Ajit Singh and Rahul Dhumale
- Published in print:
- 2004
- Published Online:
- August 2004
- ISBN:
- 9780199271412
- eISBN:
- 9780191601255
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199271410.003.0006
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Provides a critical analysis of some widely accepted explanations for the significant changes in income distribution that have occurred in many advanced countries during the last two decades. Much of ...
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Provides a critical analysis of some widely accepted explanations for the significant changes in income distribution that have occurred in many advanced countries during the last two decades. Much of the vast literature on the subject emphasizes the role of globalization and technology as the primary influence(s) on income distribution in industrial economies during this period, and this study assesses the validity of these propositions and provides an alternative analytical and policy perspective; it also considers whether these globalization and/or technology theses can be applied to developing countries. The study starts with an introduction, and then the second section outlines the main stylized facts about inequality of income distribution and other unfavourable labour market tendencies (high unemployment and deindustrialization) that have come to characterize industrial economies during the 1980s and 1990s; it also reviews the relevant characteristics of North–South trade in manufactured products. The third section outlines the nature of the ‘Transatlantic Consensus’ that has emerged in this area, notwithstanding serious methodological differences between trade and labour economists; this consensus gives a unified explanation for increased income inequality in the US and of high unemployment in Europe within the same conceptual framework. The fourth section provides a critique of the Consensus and suggests an alternative perspective on income inequality, unemployment, and deindustrialization in advanced countries; the fifth and sixth assess the extent to which changes in income inequality in developing countries can be attributed to globalization, technology, and financial liberalization; and the last section sums up the discussion and outlines policy conclusions, which are substantially different than those that follow from the Transatlantic Consensus.Less
Provides a critical analysis of some widely accepted explanations for the significant changes in income distribution that have occurred in many advanced countries during the last two decades. Much of the vast literature on the subject emphasizes the role of globalization and technology as the primary influence(s) on income distribution in industrial economies during this period, and this study assesses the validity of these propositions and provides an alternative analytical and policy perspective; it also considers whether these globalization and/or technology theses can be applied to developing countries. The study starts with an introduction, and then the second section outlines the main stylized facts about inequality of income distribution and other unfavourable labour market tendencies (high unemployment and deindustrialization) that have come to characterize industrial economies during the 1980s and 1990s; it also reviews the relevant characteristics of North–South trade in manufactured products. The third section outlines the nature of the ‘Transatlantic Consensus’ that has emerged in this area, notwithstanding serious methodological differences between trade and labour economists; this consensus gives a unified explanation for increased income inequality in the US and of high unemployment in Europe within the same conceptual framework. The fourth section provides a critique of the Consensus and suggests an alternative perspective on income inequality, unemployment, and deindustrialization in advanced countries; the fifth and sixth assess the extent to which changes in income inequality in developing countries can be attributed to globalization, technology, and financial liberalization; and the last section sums up the discussion and outlines policy conclusions, which are substantially different than those that follow from the Transatlantic Consensus.
Lavanya Rajamani
- Published in print:
- 2006
- Published Online:
- March 2012
- ISBN:
- 9780199280704
- eISBN:
- 9780191700132
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199280704.003.0003
- Subject:
- Law, Environmental and Energy Law, Public International Law
Because of conflicting political, historic, and economic circumstances, there is an apparent difference between the communities of developing countries from those of their industrial counterparts. ...
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Because of conflicting political, historic, and economic circumstances, there is an apparent difference between the communities of developing countries from those of their industrial counterparts. This is made evident through exploring the nature and framework of international environmental law, since there are significant discrepancies on to whom the responsibility of such issues is given, the measures to be taken, and the conditions of managing global environmental degradation. Despite such dissonance, there have already been several efforts for coming up with measures that would bridge the ideologies of both the developing and industrial states for establishing a common environmental agenda. However, such efforts are not without instances of normativity, ambiguities, and even uprisings. This chapter analyses, through observing the Stockholm, Rio, and Johannesburg international environmental conferences, how this dissonance has developed throughout history.Less
Because of conflicting political, historic, and economic circumstances, there is an apparent difference between the communities of developing countries from those of their industrial counterparts. This is made evident through exploring the nature and framework of international environmental law, since there are significant discrepancies on to whom the responsibility of such issues is given, the measures to be taken, and the conditions of managing global environmental degradation. Despite such dissonance, there have already been several efforts for coming up with measures that would bridge the ideologies of both the developing and industrial states for establishing a common environmental agenda. However, such efforts are not without instances of normativity, ambiguities, and even uprisings. This chapter analyses, through observing the Stockholm, Rio, and Johannesburg international environmental conferences, how this dissonance has developed throughout history.
