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The authors identify the issues that must be dealt with internationally and propose an ambitious environmental action agenda for APEC that would play an important role in that strategy.","brand":"André Dua","offers":[{"title":"Default Title","offer_id":42980238458998,"sku":"9780881322507","price":21.95,"currency_code":"USD","in_stock":true}]},{"product_id":"the-new-politics-of-american-trade-9780881322699","title":"The New Politics of American Trade","description":"\u003cp\u003eImports pour into the United States, up by 79 percent in six years. The trade deficit more than doubles. The House of Representatives solidly rejects a bill that would liberalize global and regional trade and endorses import quotas for a major manufactured product by a two-to-one margin. Although at first glance these events of the 1990s might sound like past chapters of US trade politics, in fact the political dynamics have changed in significant ways. As the impact of globalization comes into focus, politically important constituencies have begun to resist trade liberalization. Labor and environmental groups in particular, demanding that their concerns be addressed, have succeeded in fracturing the long-standing, bipartisan, protrade coalition in Congress, and in the process have undercut US leadership in liberalizing global trade.\u003cbr\u003e\u003cbr\u003eThis new study reexamines the landscape of trade politics. It shows how trade advocates and labor and environmental skeptics differ significantly in both their substantive views and their political and organizational cultures. The authors demonstrate how this new challenge differs from that of traditional trade protectionism, likening it instead to the debate a century ago over whether and how to regulate American capitalism for social purposes. 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Through the lens of these surveys, preeminent North Korean experts Stephan Haggard and Marcus Noland carefully document the country's transition from a centrally planned economy to a highly distorted market economy, characterized by endemic corruption and widening inequality. The authors chart refugees' reactions to the current conditions and consider the disparity between the perceived and real benefit of the international humanitarian aid program experienced by this displaced population. 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Drawing on the most recent evidence on the relationship between foreign direct investment and development and the impact of outward investment on the home economy, this study outlines a series of reforms that can make OPIC a more effective force in securing the benefits—and avoiding the hazards—of globalization in today's economy.","brand":"Theodore H. Moran","offers":[{"title":"Default Title","offer_id":42980243046518,"sku":"9780881323429","price":20.0,"currency_code":"USD","in_stock":true}]},{"product_id":"dollar-adjustment-9780881323788","title":"Dollar Adjustment","description":"Building on the scholarship of\u003ci\u003e Dollar Overvaluation and the World Economy\u003c\/i\u003e (2003), this book assesses the progress that has been made to date in correcting the sizable misalignments of key national currencies that developed in the late 1990s and early 2000s. 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If the problem was one of \"twin deficits,\" as many thought, why has the trade deficit continued to grow even as the budget deficit narrowed to zero? If US companies are so competitive, why does the trade deficit persist? Is the trade deficit a result of protectionism abroad? Will it lead to protectionism at home? What role do international capital markets have?\u003cbr\u003e\u003cbr\u003eEach chapter presents relevant data and a simple analytical framework as the basis for concise discussions of these major issues. The final section of the book provides an outlook for the deficit and suggests alternative policy courses for dealing with it. This book is designed for policymakers and others who are interested in the US role in the world economy. It is also suitable for courses in international economics, business, and international affairs.\u003c\/p\u003e","brand":"Catherine L. 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Governments should handle these conflicts in a way that both upholds food safety standards—and public confidence in them—and preserves the framework for trade and the benefits of an open food system.\u003cbr\u003e\u003cbr\u003eThis book examines the current state of regulation of the increasingly global food system, analyzes the underlying causes of the trade conflicts (both those that are currently evident and those that are waiting in the wings), and outlines the steps that could be taken to ensure that food safety and open trade become, at the least, compatible and, at best, mutually supporting.