Globalisation and Emerging Economies Brazil, Russia, India, Indonesia, China and South Africa PDF Download

Author: OECD
Publisher: OECD Publishing
ISBN: 9264044817
Category :
Languages : en
Pages : 457

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Book Description
This book analyses key elements of the trade performance of the so-called BRIICS: Brazil, Russia, India, Indonesia, China and South Africa, in relation to the rest of the world, focusing on trade and other policies influencing that performance. It also presents a separate chapter for each country.

Author: Leonardo E. Stanley
Publisher: Anthem Press
ISBN: 1783086750
Category : Business & Economics
Languages : en
Pages : 260

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Book Description
In the past, foreign shocks arrived to national economies mainly through trade channels, and transmissions of such shocks took time to come into effect. However, after capital globalization, shocks spread to markets almost immediately. Despite the increasing macroeconomic dangers that the situation generated at emerging markets in the South, nobody at the North was ready to acknowledge the pro-cyclicality of the financial system and the inner weakness of “decontrolled” financial innovations because they were enjoying from the “great moderation.” Monetary policy was primarily centered on price stability objectives, without considering the mounting credit and asset price booms being generated by market liquidity and the problems generated by this glut. Mainstream economists, in turn, were not majorly attracted in integrating financial factors in their models. External pressures on emerging market economies (EMEs) were not eliminated after 2008, but even increased as international capital flows augmented in relevance thereafter. Initially economic authorities accurately responded to the challenge, but unconventional monetary policies in the US began to create important spillovers in EMEs. Furthermore, in contrast to a previous surge in liquidity, funds were now transmitted to EMEs throughout the bond market. The perspective of an increase in US interest rates by the FED is generating a reversal of expectations and a sudden flight to quality. Emerging countries’ currencies began to experience higher volatility levels, and depreciation movements against a newly strong US dollar are also increasingly observed. Consequently, there are increasing doubts that the “unexpected” favorable outcome observed in most EMEs at the aftermath of the Global Financial Crisis (GFC) would remain.

Author: Jan Nederveen Pieterse
Publisher: Routledge
ISBN: 1315312832
Category : Political Science
Languages : en
Pages : 283

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Book Description
Like a giant oil tanker, the world is slowly turning. The rapid growth of economies in Asia and the global South has led to a momentous shift in the world order, leaving much of the traditional literature on globalization behind. Multipolar Globalization: Emerging Economies and Development is the perfect guide to these ongoing 21st-century transformations, combining engaging and wide-ranging coverage with cutting-edge analysis. The rise of China and other emerging economies has led to the emergence of a new geography of trade, new economic and political combinations, new financial actors, investors and donors, and weaker American hegemony. This interdisciplinary volume combines development studies, global political economy, sociology, and cultural studies to ask what this growth means for domestic and global inequality and examines the role of multipolarity in the reshaping of globalization. Renowned globalization scholar Jan Nederveen Pieterse deftly guides the reader through the development of globalization in the West and the East, explaining key topics such as the 2008 crash, trends in inequality, the changing fortunes of the BRICs, and the role of governance and democracy. Accessible and insightful, this book will be an essential guide for both students in the social sciences and for professionals and scholars seeking a fresh perspective.

Author: Tony Cavoli
Publisher: Routledge
ISBN: 1000067416
Category : Business & Economics
Languages : en
Pages : 331

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Book Description
Since the 1990s, several emerging market and developing economies (EMDEs) have, to varying degrees, embraced the process of financial globalisation, broadly defined as a set of policies that involve allowing for greater openness to cross-border capital flows as well as greater market access to foreign financial institutions. This book provides a systematic empirical analysis on the complex interactions between financial sector development, macroeconomic and financial stability in EMDEs in general and those in the Asian region in particular. The book consists of three sections pertaining to monetary and exchange rate policies under financial globalisation; financial inclusion and macroeconomic policies in the context of financial liberalisation; and finally, the dynamics of foreign direct investment flows and their real impacts in EMDEs. Each of the chapters analyse important economic policy issues of contemporary relevance and is informed by data and rigorous empirical analysis. The book will be appealing to anyone interested in exploring the implications of a key set of issues emanating from financial globalisation on EMDEs in a rigorous but readable manner.

