Shifting States in Global Markets


Book Description

Shifting States in Global Markets contributes to the debates over the political economy of globalization by focusing attention on the increasingly important role of subnational governments in implementing economic policies. Challenging the view that the effects of decentralization are positive or negative uniformly and can be explained by reference to the influence of national political institutions, Alfred Montero uses his comparisons of industrial policy in Brazil and Spain, and between different regions in these countries, to argue that we need to pay attention to political conditions at the subnational level to account for the variation in economic success between regions. Two crucial conditions are emphasized in Montero's analysis: how much competition there is among political elites within any region, and how much competition there is between regions for scarce fiscal resources. Lower competition among elites leads to subnational governments delegating more autonomy to public agencies to develop ties with private businesses favoring allocative efficiency and innovation; higher competition between regions provides incentives for political leaders to support involvement in economic development efforts by a greater variety of public agencies, whose cooperation and mutual trust over time create the conditions for long-term success in these efforts. This analysis gives us a much more nuanced understanding of how countries are experiencing the challenges of globalization today.




No Ordinary Disruption


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.




State Institutions, Private Incentives, Global Capital


Book Description

The growth of global finance since 1960 constitutes one of the most important transformations in social relations during the twentieth century. Using historical, statistical, and graphical techniques, State Institutions, Private Incentives, and Global Capital examines three important aspects of this phenomenal shift in the international political economy. First, Andrew Sobel explores the reawakening of the international financial markets, mapping their extraordinary transformation since the early 1960s and discussing the role of politics in that metamorphosis. The author then offers a fresh understanding of the systematic differences in access for borrowers in this rapidly transforming and expanding global capital pool. He then demonstrates the influence of political factors in producing differential access to the global capital pool. Showing how the character and stability of a country's political system affects investors's decisions to invest in that country, Sobel breaks new ground in understanding the basis for the frequent admonitions by the World Bank and others that a stable political and legal system are essential for states to attract significant foreign investment. With the growing debate about the effect of financial interdependence on the ability of states to conduct economic policy and indeed to preserve their independence in the face of unprecedented economic linkages, this book will be of interest to political scientists and economists as well as policy makers concerned with the impact of financial globalization and the causes of differentials in access to capital. Andrew C. Sobel is Assistant Professor of Political Science and Resident Fellow, Center in Political Economy, Washington University, St. Louis. He is the author of Domestic Choices, International Markets: Dismantling National Barriers and Liberalizing Securities Markets.




Changing Contexts and Shifting Roles of the Indian State


Book Description

This book critically discusses the changing relationship between the Indian state and capital by examining the mediating role of society in influencing developmental outcomes. It theorizes the state’s changing context allowing the discussion of its pursuit of contradictory economic and social welfare goals simultaneously. Both structural and ideological factors are argued to contribute to a shifting context, but the centrality of re-distributive politics and the contradictions therein explain a lot of what the state does and cannot do. The book also examines what the state aspires to do but structurally cannot accomplish either because of the scale of the problem or the dysfunctionality that sets in with continuous reforms. The collection provides rich evidence on the contested forms of governance arising from changing contexts and shifting roles of the state. Readers will benefit from this recasting of the Indian state in terms of the actual forms of intervention today. Changing Contexts and Shifting Roles of the Indian State is a timely book. At a time when the question of the role of the state in promoting more inclusive forms of development has never been more urgent, this book provides a range of powerful and insightful case studies of how a changing Indian capitalism is impacting and in turn being impacted by the multi-stranded role of the Indian state. Patrick Heller, Professor of Sociology and International Affairs, Brown University, Providence. Since the early 1990s, the Indian economy has moved away from a statist model of development to a more market-oriented one. However, very little scholarship exists that attempts to analyse India’s recent development experience from a political economy lens. This book, which is edited by two of India’s reputed scholars in the political economy of development, addresses this important gap in the literature. It provides an insightful account of the role of the state and the market in India’s economic resurgence in the last three decades. The book also contributes to a fresh understanding of what is meant by a twenty-first century developmental state in a globalised world. The book will be valuable reading for all scholars of India, as well as to researchers in the political economy of development. Kunal Sen, Director, United Nations University – World Institute for Development Economics Research (UNU-WIDER), Helsinki. This collection gives us a richer and more layered understanding of the Indian contemporary State. Rather than see the State as an unchanging entity with unchanging interests, the book argues that the role of the State changes with the context and with the change in political regime. Thus, taking contradictory decisions such as greater dispossession of land from the peasantry and expansion of the universe of economic rights is explainable. The argument is that we can have a better understanding when we see the Indian State as dealing with the ebb and flow of a democracy. C. Rammanohar Reddy, Former Editor, Economic and Political Weekly, Mumbai.