Lavanya Rajamani
- Published in print:
- 2006
- Published Online:
- March 2012
- ISBN:
- 9780199280704
- eISBN:
- 9780191700132
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199280704.003.0005
- Subject:
- Law, Environmental and Energy Law, Public International Law
The divergence in the culpability and contributions of developing and industrial countries persists and results in the lack of ideological sympathy. The principle of common but differentiated ...
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The divergence in the culpability and contributions of developing and industrial countries persists and results in the lack of ideological sympathy. The principle of common but differentiated responsibility (CBDR) explains the need for international environmental law to implement differential treatment as it is able to exemplify the attempts in establishing a joint venture despite certain boundaries made by these said countries in hopes of attaining international environmental protection. Through looking into the legal status of the CBDR and extracting both its practical and philosophical bases, this chapter attempts to establish the principle as a doctrinal basis for pursuing differential treatment. Also, it attempts to examine the limits and boundaries to the application of the said principle.Less
The divergence in the culpability and contributions of developing and industrial countries persists and results in the lack of ideological sympathy. The principle of common but differentiated responsibility (CBDR) explains the need for international environmental law to implement differential treatment as it is able to exemplify the attempts in establishing a joint venture despite certain boundaries made by these said countries in hopes of attaining international environmental protection. Through looking into the legal status of the CBDR and extracting both its practical and philosophical bases, this chapter attempts to establish the principle as a doctrinal basis for pursuing differential treatment. Also, it attempts to examine the limits and boundaries to the application of the said principle.
Christopher Dow
- Published in print:
- 2000
- Published Online:
- November 2003
- ISBN:
- 9780199241231
- eISBN:
- 9780191596179
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199241236.003.0009
- Subject:
- Economics and Finance, Macro- and Monetary Economics
This chapter covers the period of accelerating growth experienced the UK in the late 1980s, particularly the years 1985–8, which was followed by a protracted decline into deep recession; other ...
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This chapter covers the period of accelerating growth experienced the UK in the late 1980s, particularly the years 1985–8, which was followed by a protracted decline into deep recession; other industrial countries went through something like the same phases, though with many differences in degree and timing, and these developments were everywhere unexpected––each stage came as a surprise, and forecasts were repeatedly wrong. In hindsight, the recession is widely seen to have resulted from the boom, a view with which this survey agrees. Once more, this recession was very different from its predecessors––each of the two 1970s recessions seemed due in large part to external shocks, but on this latest occasion, it now seems clear that the causes of the recession grew out of previous developments in the domestic economy, which at the time lay undetected. The explanation proposed agrees with the common view that the recession was not due to exogenous shocks of the normal sort, but attributes the boom to over‐optimism rather than (as often argued) to financial deregulation. Section 9.1 sets out this thesis more fully before going on to describe the evidence that bears on it; Sect. 9.2 summarizes the parallel fluctuations in other industrial countries, since they are an important part of the background; Sect. 9.3 then gives an analysis of boom and recession in the UK; Sect. 9.4 considers what the experience of this decade contributes to our understanding of recessions; and Sect. 9.5 discusses the resumption of growth after the recession.Less
This chapter covers the period of accelerating growth experienced the UK in the late 1980s, particularly the years 1985–8, which was followed by a protracted decline into deep recession; other industrial countries went through something like the same phases, though with many differences in degree and timing, and these developments were everywhere unexpected––each stage came as a surprise, and forecasts were repeatedly wrong. In hindsight, the recession is widely seen to have resulted from the boom, a view with which this survey agrees. Once more, this recession was very different from its predecessors––each of the two 1970s recessions seemed due in large part to external shocks, but on this latest occasion, it now seems clear that the causes of the recession grew out of previous developments in the domestic economy, which at the time lay undetected. The explanation proposed agrees with the common view that the recession was not due to exogenous shocks of the normal sort, but attributes the boom to over‐optimism rather than (as often argued) to financial deregulation. Section 9.1 sets out this thesis more fully before going on to describe the evidence that bears on it; Sect. 9.2 summarizes the parallel fluctuations in other industrial countries, since they are an important part of the background; Sect. 9.3 then gives an analysis of boom and recession in the UK; Sect. 9.4 considers what the experience of this decade contributes to our understanding of recessions; and Sect. 9.5 discusses the resumption of growth after the recession.