Author: Nezameddin Faghih
Publisher: Springer
ISBN: 3030143708
Category : Business & Economics
Languages : en
Pages : 446

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Book Description
This book presents economic and socio-cultural perspectives on globalization from emerging markets. It explores the links between globalization and development, and reveals the dynamics, strengths and weaknesses, trends in and implications of globalization in emerging market economies. Gathering papers by leading experts in the field, it shares essential insights into the history and status quo of globalization processes and structures; identifies the opportunities provided by and risks posed by globalization; and sheds light on the way to global peace. The topics addressed range from globalization development within the Group of Twenty (G20), populist events such as “Brexit” as a form of historical irony, and a zeitgeist analysis of the globalization spirit; to the evolution of higher education and public administrative systems under the weight of globalization; not to mention emerging topics such as the informal economy and new rules for fleecing the South in the newly globalized trade system.

Author: Richard Dobbs
Publisher: PublicAffairs
ISBN: 1610397622
Category : Business & Economics
Languages : en
Pages : 256

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Book Description
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.

Author: Bruno Bonizzi
Publisher: Routledge
ISBN: 9780429655913
Category : Business & Economics
Languages : en
Pages : 278

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Book Description
This book provides a comprehensive overview of the financial integration of emerging economies through an in-depth analysis of the international monetary system, how it impacts capital flows and exchange rates, and its implications for policy making. The financial integration of emerging economies has been a remarkable development of the past two decades. The growth of cross-border transactions and asset ownership, not least through the accumulation of foreign exchange reserves, has put many of these countries in a more prominent, if still peripheral, position within the global financial system. This has not been a smooth process, as integration has been marked by cyclical waves of capital flows, with financial and currency instability often accompanying the acute phases of these cycles. While conventional economic theory traditionally sees financial integration as a positive development, Post-Keynesian economists, working in the tradition of Keynes, Minsky and Kalecki, have long taken a more sceptical viewpoint. By centring the analysis of financial dynamics on concepts as liquidity, uncertainty, balance-sheet structures and institutions, Post-Keynesian theory highlights the intrinsic character of shocks imposed by financial integration upon emerging economies, and their implications for economic growth and distribution. This book demonstrates that these analyses can be fruitfully used to gain a better understanding of financial (in)stability and economic development in emerging economies as they integrate into the global financial system. This work provides key reading for students and scholars of economics, political economy and finance that are interested in the financial integration of emerging economies, and how the heterodox tradition of Post-Keynesian economics contributes to its analysis.

Author: Uri B. Dadush
Publisher: Carnegie Endowment
ISBN: 0870032615
Category : Business & Economics
Languages : en
Pages : 274

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Book Description
In Juggernaut, Uri Dadush and William Shaw explore the major trends associated with the rise of developing countries, including increased manufacturing, expansion in world trade, and, ultimately, improved living and working conditions, as well as the broad challenges those trends pose.

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: Manfred B. Steger
Publisher: Oxford University Press
ISBN: 0192589326
Category : Political Science
Languages : en
Pages : 185

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Book Description
We live today in an interconnected world in which ordinary people can became instant online celebrities to fans thousands of miles away, in which religious leaders can influence millions globally, in which humans are altering the climate and environment, and in which complex social forces intersect across continents. This is globalization. In the fifth edition of his bestselling Very Short Introduction Manfred B. Steger considers the major dimensions of globalization: economic, political, cultural, ideological, and ecological. He looks at its causes and effects, and engages with the hotly contested question of whether globalization is, ultimately, a good or a bad thing. From climate change to the Ebola virus, Donald Trump to Twitter, trade wars to China's growing global profile, Steger explores today's unprecedented levels of planetary integration as well as the recent challenges posed by resurgent national populism. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.