Chinese Perspectives on Globalization and Autonomy


Book Description

This book is a reflection of the discussion and debates on globalization and state autonomy in China. These debates, dated back to early 1990s, witnessed China’s gradual involvement in globalization. Like other developing countries, China faced tremendous pressure when globalization intensified in the 1990s. As it turned out, China arduously made up its mind to embrace globalization, which reached its height when China was finally adopted as a member of the World Trade Organization in 2001.Thus, the articles in this book record the anxiety, concerns, uncertainty and enthusiasm of Chinese scholars in the face of China’s embracing of globalization. In other words, this book presents a unique Chinese perspective on globalization and state autonomy.




Conquering Global Markets


Book Description

Conquering Global Markets offers assessments of the issues, statistics, cases, and best practices of mergers, acquisitions, joint ventures and alliances throughout the world. Using information gleaned interviews with CEOs, the book provides insights into making global M&As successful.







The Information Society


Book Description

This book provides an overview of debates about whether we are entering into a phase of social existence without precedent - the 'information society'. Intended as a bridge between the literatures of 'social theory' and the 'social impact of technology', this study exposes the myths surrounding the creation of the information society, discussing technologies such as cable TV and robotics.




Corporate Crops


Book Description

Biotechnology crop production area increased from 1.7 million hectares to 148 million hectares worldwide between 1996 to 2010. While genetically modified food is a contentious issue, the debates are usually limited to health and environmental concerns, ignoring the broader questions of social control that arise when food production methods become corporate-owned intellectual property. Drawing on legal documents and dozens of interviews with farmers and other stakeholders, Corporate Crops covers four case studies based around litigation between biotechnology corporations and farmers. Pechlaner investigates the extent to which the proprietary aspects of biotechnologies—from patents on seeds to a plethora of new rules and contractual obligations associated with the technologies—are reorganizing crop production. The lawsuits include patent infringement litigation launched by Monsanto against a Saskatchewan canola farmer who, in turn, claimed his crops had been involuntarily contaminated by the company’s GM technology; a class action application by two Saskatchewan organic canola farmers launched against Monsanto and Aventis (later Bayer) for the loss of their organic market due to contamination with GMOs; and two cases in Mississippi in which Monsanto sued farmers for saving seeds containing its patented GM technology. Pechlaner argues that well-funded corporate lawyers have a decided advantage over independent farmers in the courts and in creating new forms of power and control in agricultural production. Corporate Crops demonstrates the effects of this intersection between the courts and the fields where profits, not just a food supply, are reaped.




American Manufacturing in a Global Market


Book Description

The health of American manufacturing has been a cause of real concern during the 1980s. Foreign competition, hostile takeovers, new technologies and a host of other factors have caused dramatic changes in this key sector of the American economy. Many ob servers of this process of change are singing the "rust belt blues," consigning U.S. manufacturing greatness to the history books. In April 1986, the Center for the Study of American Business at Washington University issued a study by its director, Dr. Murray L. Weidenbaum, which challenged this perception of American manu facturing's future. The report, entitled Learning to Compete, pointed to a variety of positive developments resulting from the ad versity faced by American firms in the first half of the decade: pro ducers had improved quality and productivity, reduced costs, and in creased emphasis on R&D. In November 1988, as a logical extension of this research, the Center held a conference on American Manufacturing in the 1990s. Focusing on American responses to the changing global competitive environment, this conference brought together the practical experi ence of business professionals and the more detached views of aca demic and media experts. In a day and a half of meetings, encompassing six separate ses sions, a luncheon address and an after-dinner debate, conference participants assembled an extensive profile on the state of U.S.