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An Essay on China’s Development After the Demographic Golden Age - Original PDF
An Essay on China’s Development After the Demographic Golden Age - Original PDF
نویسندگان: Xueyuan Tian خلاصه: Su Shi, a well-known ci poet of the Song Dynasty, wrote a seven-character quatrain: “It is a range viewed in face and peaks viewed from the side, assuming different shapes viewed from far and wide. Of Mountain Lu we cannot make out the true face, for we are lost in the heart of the very place”. The poem not only depicts the picturesque scenery of Mountain Lu and contains the dialectical idea that those closely involved in something cannot see it clearly, but also provides people with ways and means to observe things, giving the poem an enduring appeal. When we look at the past four million years of human evolution, the trajectory of humanity before they reach the pinnacles of achievements in economic, technological, cultural, and social dimensions today, we may find out there are three distinct eras. As is known to many, an economic era is not defined by what is produced, but by how and what kind of tools are used for production. As the production tools typical of an era vary, so does the capital an economy depends on for growth. We may roughly divide the economic development of humanity into three eras, characterized by hand tools and natural capital, by machine tools and production capital, and by intellectual tools and human capital, respectively. In the era of hand tools, agrarian and prior forms of society—which span from primitive, slave to feudal societies—relied mainly on natural capital. Natural capital provides natural means of living and production, and the multiplication of popula- tion is mainly reflected in the size of the workforce. Therefore, ancient and medieval civilizations appeared mostly in places with fertile land, abundant precipitation, mild climate, convenient land and water transportation, a dense population and large labor force. Cases in point are the five cradles of civilizations, namely, ancient Mesopotamia along the Tigris and Euphrates, ancient Egypt along the Nile Valley, ancient India along the Ganges River, ancient China along the Yellow River, and ancient Greece. The prosperity of the Seljuk Empire, the Russian Empire, and the French Empire in the Middle Ages could also be attributed to their superiority in natural capital and population
Helix Network Theory The Dynamic Structure and Evolution of Economy and Society Interdisciplinary Integrated Economics Creating a Brand New “Micro-Meso-Macro” Paradigm - Original PDF
Helix Network Theory The Dynamic Structure and Evolution of Economy and Society Interdisciplinary Integrated Economics Creating a Brand New “Micro-Meso-Macro” Paradigm - Original PDF
نویسندگان: Runyuan Gan خلاصه: Foreword by Gong-Meng Chen I first met and started working with Gan Runyuan, the author of the book, around April and May of 2002. Back then, I had just established the China Accounting and Finance Research Centre at Hong Kong Polytechnic University in Shenzhen. Because the research centre was not long established, it was necessary to introduce various talents. Gan Runyuan was one of the first groups of personnel recruited into the research centre. By 2003, with the active support of Cheng Si-Wei, I and my colleagues had founded the China Venture Capital Research Institute. During that period of time, Gan Runyuan worked as my assistant and participated in many tasks at the China Accounting and Finance Research Centre and China Venture Capital Research Institute. He was easy-going, serious in working, and I was always impressed. Later, Gan Runyuan left Shenzhen to Shanghai. However, he still kept in touch with me and participated in several forums organised by the China Venture Capital Research Institute. At the end of March this year, Gan visited Shenzhen. I learned that he had written an economics monograph, Helix Network Theory, and he invited me to write a preface to this book. He said that this is the ten-year brainchild of his toil, blood, and sweat. I did not expect him after leaving Shenzhen for more than ten years, not only reading that many books on economics and sociology but also spending quite a few years writing an econo
The Emergence of a Tradition: Essays in Honor of Jesús Huerta de Soto, Volume II Philosophy and Political Economy - Original PDF
The Emergence of a Tradition: Essays in Honor of Jesús Huerta de Soto, Volume II Philosophy and Political Economy - Original PDF
