17: Barcelona Development Agenda - Assess the effectiveness of global development strategies. - 18: Economic Globalization - Reflect on overarching trends and dynamics of economic globalization. - 19: Outline of Globalization - Provide an overview of globalization’s key dimensions and debates. - 20: Alter-Globalization - Investigate counter-movements and alternative visions for equitable globalization. - 21: Globalization in South Korea - Examine South Korea’s globalization experiences and impacts. Tailored for professionals, students, and enthusiasts, this volume offers detailed insights, comprehensive analyses, and thought-provoking perspectives on navigating our interconnected world.

Author: José Antonio Ocampo
Publisher: Stanford University Press
ISBN: 9780804749565
Category : Business & Economics
Languages : en
Pages : 238

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Book Description
Globalization and Development draws upon the experiences of the Latin American and Caribbean region to provide a multidimensional assessment of the globalization process from the perspective of developing countries. Based on a study by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC), this book gives a historical overview of economic development in the region and presents both an economic and noneconomic agenda that addresses disparity, respects diversity, and fosters complementarity among regional, national, and international institutions. For orders originating outside of North America, please visit the World Bank website for a list of distributors and geographic discounts at http://publications.worldbank.org/howtoorder or e-mail [email protected].

Author: Vic George
Publisher: Bloomsbury Publishing
ISBN: 1350318086
Category : Political Science
Languages : en
Pages : 240

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Book Description
This thematically structured text offers an ideal introduction to the positive and negative effects of globalization on human welfare in industrial and developing societies. It documents the effects of globalization on economic growth, income distribution, poverty, education, health, social care and the environment. It pays special attention to the effects of globalization on ethnic and gender issues and concludes with an assessment of the possibilities of global social policy. It will appeal to undergraduates in the social sciences both as a basic text and a reference book.