Matti Pohjola (ed.)
- Published in print:
- 2001
- Published Online:
- October 2011
- ISBN:
- 9780199243983
- eISBN:
- 9780191697319
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199243983.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
The often-advocated view that the information technology revolution will change the world must stem from the basic premise that investment in IT has a visible impact on productivity and economic ...
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The often-advocated view that the information technology revolution will change the world must stem from the basic premise that investment in IT has a visible impact on productivity and economic growth. But how can we measure this impact and how large is it? By surveying previous studies and by presenting new micro- and macroeconomic evidence, this collection of chapters shows that in recent years the use of IT in the production of goods and services has had a strong influence on productivity and economic growth in industrial and in newly industrialized countries. Yet developing countries seem neither to have invested in IT nor benefited from such investments to the same extent as industrial countries. There is concern that information is becoming a commodity, like income and wealth, by which countries are classified as rich and poor. The chapters in this volume argue that investment in infrastructure, physical capital, and education are key to economic development and that the IT content of these investments should be high. Besides providing citizens with access to IT and to IT education and training, governments should promote participation in the information society, thus generating a sufficiently strong demand base for information products. By developing advanced applications of IT, and by becoming a model for the private sector, governments can alter worker, firm, and consumer attitudes, and lower their costs of adopting IT. The use of IT, not necessarily its production, is what matters for economic development.Less
The often-advocated view that the information technology revolution will change the world must stem from the basic premise that investment in IT has a visible impact on productivity and economic growth. But how can we measure this impact and how large is it? By surveying previous studies and by presenting new micro- and macroeconomic evidence, this collection of chapters shows that in recent years the use of IT in the production of goods and services has had a strong influence on productivity and economic growth in industrial and in newly industrialized countries. Yet developing countries seem neither to have invested in IT nor benefited from such investments to the same extent as industrial countries. There is concern that information is becoming a commodity, like income and wealth, by which countries are classified as rich and poor. The chapters in this volume argue that investment in infrastructure, physical capital, and education are key to economic development and that the IT content of these investments should be high. Besides providing citizens with access to IT and to IT education and training, governments should promote participation in the information society, thus generating a sufficiently strong demand base for information products. By developing advanced applications of IT, and by becoming a model for the private sector, governments can alter worker, firm, and consumer attitudes, and lower their costs of adopting IT. The use of IT, not necessarily its production, is what matters for economic development.
Lavanya Rajamani
- Published in print:
- 2006
- Published Online:
- March 2012
- ISBN:
- 9780199280704
- eISBN:
- 9780191700132
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199280704.003.0002
- Subject:
- Law, Environmental and Energy Law, Public International Law
To further the study of differential treatments within international environmental agreements, this chapter looks into the several different aspects of differential treatment in international law. ...
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To further the study of differential treatments within international environmental agreements, this chapter looks into the several different aspects of differential treatment in international law. Also, since differential treatment may manifest itself either implicitly or explicitly and through different degrees, this chapter also examines the different needs for such differential treatment. This chapter presents an illustrative survey that shows how differential treatment is evident in different parts of international law, how differential treatment would probably bring about better effects across different countries in different international regimes, and how various controversies are encountered in attempts to establish and push through with such differential treatment. In this chapter, differential treatment in industrial countries is distinguished from that in developing countries so that the factors and characteristics of the two setups — in terms of various laws like economic law, international development law, human rights law, disarmament law and international arms control — may be emphasized.Less
To further the study of differential treatments within international environmental agreements, this chapter looks into the several different aspects of differential treatment in international law. Also, since differential treatment may manifest itself either implicitly or explicitly and through different degrees, this chapter also examines the different needs for such differential treatment. This chapter presents an illustrative survey that shows how differential treatment is evident in different parts of international law, how differential treatment would probably bring about better effects across different countries in different international regimes, and how various controversies are encountered in attempts to establish and push through with such differential treatment. In this chapter, differential treatment in industrial countries is distinguished from that in developing countries so that the factors and characteristics of the two setups — in terms of various laws like economic law, international development law, human rights law, disarmament law and international arms control — may be emphasized.
