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With the nations of the world becoming more interdependent, it is imperative to take international influences into account in understanding the organization of industry within a country. This book extends the structure/conduct/performance framework of analysis to present a fully specified simultaneous equation model of an open economy--Canada. By estimating a system of equations of all the major variables, the authors can identify which variables are dependent and which are independent. They are thus able to assess the relative importance of such factors as seller concentration, import competition, retailing structure, advertising expenditure, research and development spending, and technical and allocative efficiency in shaping the organization of industry in Canada. In addition, using both industry-level and firm-level data, the authors develop methods for assessing the effect of structural variables on diversification strategies and the consequences for market performance. They also study the effects of such variables on firms' access to capital markets. The book concludes with a discussion of the implications of the findings for government policy.
Investment banks play a critically important role in channeling capital from investors to corporations. Not only do they float and distribute new corporate securities, they also assist companies in the private placement of securities, arrange mergers and acquisitions, devise specialized financing, and provide other corporate financial services. After sketching the history and evolution of investment banking, the authors describe the structure of the industry, focusing on the competitive forces at work within it today. They explore patterns of concentration and analyze the strategic and economic factors that underlie those patterns. The authors directly examine the pairing up of investment ba...
The big stories -- The skills of the new machines : technology races ahead -- Moore's law and the second half of the chessboard -- The digitization of just about everything -- Innovation : declining or recombining? -- Artificial and human intelligence in the second machine age -- Computing bounty -- Beyond GDP -- The spread -- The biggest winners : stars and superstars -- Implications of the bounty and the spread -- Learning to race with machines : recommendations for individuals -- Policy recommendations -- Long-term recommendations -- Technology and the future (which is very different from "technology is the future").
The result of two years work by 19 experienced policymakers and two Nobel prize-winning economists, 'The Growth Report' is the most complete analysis to date of the ingredients which, if used in the right country-specific recipe, can deliver growth and help lift populations out of poverty.
Prominent economists reconsider the fundamentals of economic policy for a post-crisis world. In 2011, the International Monetary Fund invited prominent economists and economic policymakers to consider the brave new world of the post-crisis global economy. The result is a book that captures the state of macroeconomic thinking at a transformational moment. The crisis and the weak recovery that has followed raise fundamental questions concerning macroeconomics and economic policy. These top economists discuss future directions for monetary policy, fiscal policy, financial regulation, capital-account management, growth strategies, the international monetary system, and the economic models that should underpin thinking about critical policy choices. Contributors Olivier Blanchard, Ricardo Caballero, Charles Collyns, Arminio Fraga, Már Guðmundsson, Sri Mulyani Indrawati, Otmar Issing, Olivier Jeanne, Rakesh Mohan, Maurice Obstfeld, José Antonio Ocampo, Guillermo Ortiz, Y. V. Reddy, Dani Rodrik, David Romer, Paul Romer, Andrew Sheng, Hyun Song Shin, Parthasarathi Shome, Robert Solow, Michael Spence, Joseph Stiglitz, Adair Turner
With the Industrial Revolution, part of the world’s population (Europe, America, and Japan) started to experience extraordinary economic growth yet four-fifths of humanity remained mired in poverty. Till the Second World War the world remained a profoundly unequal place. Then the pendulum began to swing the other way. Some countries, mainly in Asia, started growing at unprecedented rates at about 7 percent a year. More recently, the two most populous countries in the world—China and India—have begun to grow at rates close to 10 percent. This convergence between the developing and developed worlds—a revolution just as profound as the Industrial Revolution—is reshaping the world toda...
'A landmark new book.' - The Guardian Age of Discovery looks at the world on the brink of a new Renaissance and asks the question, how do we avoid chaos and disruption, and share more widely the benefits of progress? Now is humanity's best moment. And our most fragile. Global health, wealth and education are booming. Scientific discovery is flourishing. But the same forces that make big gains possible for some of us deliver big losses to others-and tangle us together in ways that make everyone vulnerable. We've been here before. The first Renaissance, the time of Columbus, Copernicus, Gutenberg and others, redrew all maps of the world, liberated information and shifted Western civilization from the medieval to the early modern era. Such change came at a price: social division, political extremism, economic shocks, pandemics and other unintended consequences of human endeavour. Now is our second Renaissance. In the face of terrorism, Brexit, refugee crises and the global impact of a Trump presidency, we can flourish-if we heed the urgent lessons of history. Age of Discovery, revised and updated for this paperback edition, shows us how.
Does leadership affect economic growth and development? Is leadership an exogenous determinant or an endogenous outcome of growth and development processes? Can we differentiate between the two? Do leaders decisions and actions vary in importance over various stages in the process, at least in successful cases? How important is choosing the right economic model? To what extent does leadership affect the explicit or implicit time horizons of policy choices? Is leadership an important determinant of inclusiveness in growth? In what ways do leaders build consensus or institutions to allow time for the economic plan to work? What challenges does economic success generate? How do successful leade...