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Bridge to a Global Middle Class Development, Trade and International Finance

ISBN-10: 1402073291

ISBN-13: 9781402073298

Edition: 2003

Authors: Walter Russell Mead, Sherle R. Schwenninger

List price: $349.99
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Description:

This collection of papers draws on a study into ways to encourage the evolution of middle-class oriented economic development in emerging market countries. The aim of the study was to find ways to improve the standard of living in developing countries.
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Book details

List price: $349.99
Copyright year: 2003
Publisher: Springer
Publication date: 12/31/2002
Binding: Hardcover
Pages: 665
Size: 6.25" wide x 9.25" long x 1.75" tall
Weight: 2.794
Language: English

Table of Contents
Note from the Editors
Contributors
Acknowledgments
A Financial Architecture for Middle-Class-Oriented Development (Mead and Schwenninger)
Executive Summary
The Case for Middle-Class-Oriented Development
Obstacles to Middle-Class-Oriented Development
Toward a New International Financial Architecture
Conclusion: The Politics of International Financial Architecture
Making Dollarization Work
Private Capital Flows, Emerging Economies, and International Financial Architecture (Yago)
Introduction
Contagion as Metaphor
The Integration of Global Capital Markets
Deconstructing Global Financial Architecture Proposals
Building the Financial Infrastructure for Middle Class Emerging Economies (D'Arista)
Introduction
Building on Past Structures and Programs
Building on Existing Structures and Trends
Structuring Pension Funds in Emerging Economies for Growth and Development
Reforming the International Monetary and Financial Architecture to Promote Domestic Demand-Driven Growth in Emerging Economies
Conclusion
Capital Flows and the International Financial Architecture (Eatwell and Taylor)
Capital Flows and the International Financial Architecture
Liberal Capital Markets in History
The Breakdown of Financial Regulation
Actual and Potential Problems in Industrialized Economies
The Performance of the Private Sector
The Performance of the Public Sector
Governments in Search of Credibility
The Position of the United States
The American Predicament
External Dangers?
Developing and Transition Economies
Exchange Rates
Dealing with the Problems At Hand
Bands
Capital Controls
Managing Global Financial Risk
A World Financial Authority
Macroeconomic Regulation and Risk Management
Microeconomic Regulation and Risk Management
The Way Forward
Bibliography
Solving the Currency Conundrum (Eichengreen)
Introduction
Going to Extremes
The Backlash
Which Alternative?
Monetary Union
Achieving Greater Flexibility in Emerging Markets
G-3 Target Zones
How the International Monetary System Will Look in Twenty Years
The Diminishing Returns to Export-Led Growth (Blecker)
Prologue: The Sudden Collapse of the Export-Led Economies
The Hypothesis: Statement and Qualifications
Literature Survey: Studies of Exports, Growth, and the Fallacy of Composition
Empirical Plausibility: A Preliminary Look at Export Growth Trends
Policy Implications: Which Way Out of the Dilemma?
The American Stock Market as a Financial Risk: A Discussion of Historic and Demographic Risks (Dugger, McNally and Medley)
Introduction
Trade, Development, and the Post-Cold War Transition
Household Balance Sheets and Generational Deleveraging
Macroeconomic Forecasts Including a Major Market Decline
Concluding Comments
Bibliography
Appendix
Reforming and Deepening Mexico's Financial Markets (Lopez-de-Silanes)
Introduction
Legal Protection for Investors
Enforcement of Laws
Consequences of Investor Protection
Reforms for Deepening Mexico's Financial Markets
Conclusion and Policy Implications
Tables
Bibliography
Economic Crisis and Corporate Reform in East Asia (Woo-Cumings)
Economic Crisis and Corporate Reform in East Asia
Northeast and Southeast Asia between the State and the "Sib-Fetters" of the Economy
Corporate Governance in Korea
Concentration and Diversification in the Korean Chaebol
Family Governance, Trust and Rule by Regulation
Family Governance: Part of the Problem or Part of the Solution?
Efforts at Corporate Reform in Korea
The Politics of Ethnicity and Corporate Governance in Southeast Asia
Conclusion
Bibliography
Cultural Contradictions of Post-Communism: Why Liberal Reforms Did Not Succeed in Russia (Khrushcheva)
Introduction
Russia's Bottom: The Culture of Envy
Russia's Top: Privatization Russian Style
Russia's Middle: Voices of Reason
Conclusion
Bibliography
Korea's Comeback: The Government's Predicament (Root)
Introduction
Financial System Reform
Business Reform
Labor Reform
Bibliography
Sustainable Development and the Open-door Policy in China (Galbraith and Lu)
Introduction
Budget Deficits and Cultural Revolution
Bottlenecks and Heavy Industry
The Agricultural Reform
Auxiliary Reforms in Light Industry and Commerce
The Second Phase: Urban Economic Reform 1984-88
The Transitory Period (1988-91): Adjustment and Crisis
The Third Round of Reforms: 1992-97
The Open Door Policy - What Was It?
The Role of the Open Door Policy
The Crisis of the 1990s
The Outlook and What is Required?
Bibliography
The Paradox of Free Market Democracy: Indonesia and the Problems Facing Neoliberal Reform (Chua)
Introduction
Background
Indonesia
Policy Implications