The Princeton Encyclopedia of the World Economy. (Two volume set)

The Princeton Encyclopedia of the World Economy. (Two volume set)

Kenneth A. Reinert
Ramkishen S. Rajan
Amy Jocelyn Glass
Lewis S. Davis
Copyright Date: 2009
Pages: 1328
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  • Book Info
    The Princeton Encyclopedia of the World Economy. (Two volume set)
    Book Description:

    Increasing economic globalization has made understanding the world economy more important than ever. From trade agreements to offshore outsourcing to foreign aid, this two-volume encyclopedia explains the key elements of the world economy and provides a first step to further research for students and scholars in public policy, international studies, business, and the broader social sciences, as well as for economic policy professionals.

    Written by an international team of contributors, this comprehensive reference includes more than 300 up-to-date entries covering a wide range of topics in international trade, finance, production, and economic development. These topics include concepts and principles, models and theory, institutions and agreements, policies and instruments, analysis and tools, and sectors and special issues. Each entry includes cross-references and a list of sources for further reading and research. Complete with an index and a table of contents that groups entries by topic,The Princeton Encyclopedia of the World Economyis an essential resource for anyone who needs to better understand the global economy.


    More than 300 alphabetically arranged articles on topics in international trade, finance, production, and economic developmentInternational team of contributorsAnnotated list of further reading with each articleTopical list of entriesFull index and cross-references

    Entry categories and sample topics:

    Concepts and principles: globalization, anti-globalization, fair trade, foreign direct investment, international migration, economic development, multinational enterprisesModels and theory: Heckscher-Ohlin model, internalization theory, New Trade Theory, North-South trade, Triffin dilemmaInstitutions and agreements: European Union, International Monetary Fund, World Trade Organization, World Bank, Doha Round, international investment agreementsPolicies and instruments: dollar standard, international aid, sanctions, tariffsAnalysis and tools: exchange rate forecasting, effective protection, monetary policy rulesSectors and special issues: child labor, corporate governance, the digital divide, health and globalization, illegal drugs trade, petroleum, steel

    eISBN: 978-1-4008-3040-4
    Subjects: Political Science, Business

Table of Contents

  1. Front Matter
    (pp. i-iv)
  2. Table of Contents
    (pp. v-vi)
  3. Volume I
    • Introduction
      (pp. vii-xii)

      The world economy, that collection of human activities spanning national borders, touches us all. The banking executive organizing global financial services and the poor agricultural worker cultivating an export crop are both strongly influenced by global economic forces beyond their control. The banking executive operates within a financial services protocol of the World Trade Organization and in financial markets that increase in importance with every passing year and yet remain stubbornly volatile in new and not always predictable ways. The agricultural worker sees her fortunes rise and fall with the world price of the export crop she produces and the...

    • Alphabetical List of Entries
      (pp. xiii-xviii)
    • Topical List of Entries
      (pp. xix-xxiv)
    • Directory of Contributors
      (pp. xxv-xliv)
    • Entries A–H
      (pp. 1-ii)

      A country is said to have an absolute advantage over another country in the production of a good or service if it can produce that good or service (the ‘‘output’’) using fewerrealresources (like capital or labor, the ‘‘inputs’’). Equivalently, using the same inputs, the country can produce more output. The concept of absolute advantage can also be applied to other economic entities, such as regions, cities, or firms, but we will focus attention on countries, specifically in relation to their production decisions and international trade flows. The fallacy of equating absolute advantages with cost advantages is a never-ending...

  4. Volume II
    • Middle Matter
      (pp. iii-vi)
    • Alphabetical List of Entries
      (pp. vii-xii)
    • Topical List of Entries
      (pp. xiii-xviii)
    • Directory of Contributors
      (pp. xix-xxxviii)
    • Entries I–Z
      (pp. 611-1202)

      Despite the lack of reliable estimates on other illegal markets, the trade in prohibited narcotics and other psychoactive drugs is generally considered to be the illegal activity with the largest turnover worldwide. The2005 World Drug Reportof the United Nations Office on Drugs and Crime (UNODC) includes a systematic effort to produce a comprehensive set of estimates. For illicit drugs as a whole, the UNODC estimates a total of almost $322 billion in retail sales in 2003; $94 billion in wholesale revenues; and $13 billion in producer sales (UNODC 2005).

      The largest market, according to the UN calculations, is...

  5. Index
    (pp. 1203-1246)