نویسندگان: David Howden • Philipp Bagus خلاصه: Only a small minority of people, in our experience, know what Jesús’s full name is. Due to some idiosyncrasies of Spanish naming conventions, this group is dominated by Spaniards. To aid the non-Spanish speaker, a brief explanation of his name is necessary. All Spanish surnames are composed of two parts. The first part is the father’s first surname, and the sec- ond is the mother’s first surname. The general form for all Spanish names becomes [first name] [paternal first surname] [maternal first surname]. Thus, all children have a different surname than their mothers and fathers, though this surname will include elements of both through their respective paternal branches. The children of Juan Garcia Fernandez and Sofia Gonzalez Martin, for example, would all have the surname Garcia Gonzalez. Jesús Huerta de Soto Ballester was born to Jesús Huerta Ballester and Concepción de Soto Acuña. His birth name was Jesús Huerta de Soto, and (after marrying Sonsoles Huarte) his children would have the surname Huerta Huarte. With six children, this linguistically challenging surname would have not been an isolated difficulty. After marriage, Jesús made the decision to legally change the order of his surnames. (This bureaucratic process is not straightforward, nor is it common.) As a result of this change, his first surname, Huerta de Soto, now includes elements of both his father’s and his mother’s names. His second surname, Ballester, is from his father. While the name remains essentially the same (Jesús Huerta de Soto at birth versus Jesús Huerta de Soto Ballester today), the change in ordering meant that the family name passed down to his children would be “Huerta de Soto” instead of “Huerta.” This also applies to their descendants. In all but the most formal situations in Spain, use of only the first surname
The Chinese Path Toward a Leaner Government - Original PDF
The Chinese Path Toward a Leaner Government - Original PDF
نویسندگان: Yining Li Zhiqiang Cheng Editors The Chinese Path Toward a Leaner Government The Chinese Path Toward a Leaner Government Yining Li · Zhiqiang Cheng خلاصه: Building a leaner government ( Jian Zheng Fang Quan , or “streamlining admin- istration and delegating powers” in the official translated documents) is essential in China’s transition from a planned economy to a market economy and in an effort to improve the country’s socialist market economy. People of our generation have all had some experiences with the planned economy. It was a time when the government managed everything from production to consump- tion. In other words, the government assumed the role of both the producer and distributor of goods. Little was outside the government administration. It set quotas that matched its plans and organized supplies according to the quotas. No one in China at that time had ever heard about the term Jian Zheng Fang Quan or stream- lining administration and delegating powers. In fact, it was impossible to streamline the government then because everything was controlled by the government, every decision had to come from the higher authorities, and all kinds of stuff were placed under the quota system. When a government assigned each of its staff with a particular task to either manage or supervise economic activities, how could it be streamlined? Power devolution was even more beyond imagination. The planned economy was based on the concentration of power. If power was delegated, how could the economy and people’s daily life go as the government had planned for them? Indeed, there were times when the Chinese government was concerned about the low efficiency and poor performance of the planned economy that too much concentration of power had entailed. However, there were no better ways. China had quite a few lessons learnt in a hard way. Trials to cut government power or remove some quota all ended up in market disorder. Shifting back to old practice only stifled the economy. Such policy flip-flops occurred time after time during the period of the planned economy. It was a doomed cycle that no one was able to brea
Digital Transformation of the Financial Industry Approaches and Applications - Original PDF
Digital Transformation of the Financial Industry Approaches and Applications - Original PDF
نویسندگان: Slađana Benković • Aleksandra Labus • Miloš Milosavljević خلاصه: Preface This book is aimed to be a collection of state-of-the-art research findings in digital transformations across the financial industry from the Central and East European markets. Digitalization is fundamentally changing financial services in the last few decades and tends to reshape the landscape of financial industry in an unprecedented manner. This book seeks to extend the concurrent body of knowledge on digital transformation in the financial industry by encompassing significant conceptual contributions, innovations in methods and techniques and by delineating the main applications of digital transformation in the CEE region. Although the books elaborating digital transformation in finance can be found in the market, these books dominantly focus on developed market. The aim of this book is to progress one-step forward—to focus on practice in developing and transitional/post- transitional countries. When any technology disrupts an industry, trailblazers are usually from the highly developed countries. Diffusion of tech-related disruption is, however, only rarely linear and uninterrupted. Thusly, we were highly motivated to collect the evidence on the development of fintech from the CEE countries. This book can serve to all important fintech stakeholders—students, academic community (with both technical and social science background), and practitioners (decision-makers and policy holders in various organizations of the financial sys- tems). As for the students, typical users are master or doctoral level of education with major subjects covering business, finance, accounting, economics, management science, and other fields in social science and/or engineering. As for the academic community, the book might be interesting for lecturers and scholars from CEE countries. Finally, the book is aimed at practitioners—economic analysts, informa- tion technology developers and information system experts, small investors, insti- tutional investors, as well as regulators of the financial system and national finance
