This Research Handbook offers contextualized perspectives on entrepreneurship in emerging economies. Emphasizing how national context profoundly shapes incentives for entrepreneurial efforts, chapters dissect the opportunities emerging from various institutions and social practices from the Middle East, North and Sub-Saharan Africa, Asia and Latin America. This Handbook is an ideal guide for researchers working on emerging economies, particularly those with an interest in global entrepreneurship.
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A Contextualized Approach
Edited by Paresha Sinha, Jenny Gibb, Michèle Akoorie and Jonathan M. Scott
Exploring the Causes and Remedies of Japanization
Edited by Dongchul Cho, Takatoshi Ito and Andrew Mason
Japan’s dramatic transformation from economic success to economic stagnation offers important policy lessons to advanced countries everywhere that are struggling with stagnation. The term ‘Japanization’ is often used by economists to describe long-term stagnation and deflation. Symptoms include high unemployment, weak economic activity, interest rates near zero, quantitative easing, and population aging. In the global context, what can governments do to mitigate the downward trends experienced by Japan? This judiciously timed book investigates in depth the causes of Japan’s ‘lost decades’ versus the real recovery achieved by the United States, and the lessons that can be learned.
Achieving Fiscal Sustainability
Edited by Naoyuki Yoshino and Peter J. Morgan
Sustainable and inclusive growth in emerging Asian economies requires high levels of public investment in areas such as infrastructure, education, health, and social services. The increasing complexity and regional diversity of these investment needs, together with the trend of democratization, has led to fiscal decentralization being implemented in many Asian economies. This book takes stock of some major issues regarding fiscal decentralization, including expenditure and revenue assignments, transfer programs, and sustainability of local government finances, and develops important findings and policy recommendations.
Towards a Capitalist Manifesto
This book makes the bold attempt at proposing a new general theory of economic development. The main premise is that economic institutions and policies must embody ‘economic discrimination’ if there is to be any chance of real economic development. By economic discrimination, the author means ‘treating differences differently’ by selecting and supporting economic entities and behaviour that contribute positively to the economy. The book identifies markets, government and corporations as the ‘holy trinity of economic development’, that is, the three most important institutions that must work together via economic discrimination to steer the economy towards real transformative progress. The book also warns against the current trend of economic egalitarianism or ‘not treating differences differently’ because it destroys economic incentives and results in an array of economic problems including growth stagnation.
Impressive Accomplishments or Incomplete Achievements?
Edited by Jacques Silber and Guanghua Wan
Following rapid economic growth in recent decades, Asia and the Pacific experienced an impressive reduction in extreme poverty, but this drop was not uniform and achievements are still incomplete. Vulnerability to natural disasters, the increasing impact of climate change and economic crises should all be taken into account. There is also a need to consider the multidimensional nature of poverty and the non-uniformity of the decrease across different ethnic groups. This book explores the Asian ‘poverty miracle’ and argues for the development and use of an Asia-specific poverty line.
The Path to Development and Macroeconomic Stability in Korea
This book elaborates upon the dynamic changes to Korean firms and the economy from the perspective of catch-up theory. The central premise of the book is that a latecomer’s sustained catch-up is not possible by simply following the path of the forerunners but by creating a new path or ‘leapfrogging’. In this sense, the idea of catch-up distinguishes itself from traditional views that focus on the role of the market or the state in development.
Infrastructure for Integrating South and Southeast Asia
Edited by Michael G. Plummer, Peter J. Morgan and Ganeshan Wignaraja
This book analyses how closer regional connectivity and economic integration between South Asia and Southeast Asia can benefit both regions, with a focus on the role played by infrastructure and public policies in facilitating this process. Country studies of national connectivity issues and policies cover Bangladesh, India, Myanmar, Nepal, Sri Lanka and Thailand, examining major developments in South Asia–Southeast Asia trade and investment, economic cooperation, the role of economic corridors, and regional cooperation initiatives. Thematic chapters explore investment in land and sea transport infrastructure, trade facilitation, infrastructure investment financing, supporting national and regional policies, and model-based estimates of the benefits of integration. Employing a state-of-the-art computable general equilibrium (CGE) model, the book provides a detailed an up-to-date discussion of issues, innovations and progress.
Challenges Facing the People’s Republic of China
Edited by Juhzon Zhuang, Paul Vandenberg and Yiping Huang
The growth model of the People’s Republic of China has been based on high investments, exports, low-cost advantage, and government interventions. This model has successfully transformed the country from a low-income to an upper middle-income economy. However, the model has generated contradictions that could undermine future growth. Making the transition to high income requires greater reliance on efficiency and productivity improvement, innovation, and market competition. This book examines the challenges faced by the People’s Republic of China in sustaining robust growth, and policy options for making a successful transition to a high-income economy to avoid getting caught in the middle-income trap.
Firm Strategy and Industrial Development in China
Edited by Mariko Watanabe
In the past two decades, China has experienced rapid industrial and economic growth. This fascinating book explores the unique Chinese business strategy of vigorous market entry and low prices, which has been the key feature of this accelerated industrial growth.
Policy Insights from Comparative Analyses in Asia
Khuong Minh Vu
The advancement of a nation from poverty to prosperity is not a technical process but a great transformation. At the center of this change are two driving forces – emotion, which is referred to as aspiration, anxiety, and sense of responsibility; and enlightenment, which is associated with the freedom from dogmatism, open-mindedness, and the hunger for learning. It is these two factors that have determined not only the remarkable success of Asia in economic development but also the uniqueness of its growth model. This book examines the rise of Asia in the past two decades and draws lessons from its growth patterns.