Lavanya Rajamani
- Published in print:
- 2006
- Published Online:
- March 2012
- ISBN:
- 9780199280704
- eISBN:
- 9780191700132
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199280704.001.0001
- Subject:
- Law, Environmental and Energy Law, Public International Law
The history of international environmental dialogue is a history of conflict between developing and industrial countries encompassing the framework, nature, and agenda of international environmental ...
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The history of international environmental dialogue is a history of conflict between developing and industrial countries encompassing the framework, nature, and agenda of international environmental law. The conflict is focused on who should take responsibility, in what measure, and under what conditions to contain global environmental degradation. In the face of inequality in resources and contributions to global environmental degradation, sovereign states have crafted a burden sharing arrangement rooted in differential treatment. Differential treatment refers to the use of norms that provide for different, more advantageous, treatment to some states. Real differences exist between states, and the norms of differential treatment recognize and respond to these differences by instituting different standards for different states or groups of states. This book explores the value of differential treatment in integrating developing countries into international environmental regimes. It systematically categorizes and analyses the terms of integration, respecting differential treatment across new generation environmental treaties. It ferrets out the philosophical and practical bases for differential treatment in environmental treaties, and creates a framework within which differential treatment can be assessed. It suggests certain boundaries to differential treatment in international environmental law, and explores in detail the reach of differential treatment in the climate regime. The conflict between industrial and developing countries has thus far significantly impaired the ambition of the international environmental agenda. The relevance of this book lies in its ability to provide a principled framework within which the conflict between industrial and developing countries in the international environmental realm can be examined and resolved.Less
The history of international environmental dialogue is a history of conflict between developing and industrial countries encompassing the framework, nature, and agenda of international environmental law. The conflict is focused on who should take responsibility, in what measure, and under what conditions to contain global environmental degradation. In the face of inequality in resources and contributions to global environmental degradation, sovereign states have crafted a burden sharing arrangement rooted in differential treatment. Differential treatment refers to the use of norms that provide for different, more advantageous, treatment to some states. Real differences exist between states, and the norms of differential treatment recognize and respond to these differences by instituting different standards for different states or groups of states. This book explores the value of differential treatment in integrating developing countries into international environmental regimes. It systematically categorizes and analyses the terms of integration, respecting differential treatment across new generation environmental treaties. It ferrets out the philosophical and practical bases for differential treatment in environmental treaties, and creates a framework within which differential treatment can be assessed. It suggests certain boundaries to differential treatment in international environmental law, and explores in detail the reach of differential treatment in the climate regime. The conflict between industrial and developing countries has thus far significantly impaired the ambition of the international environmental agenda. The relevance of this book lies in its ability to provide a principled framework within which the conflict between industrial and developing countries in the international environmental realm can be examined and resolved.
- Published in print:
- 2012
- Published Online:
- June 2013
- ISBN:
- 9780804780544
- eISBN:
- 9780804781916
- Item type:
- chapter
- Publisher:
- Stanford University Press
- DOI:
- 10.11126/stanford/9780804780544.003.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This introductory chapter discusses the theme of this volume which is about health technologies and the health market in late industrial countries. This volume is divided into three sections. The ...
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This introductory chapter discusses the theme of this volume which is about health technologies and the health market in late industrial countries. This volume is divided into three sections. The first section lays out the core arguments on development and regulation beyond market-failure arguments, the second provides the empirical core of the three markets and their submarket environments of Indian pharmaceuticals during the period from 1950 to 2000, and the final section analyzes health technologies from a global perspective. This volume also considers issues concerning the development of industrial capabilities in late industrializers, the politics of their access, and their geography of production and redistribution.Less
This introductory chapter discusses the theme of this volume which is about health technologies and the health market in late industrial countries. This volume is divided into three sections. The first section lays out the core arguments on development and regulation beyond market-failure arguments, the second provides the empirical core of the three markets and their submarket environments of Indian pharmaceuticals during the period from 1950 to 2000, and the final section analyzes health technologies from a global perspective. This volume also considers issues concerning the development of industrial capabilities in late industrializers, the politics of their access, and their geography of production and redistribution.
Philip Martin, Manolo Abella, and Christiane Kuptsch
- Published in print:
- 2006
- Published Online:
- October 2013
- ISBN:
- 9780300109047
- eISBN:
- 9780300129960
- Item type:
- chapter
- Publisher:
- Yale University Press
- DOI:
- 10.12987/yale/9780300109047.003.0003
- Subject:
- Economics and Finance, History of Economic Thought
This chapter examines guest worker programs that admit foreign professionals for employment in health care and high-tech and similar industries and occupations, discussing how professional, ...