Urban Infrastructure Globalization / Slowbalization - Original PDF
Urban Infrastructure Globalization / Slowbalization - Original PDF
نویسندگان: Remo Dalla Longa خلاصه: The book addresses the issue of urban infrastructures within globalization. Slowbal- ization is then introduced rather than deglobalization to indicate important variables that could stand in the way of a prevailing reading key in the book. Wiig et al (2022) argue that starting from a volume (Graham, Marvin, 2001 ) the study of infrastructures has been brought to the center of urban studies and has inspired the infrastructural turn within urban sciences. Infrastructures, and urban ones in particular, precisely because of their differentiation, specialisms, formulas and organizational models that underlie their assembly, governance and management have always appeared residual compared to other themes such as the city, urbaniza- tion, the form urban, competitive advantage, applied globalization; or on another more technical side, specialisms such as engineering or other technical disciplines called upon to assemble and update the various infrastructures in various ways. Moss (2020) on Berlin, which tells the story of that city (1920–2020) through infrastructures, removing them from invisibility, may be singular, but it is not. Putting them at the center offers new ideas and angles both from the point of view of economics, finance, assembly technique and above all the spatiality of the city within the different forms of globalization. Today, urban infrastructures are also a fundamental part of the economy and finance and follow their evolution and trajectory. They assume particular impor- tance starting from the conjugation with the term globalization; we have seen a rapid transformation of the interconnected infrastructure precisely with the growth of glob- alization and the global city. The analysis focused more on what has been called the western global city and the context of the brownfield infrastructure
The Colombian Economy and Its Regional Structural Challenges A Linkages Approach - Original PDF
The Colombian Economy and Its Regional Structural Challenges A Linkages Approach - Original PDF
نویسندگان: Eduardo A. Haddad · Jaime Bonet · Geoffrey J. D. Hewings خلاصه: Preface I have been teaching a Ph.D. course on “Applied General Equilibrium Models” at the University of São Paulo, Department of Economics, since 1999. Over the last editions of the course, the material was built around specific countries or regions, selected to be the object of modeling practices undertaken by the students. This praxis turned out to be very rewarding for the students since they were motivated to apply different techniques to study concrete problems in a common economic system. Throughout this process, they had the opportunity to collaborate among themselves and interact with scholars from the study regions, often generating scholarly publications. We had already worked with countries such as Brazil, Chile, Greece, and Paraguay, and with different regional contexts, especially within Brazil. Colombia had always been a top candidate to receive our attention. Our previous engagement with colleagues from the Centro de Estudios Económicos Regionales (CEER), a research center specialized in Regional and Urban Economics at the Banco de la República— the Colombian Central Bank—provided a unique opportunity to develop a special edition of the course on the country. During a visit to Cartagena in 2019, Jaime Bonet and I finally agreed to use Colombia as the case study in the forthcoming edition of the course. We designed the Colombian edition in innovative and challenging ways, raising the bar for the expected outcomes, including a workshop to be hosted in Cartagena in 20201 and the publication of a volume including the contributions by different authors forming a cohesive unit. We built the activities upon solid co
The Relational Governance of Artificial Intelligence Forms and Interactions - Original PDF
The Relational Governance of Artificial Intelligence Forms and Interactions - Original PDF
