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Global Imbalances, Exchange Rates and Oil Exporting Countries
This book analyzes the phenomenon of the unprecedentedly high U.S. current account deficit and its counterpart surpluses in the rest of the world. The book develops a four-region model focusing on the U.S., Europe, Asia and the oil-exporting countries in order to compute the real exchange rate changes which might accompany a reduction in the world's current account imbalances. In addition to the economics of a purely demand-side-driven world, the impact of a flexible supply side on the behavior of the relevant economic variables is modeled and analyzed.
The Institutional Economics of Foreign Aid
This book is about the institutions, incentives and constraints that guide the behaviour of people and organizations involved in the implementation of foreign aid programmes. While traditional performance studies tend to focus almost exclusively on the policies and institutions in recipient countries, this book looks at incentives in the entire chain of organizations involved in the delivery of foreign aid, from donor governments and agencies to consultants, experts and other intermediaries. Four aspects of foreign aid delivery are examined in detail: incentives inside donor agencies, the interaction of subcontractors with recipient organizations, incentives inside recipient country institutions, and biases in aid performance monitoring systems.
Cognition, Rationality, and Institutions
Institutions are rules that are supported by various enforcement mechanisms. Cognition refers to the process of how men perceive and process information, whereas rationality refers to how these processes are modelled. Within institutional economics there is a growing scepticism towards extending the conventional economic frame of analysis to institutions. In particular, the notion of perfect rationality is increasingly questioned. At the same time human cognition has become a major field of research in psychology. This book explores what institutional economics can learn from cognitive psychology regarding the proper modelling of rationality in order to explain institutional change.
Perspectives on Competition in Transportation
Issues of competition seem to have been neglected for a long time in the transportation sector. But the provision of transport services at competitive prices and quantities may have an important impact on economic development, both from a regional and a global perspective. This volume addresses such issues of competition in transportation. Part I deals with the air transport sector, part II is concerned with the road transport sector, part III takes a look at transportation costs and, in the final part, some visions of competition in transportation are discussed.
Institutions and Development
Both economic research and the history of foreign aid suggest that the largest barriers to development arise from a society's institutions - its norms and rules. This book explains how institutions drive economic development. It provides numerous examples to illustrate the complex, interlocking, and persistent nature of real world rules and norms.
Political Competition, Innovation and Growth
This volume confronts an important historical hypothesis with empirical evidence from selected periods of history. The hypothesis in question states that competition among political and legal organisations in developing rules has been a crucial condition for liberty, innovation and growth in the history of mankind. It is due to Immanuel Kant, Edward Gibbon and Max Weber and has been revived and further developed by Nobel-Laureate Douglass C. North who contributes the first chapter. The volume brings together political economists, historians and legal scholars to discuss the role of political competition in the rise and decline of nations - both in theory and in a large number of case studies.
Methodological Individualism
Throughout the history of social thought, there has been a constant battle over the true nature of society, and the best way to understand and explain it. This volume covers the development of methodological individualism, including the individualist theory of society from Greek antiquity to modern social science. It is a comprehensive and systematic treatment of methodological individualism in all its manifestations.
Political Failure by Agreement
Gerhard Wegner provides new insight into the relation between democracies and market economies. He recognizes conflict between the two, but he doesn t propose constitutional controls over political action. Such proposals are grounded in the comparative static manipulation of equilibrium models. In contrast, Wegner advances an evolutionary theory of political economy, and uses this theory to explain how processes of societal learning might be set in motion that could expand support for market arrangements through time. This thoughtful and challenging book will repay examination by all students of political economy. Richard E. Wagner, George Mason University, US In drawing particular attention...
The Economics of Microfinance, second edition
An accessible analysis of the global expansion of financial markets in poor communities, incorporating the latest thinking and evidence. The microfinance revolution has allowed more than 150 million poor people around the world to receive small loans without collateral, build up assets, and buy insurance. The idea that providing access to reliable and affordable financial services can have powerful economic and social effects has captured the imagination of policymakers, activists, bankers, and researchers around the world; the 2006 Nobel Peace Prize went to microfinance pioneer Muhammed Yunis and Grameen Bank of Bangladesh. This book offers an accessible and engaging analysis of the global ...
