Globalization of Services


Book Description

This important book offers economists both a wealth of new source material and a fresh perspective on the modern global economy. It includes contributions from a wide range of international authors.




Accelerating the Globalization of America


Book Description

Information technology (IT) was key to the superior overall macroeconomic performance of the United States in the 1990s—high productivity, high growth, low inflation, and low unemployment. But IT also played a role in increasing earnings dispersion in the labor market—greatly rewarding workers with high education and skills. This US performance did not happen in a global vacuum. Globalization of US IT firms promoted deeper integration of IT throughout the US economy, which in turn promoted more extensive globalization in other sectors of the US economy and labor market. How will the increasingly globalized IT industry affect US long-term growth, intermediate macro performance, and disparities in the US labor market? What policies are needed to ensure that the United States remains first in innovation, business transformation, and education and skills, which are prerequisites for US economic leadership in the 21st century? This book traces the globalization of the IT industry, its diffusion into the US economy, and the prospects and implications of more extensive technology-enabled globalization of products and services.




International Trade in Services and Intangibles in the Era of Globalization


Book Description

Quantitative measures of international exchange have historically focused on trade in tangible products or capital. However, services have recently become a larger portion of developed economies and international trade, and will only increase in the future. In International Trade in Services and Intangibles in the Era of Globalization, Marshall Reinsdorf and Matthew J. Slaughter examine new and emerging patterns of trade, especially the growing importance of transactions involving services or intangible assets such as intellectual property. A distinguished team of contributors analyzes the challenges involved in measuring trade in intangibles, the comparative advantages enjoyed by United States service industries, and the heightened international competition for jobs, capital investment, economic growth, and tax revenue that results from trade in services. This comprehensive volume will be necessary reading for scholars seeking to understand the rapidly changing global economy.




Globalization of Technology


Book Description

The technological revolution has reached around the world, with important consequences for business, government, and the labor market. Computer-aided design, telecommunications, and other developments are allowing small players to compete with traditional giants in manufacturing and other fields. In this volume, 16 engineering and industrial experts representing eight countries discuss the growth of technological advances and their impact on specific industries and regions of the world. From various perspectives, these distinguished commentators describe the practical aspects of technology's reach into business and trade.




The Local Impact of Globalization in South and Southeast Asia


Book Description

In the past two decades, several millions of IT-enabled services jobs have been relocated or ‘offshored’ from the US and Europe to, in particular, low cost economies around the world. Most of these jobs so far have landed in South and South-East Asia, with India and the Philippines receiving the bulk of them. This has caused profound changes in the international division of labour, and has had correspondingly wide social and economic effects. This book examines how this ‘next wave in globalization’ affects people and places in South and South-East Asia. It brings together twelve case studies from India, the Philippines, China, Hong Kong and Thailand, and explores how and for whom services offshoring creates opportunities, triggers local economic transformations and produces challenges. This book in addition compares how different countries take part in this ‘second global shift’, investigates service-sector driven economic development from a historical perspective, and engages with the question whether and to what extent services offer a new promising avenue of sustained economic growth for developing countries. It argues that service-led development in developing countries is not easy for all the workers involved, or a guaranteed path to sustained economic development and prosperity. This volume stands out from other books in the field in its exploration of the social and economic outcomes in the cities and countries where services have been located. Based on cutting edge empirical research and original data, the volume offers a state-of-the-art contribution to this growing debate. The book provides valuable insights for students, scholars and professionals interested in services offshoring, socio-economic development and contemporary transformations in South and South-East Asia.




Growth in a Time of Change


Book Description

Growth in a Time of Change: Global and Country Perspectives on a New Agenda is the first of a two-book research project that addresses new issues and challenges for economic growth arising from ongoing significant change in the world economy, focusing especially on technological transformation. The project is a collaboration between the Brookings Institution and the Korea Development Institute. Part I of the book looks at key elements of change from a global perspective. It analyzes how technological change, shifts in investment, and demographic transition are affecting potential economic growth globally and across major groups of economies. The contributors explore possible scenarios for the global economy as the digital revolution drives rapid technological change, including impacts on growth, jobs, income distribution, trade balances, and capital flows. Technology is changing the global configuration of comparative advantage and globalization increasingly has a digital dimension. The implications of these developments for the future of sectors such as manufacturing and for international trade are assessed. Part II of the book addresses new issues in the growth agenda from the perspective of an individual major economy: South Korea. The chapters in this section analyze how macroeconomic developments and technological change are influencing the behavior of households and firms in terms of their decisions to consume, save, and invest. Rising income and wealth inequalities are a major concern globally. Against this backdrop, trends in the labor income share and wage inequalities in South Korea are analyzed in terms of the role played by technology, industrial concentration, shifts in labor demand and supply, and other factors. Throughout the book, the contributors, in their analysis of both global and Korea-specific trends and prospects, place emphasis on drawing implications for policy.




Financial Services, Globalization and Domestic Policy Change


Book Description

The global scope of the changes in the international financial and monetary systems ensured that no nation-state could protect itself from their effects. The quarter-century, 1970-95, included the most extensive legislative overhaul of financial services policy since the Great Depression, if not the greatest set of changes ever. This book examines how five such states - Canada, France, Germany, UK, USA - adapted by reforming their financial services policies.




Unlocking Africa's Business Potential


Book Description

Africa welcomes business investment and offers some of the world's highest returns and impacts Africa has tremendous economic potential and offers rewarding opportunities for global businesses looking for new markets and long-term investments with favorable returns. Africa has been one of the world's fastest-growing regions over the past decade, and by 2030 will be home to nearly 1.7 billion people and an estimated $6.7 trillion worth of consumer and business spending. Increased political stability in recent years and improving regional integration are making market access easier, and business expansion will generate jobs for women and youth, who represent the vast majority of the population. Current economic growth and poverty-alleviation efforts mean that more than 43 percent of the continent's people will reach middle- or upper-class status by 2030. Unlocking Africa's Business Potential examines business opportunities in the eight sectors with the highest potential returns on private investment—the same sectors that will foster economic growth and diversification, job creation, and improved general welfare. These sectors include: consumer markets, agriculture and agriprocessing, information and communication technology, manufacturing, oil and gas, tourism, banking, and infrastructure and construction. The book's analysis of these sectors is based on case studies that identify specific opportunities for investment and growth, along with long-term market projections to inform decision-making. The book identifies potential risks to business and offers mitigation strategies. It also provides policymakers with solutions to attract new business investments, including how to remove barriers to business and accelerate development of the private sector.




Making Globalization Work


Book Description

Nobel Prize winner Stiglitz focuses on policies that truly work and offers fresh, new thinking about the questions that shape the globalization debate.




Globalization: A Very Short Introduction


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.