As globalization continues apace, market segmentations are diminishing, distance is shrinking and the boundaries between nation states are becoming increasingly blurred. National economies are closely interlinked through manychannels and we rarely view things from a single country’s view, adopting a global perspective instead. It is therefore imperative to understand how the world economy functions.
This book utilizes up to date empirical evidence to illuminate the mechanics of the world as a single entity. The author explores the properties of the world economy, the diverse mechanisms of interdependence, shocks and disturbances, economic processes and structures, and the institutional arrangements that guide these processes. Key topics covered include:
- world GDP, growth and global product and factor markets
- China as a new global player
- the roots and impact of financial and currency crises
- the performance of the developing countries over time (which have gained, which have lost?)
- conflicts between the national interest and global concerns (protectionism, locational competition for mobile factors of production, environmental issues)
- the institutional arrangements for the world economy (IMF, WTO).
The World Economy: A Global Analysis will be essential reading for students studying the world economy from the perspective of economics, finance, business and politics.
Table of Contents
1. The global View 2. The World Product Markets 3. The Factor Markets in the World Economy 4. Growth Processes in the World Economy 5. Global Money and Currency Markets 6. Financial Crises 7. Currency Crises 8. How to Prevent a Monetary Financial Crisis 9. Developing Countries 10. The Transformation Countries 11. Regional Integration in the World Economy 12. The European Union 13. National protectionism Versus WorldWide Free Trade 14. Locational Competition 15. Using the National and Global Environment 16. An Institutional Order for the World Economy