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This chapter examines guest worker programs that admit foreign professionals for employment in health care and high-tech and similar industries and occupations, discussing how professional, technical, and kindred or related workers are those with at least a college or university degree or equivalent work experience. A key characteristic of professionals is that they have education and training that takes time to acquire, so their number cannot be increased quickly unless trained workers who are not employed in their field of training are induced to rejoin the workforce. The chapter reveals that during the 1990s, most industrial countries made it easier for foreign professionals to enter and work temporarily or permanently in response to the Internet-related economic boom. It argues that most economists believe that attracting immigrant professionals is good for destination countries because such immigrants raise incomes and growth rates in three major ways.Less
This chapter examines guest worker programs that admit foreign professionals for employment in health care and high-tech and similar industries and occupations, discussing how professional, technical, and kindred or related workers are those with at least a college or university degree or equivalent work experience. A key characteristic of professionals is that they have education and training that takes time to acquire, so their number cannot be increased quickly unless trained workers who are not employed in their field of training are induced to rejoin the workforce. The chapter reveals that during the 1990s, most industrial countries made it easier for foreign professionals to enter and work temporarily or permanently in response to the Internet-related economic boom. It argues that most economists believe that attracting immigrant professionals is good for destination countries because such immigrants raise incomes and growth rates in three major ways.
Jeffrey A. Frankel, Nouriel Roubini, Mervyn King, Robert Rubin, and George Soros
- Published in print:
- 2003
- Published Online:
- February 2013
- ISBN:
- 9780226241098
- eISBN:
- 9780226241104
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226241104.003.0004
- Subject:
- Economics and Finance, International
This chapter examines the impact of the financial policies of industrial countries on the financial crises in emerging market economies. It analyzes the macroeconomic policies of the Group of Seven ...
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This chapter examines the impact of the financial policies of industrial countries on the financial crises in emerging market economies. It analyzes the macroeconomic policies of the Group of Seven (G7) countries and the role of the G7 and the International Monetary Fund (IMF) in the management of international crises. This chapter identifies macroeconomic variables in industrialized countries that have major short-term impact on developing countries including growth rates, real interest rates and exchange rates.Less
This chapter examines the impact of the financial policies of industrial countries on the financial crises in emerging market economies. It analyzes the macroeconomic policies of the Group of Seven (G7) countries and the role of the G7 and the International Monetary Fund (IMF) in the management of international crises. This chapter identifies macroeconomic variables in industrialized countries that have major short-term impact on developing countries including growth rates, real interest rates and exchange rates.
Maria Charles and Karen Bradley
- Published in print:
- 2006
- Published Online:
- August 2013
- ISBN:
- 9780262033459
- eISBN:
- 9780262255929
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262033459.003.0006
- Subject:
- Business and Management, Information Technology
Research has shown that women are strongly underrepresented in computer-related degree programs and occupations in the United States. This chapter contributes an international comparative perspective ...
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Research has shown that women are strongly underrepresented in computer-related degree programs and occupations in the United States. This chapter contributes an international comparative perspective to this body of scholarship by presenting data on the gender composition of computer science programs of study in twenty-one industrial countries. It shows that gender segregation of the computer science field is one form of inequality that is alive and well in contemporary industrial societies.Less
Research has shown that women are strongly underrepresented in computer-related degree programs and occupations in the United States. This chapter contributes an international comparative perspective to this body of scholarship by presenting data on the gender composition of computer science programs of study in twenty-one industrial countries. It shows that gender segregation of the computer science field is one form of inequality that is alive and well in contemporary industrial societies.
Caroline Freund and Frank Warnock
- Published in print:
- 2007
- Published Online:
- February 2013
- ISBN:
- 9780226107264
- eISBN:
- 9780226107288
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226107288.003.0005
- Subject:
- Economics and Finance, Financial Economics
This chapter investigates the episodes of current account adjustment in industrial countries. The data support the claims that the size of the current account deficit and the extent to which it is ...