نویسندگان: Sabine Wiesmüller خلاصه: he book “The Relational Governance of Artificial Intelligence—Forms and Inter- actions” by Sabine Wiesmüller deals both with the theoretical prerequisites and prac- tical possibilities of the governance of “Artificial Intelligence” (AI) in the interplay of social, entrepreneurial, and ethical decision-making logics. In particular, Sabine Wiesmüller’s book aims to contribute to the discussion of a theme that all societies are confronted with today and for which solutions are being sought, namely the complex interactions and network effects of the technological, economic and social aspects of AI. The book focuses on a genuinely interdisciplinary analysis: The overlap and rela- tionalisation between economic, system-theoretical, and ethical language games. Only through such a relationalisation—and this is one of the basic assumptions of the author—can the challenges of the rapidly developing technical and economic possi- bilities, risks, and challenges of artificial intelligence in the economy and society be understood and productively dealt with. The aim of the analysis is therefore twofold: On the one hand, it provides a theo- retical literature reconstruction of the polyvalent forms of governance of AI. On the other hand, it also addresses the practical possibilities for an intersectoral imple- mentation of relational governance of AI. The latter means that the governance of AI must enable and promote the cooperation of the multiple stakeholders involved, especially their interests, resources and decision-making logics. It is therefore about the relational governance of economic and social transactions that relationalise tech- nical logic, economic value creation and ethical demands such as self-interest, trust, integrity and stakeholder legitimacy. In this way, the adaptive approach to uncertainty and process dynamics becomes possibl
Global Economic Challenges 6th International Conference on Banking and Finance Perspectives, Cuenca, Spain - Original PDF
Global Economic Challenges 6th International Conference on Banking and Finance Perspectives, Cuenca, Spain - Original PDF
نویسندگان: Nesrin Özataç • Korhan K. Gökmenoğlu Daniel Balsalobre Lorente Nigar Taşpınar • Bezhan Rustamov خلاصه: Price movements in the energy market are crucial because energy plays a vital role in the world’s economies and human life. The high volatility in energy prices since the 1990s is due to several historical developments, including the deregulation of energy markets, the Asian financial crisis in 1997, and the 2008 global financial crisis (Lien et al., 2016; Lang & Auer, 2019) have increased the need for an appro- priate protection strategy. Hedging by using futures contracts makes the problem of “finding an appropriate hedge ratio” vital. In calculating the optimal hedge ratio (OHR), estimations are mostly based on the average (expected) relationship between spot and futures prices. This approach ignores the tail distribution of the variables (Lien et al., 2016; Shrestha et al., 2018). However, the widely documented non- normal distribution of financial variables makes considering the quantiles of the variables essential. To fill this gap, we used the recently developed quantile-on- quantile (Q-Q) (Sim & Zhou, 2015) approach to estimate the minimum-variance (MV) hedge ratio for crude oil, natural gas, and gasoline markets. Besides, to have a better understanding of the relationship between these variables, we examined long-run and causal relationships by using methods that consider the distribution of the variables.
Environmental Regulations and Industrial Competitiveness Case Studies of Toxic Industries in Southern California - Original PDF
Environmental Regulations and Industrial Competitiveness Case Studies of Toxic Industries in Southern California - Original PDF
نویسندگان: Ward Thomas • Paul Ong خلاصه: 1 Chapter 1 Environmental Regulations and Industrial Competitiveness Abstract Industries in the U.S. emit billions of pounds of toxic chemicals into the environment every year, resulting in a major risk to human health. Many economists and policy makers, however, are strongly opposed to environmental regulations based on an assumption that regulations lead to a loss of jobs and a declining stan- dard of living for U.S. citizens. The empirical literature on this question has pro- duced mixed results, and this chapter critically assesses several conceptual and methodological issues that are embedded in this literature. Our thesis is that strin- gent environmental regulations have the potential to effectively and efficiently reduce toxic emissions from polluting firms and industries while having a negligible impact on the economic competitiveness of firms and industries. We investigate this thesis through three empirical case studies of polluting industries in Southern California that are highly regulated by the South Coast Air Quality Management District (AQMD): metal finishing, wood furniture, and dry cleaning. We also attempt to reveal the institutional process by which firms comply with environmen- tal regulations. Keywords Environmental regulations · Economic competitiveness · Environmental pollution · Economic externalities · Market failure · Environmental compliance · Technological uncertainty · Innovation · Adoption Introduction Over the last half century, the US federal government has played an active role in regulating the emission of toxic chemicals from polluting firms and industries (Rosenbaum, 2019; Telsey, 2016). Congress passed the Clean Air Act of 1970 “to protect and enhance the quality of the nation’s air resources so as to promote the public health and welfare and the productive capacity of the population” (US Environmental Protection Agency, 2007, p. 2). Congress also created the EPA (Environmental Protection Agency) in 1970 to implement and enforce the nation’s environmental law

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