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This chapter investigates the episodes of current account adjustment in industrial countries. The data support the claims that the size of the current account deficit and the extent to which it is financing consumption matter for adjustment. Larger deficits take longer to resolve and are linked with relatively slower income growth during recovery. There is no evidence that the growth in the fiscal balance influences gross domestic product (GDP) growth relative to long-run average. There is a strong inverse correlation between the extent of exchange rate adjustment and the slowdown in GDP growth. Financing does not significantly matter for the adjustment process, indicating that markets are efficient at intermediating funds. The status of the dollar as the reserve currency has crucial implications for adjustment. Deficits driven by investment growth are more benign in terms of exchange rate adjustment than deficits driven by consumption or fiscal spending.Less
This chapter investigates the episodes of current account adjustment in industrial countries. The data support the claims that the size of the current account deficit and the extent to which it is financing consumption matter for adjustment. Larger deficits take longer to resolve and are linked with relatively slower income growth during recovery. There is no evidence that the growth in the fiscal balance influences gross domestic product (GDP) growth relative to long-run average. There is a strong inverse correlation between the extent of exchange rate adjustment and the slowdown in GDP growth. Financing does not significantly matter for the adjustment process, indicating that markets are efficient at intermediating funds. The status of the dollar as the reserve currency has crucial implications for adjustment. Deficits driven by investment growth are more benign in terms of exchange rate adjustment than deficits driven by consumption or fiscal spending.
Klaus-Jürgen Gern
- Published in print:
- 2002
- Published Online:
- February 2013
- ISBN:
- 9780226241081
- eISBN:
- 9780226241913
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226241913.003.0016
- Subject:
- Economics and Finance, Public and Welfare
The reform of public pension systems has become an increasingly urgent topic on the political agenda in most Organization for Economic Cooperation and Development (OECD) countries, because it has ...
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The reform of public pension systems has become an increasingly urgent topic on the political agenda in most Organization for Economic Cooperation and Development (OECD) countries, because it has become evident in recent years that, given the progressive aging of the population, existing pension plans are fiscally unsustainable under prevailing rules. Against that background, this chapter gives an account of the present state of the matter in an international perspective, centering on the industrial countries. The chapter is organized as follows. Section 14.1 summarizes the main findings of the country-by-country analysis that follows in subsequent sections. Section 14.2 briefly sketches the main characteristics of the pension systems of seventeen industrial countries and gives information on recent reforms. Section 14.3 covers developments in other parts of the world (namely in Central and Eastern Europe, East Asia, and Latin America).Less
The reform of public pension systems has become an increasingly urgent topic on the political agenda in most Organization for Economic Cooperation and Development (OECD) countries, because it has become evident in recent years that, given the progressive aging of the population, existing pension plans are fiscally unsustainable under prevailing rules. Against that background, this chapter gives an account of the present state of the matter in an international perspective, centering on the industrial countries. The chapter is organized as follows. Section 14.1 summarizes the main findings of the country-by-country analysis that follows in subsequent sections. Section 14.2 briefly sketches the main characteristics of the pension systems of seventeen industrial countries and gives information on recent reforms. Section 14.3 covers developments in other parts of the world (namely in Central and Eastern Europe, East Asia, and Latin America).
Philip R. Lane and Gian Maria Milesi-Ferretti
- Published in print:
- 2007
- Published Online:
- February 2013
- ISBN:
- 9780226107264
- eISBN:
- 9780226107288
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226107288.003.0003
- Subject:
- Economics and Finance, Financial Economics
This chapter explores the increased dispersion in net external positions in recent years, particularly among industrial countries. Return differentials between external assets and liabilities can ...
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This chapter explores the increased dispersion in net external positions in recent years, particularly among industrial countries. Return differentials between external assets and liabilities can potentially exert significant impacts on the dynamics of net foreign assets. There is some evidence that a shift in returns is connected with a subsequent change in the level of capital flows. The analysis of relative rates of return and capital flows reveals that U.S. residents have consistently earned higher returns on their assets than they pay out on their liabilities. It also shows that the real dollar returns on foreign investment in the United States have on average been negative over the past four years and even more so when expressed in the currencies of most foreign investor countries. Since 2000, capital flows to the United States have shifted toward fixed-rate (and low-yield) debt instruments and away from equities.Less
This chapter explores the increased dispersion in net external positions in recent years, particularly among industrial countries. Return differentials between external assets and liabilities can potentially exert significant impacts on the dynamics of net foreign assets. There is some evidence that a shift in returns is connected with a subsequent change in the level of capital flows. The analysis of relative rates of return and capital flows reveals that U.S. residents have consistently earned higher returns on their assets than they pay out on their liabilities. It also shows that the real dollar returns on foreign investment in the United States have on average been negative over the past four years and even more so when expressed in the currencies of most foreign investor countries. Since 2000, capital flows to the United States have shifted toward fixed-rate (and low-yield) debt instruments and away from equities.
Takatoshi Ito Ito and Anne O. Krueger (eds)
- Published in print:
- 2001
- Published Online:
- February 2013
- ISBN:
- 9780226386768
- eISBN:
- 9780226387017
- Item type:
- book
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226387017.001.0001
- Subject:
- Economics and Finance, International
The volume of capital flows between industrial and developing countries has grown dramatically in the past decade and has become a major issue in a world that is increasingly “globalized.” Here, two ...
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The volume of capital flows between industrial and developing countries has grown dramatically in the past decade and has become a major issue in a world that is increasingly “globalized.” Here, two experts on this topic have assembled a group of scholars who address different types of capital flows—bank lending, bonds, direct foreign investment—and the implications they hold for economic performance. With its particular focus on the Asian financial crises, this work presents a new model which is concerned with the role of private capital flows.Less
The volume of capital flows between industrial and developing countries has grown dramatically in the past decade and has become a major issue in a world that is increasingly “globalized.” Here, two experts on this topic have assembled a group of scholars who address different types of capital flows—bank lending, bonds, direct foreign investment—and the implications they hold for economic performance. With its particular focus on the Asian financial crises, this work presents a new model which is concerned with the role of private capital flows.
Vernon W. Ruttan
- Published in print:
- 2011
- Published Online:
- April 2015
- ISBN:
- 9780199754359
- eISBN:
- 9780190261320
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:osobl/9780199754359.003.0013
- Subject:
- Economics and Finance, Macro- and Monetary Economics
This chapter talks about the challenges of making the transition to sustainable growth in developed and low-income countries in the 21st century. It focuses on the debate whether the transition will ...
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This chapter talks about the challenges of making the transition to sustainable growth in developed and low-income countries in the 21st century. It focuses on the debate whether the transition will be accompanied by levels of material and energy consumption in poor countries comparable to the levels achieved by industrial countries. The chapter concludes with issues of how much land will be left to nature after meeting the demands for agricultural commodities and the demands for environmental services arising out of population and income growth.Less
This chapter talks about the challenges of making the transition to sustainable growth in developed and low-income countries in the 21st century. It focuses on the debate whether the transition will be accompanied by levels of material and energy consumption in poor countries comparable to the levels achieved by industrial countries. The chapter concludes with issues of how much land will be left to nature after meeting the demands for agricultural commodities and the demands for environmental services arising out of population and income growth.
Takatoshi Ito and Anne O. Krueger
- Published in print:
- 2004
- Published Online:
- February 2013
- ISBN:
- 9780226386799
- eISBN:
- 9780226386966
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226386966.003.0001
- Subject:
- Economics and Finance, South and East Asia
After several decades in which public-sector enterprises (PSEs) played large and often increasing roles in national economies in most countries in the world, the past two decades have seen a ...
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After several decades in which public-sector enterprises (PSEs) played large and often increasing roles in national economies in most countries in the world, the past two decades have seen a reversal. In industrial countries, privatization efforts started in the late 1970s and 1980s as concerns with the efficiency and cost-effectiveness of state-owned enterprises mounted. In the early 1990s, the collapse of the command economies of the former Soviet Union and of Eastern Europe also resulted in strong pressures for rapid privatization in those countries. However, privatization did not always proceed smoothly. This volume analyzes some of the main lessons from privatization in the East Asian region. An overview of the subsequent chapters is presented.Less
After several decades in which public-sector enterprises (PSEs) played large and often increasing roles in national economies in most countries in the world, the past two decades have seen a reversal. In industrial countries, privatization efforts started in the late 1970s and 1980s as concerns with the efficiency and cost-effectiveness of state-owned enterprises mounted. In the early 1990s, the collapse of the command economies of the former Soviet Union and of Eastern Europe also resulted in strong pressures for rapid privatization in those countries. However, privatization did not always proceed smoothly. This volume analyzes some of the main lessons from privatization in the East Asian region. An overview of the subsequent chapters is presented.