\u003c\/p\u003e","brand":"Tim Josling","offers":[{"title":"Default Title","offer_id":42980245569654,"sku":"9780881323467","price":29.95,"currency_code":"USD","in_stock":true}]},{"product_id":"after-the-washington-consensus-9780881323474","title":"After the Washington Consensus","description":"\u003cp\u003eThis volume is a successor of sorts to the Institute's 1986 volume \u003ci\u003eToward Renewed Economic Growth in Latin America\u003c\/i\u003e, which blazed the trail for the market-oriented economic reforms that were adopted in Latin America in the subsequent years. It again presents the work of a group of leading Latin American economists who were asked to think about the nature of the economic policy agenda that the region should be pursuing after a decade that was punctuated by crises, achieved disappointingly slow growth, and saw no improvement in the region's highly skewed income distribution. The study diagnoses the first-generation (liberalizing and stabilizing) reforms that are still lacking, the complementary second-generation (institutional) reforms that are necessary to provide the institutional infrastructure of a market economy with an egalitarian bias, and the new initiatives that are needed to crisis-proof the economies of the region to end its perpetual series of crises.\u003cbr\u003e\u003cbr\u003eContributors: Daniel Artana, Nancy Birdsall, Roberto Bouzas, Saúl Keifman, Pedro-Pablo Kuczynski, Ricardo López Murphy, Claudio de Moura Castro, Fernando Navajas, Patricio Navia, Liliana Rojas-Suarez, Jaime Saavedra, Miguel Székely, Andrés Velasco, John Williamson, and Laurence Wolff.\u003c\/p\u003e","brand":"Pedro-Pablo Kuczynski","offers":[{"title":"Default Title","offer_id":42980245733494,"sku":"9780881323474","price":30.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0671\/1374\/6550\/files\/CoreSourceHub_2e90c620-3111-4496-9854-544309810a53.jpg?v=1768545686"},{"product_id":"the-euro-at-ten-9780881324303","title":"The Euro at Ten","description":"\u003cp\u003eOver the first ten years of its existence, the euro has proved to be more than a powerful symbol of collective identity. It has provided price stability to previously inflation-prone countries; it has offered a shelter against currency crises; and it has by and large been conducive to budgetary discipline. The eurozone has attracted five new members in addition to the initial eleven, and many countries in Europe wish to adopt it.\u003cbr\u003e\u003cbr\u003eThe euro has also been successful internationally. Even though research presented in this volume confirms that it has not rivaled the dollar's world currency status, it has certainly become a strong regional currency in Europe and the Mediterranean region. Some countries in the region have de facto adopted it, several peg to it, and many have become at least partially euroized. However, the euro's impressive first decade is likely to be followed by a much more difficult period. 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Specific proposals are made for reforming the international monetary and trading systems, including through changes in the roles of the International Monetary Fund, GATT and the New World Trade Organization, and the World Bank. The volume also assesses the case for creating new institutional arrangements to address several issues that have recently attained greater prominence on the global agenda—investment, financial markets, the environment, and migration.","brand":"Peter B. Kenen","offers":[{"title":"Default Title","offer_id":42980246749302,"sku":"9780881322125","price":30.0,"currency_code":"USD","in_stock":true}]},{"product_id":"real-exchange-rates-for-the-year-2000-9780881322538","title":"Real Exchange Rates for the Year 2000","description":"\u003cp\u003eCountries that entered the European Monetary Union had to do so at exchange rates that are close to equilibrium levels. So when are exchange rates at equilibrium levels? 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In fact, Maghreb has one of the lowest rates of intra-regional trade in the world; other factors like rigid economic structures, slow productivity growth, and modest investment levels continue to stymie progress toward economic integration. Do these countries' diverse circumstances symbolize insurmountable obstacles in achieving economic cooperation and an improved standard of living for citizens? How can the United States and European Union facilitate economic progress?\u003cbr\u003e\u003cbr\u003e\u003ci\u003eMaghreb Regional and Global Integration: A Dream to Be Fulfilled\u003c\/i\u003e utilizes two distinct econometric tools to assess four key sectors—energy, banking and insurance, transport, and agribusiness—and outlines achievable sector-specific recommendations. This book not only assesses the gains from economic integration among the Maghreb countries, but also focuses on the tangible benefits from enhanced economic ties between the region and the world economy. 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This important new book, based on an Institute conference in October 2007, takes stock of exchange rate policy in China and identifies the major policy options going forward.\u003cbr\u003e\u003cbr\u003eSpecific proposals presented in the volume address how best to eliminate any misalignment of the renminbi; how best to reduce pressures emanating from the sterilization of large reserve accumulation; how best to make capital flows the ally—not the enemy—of exchange rate policy; and what institutional arrangements and policy guidelines to put in place to reap the greatest benefits from management of China's large foreign exchange reserves. Leading experts—including three from China—have contributed to the volume. 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In 1998, the Korean economy went into the deepest recession recorded in that country since the Korean War. Many of the underlying problems were homegrown. Huge amounts of debt had been amassed by Korea's large industrial conglomerates (the chaebol), and often the funds had been invested in undertakings that were not earning satisfactory rates of return. By the end of 1998, a number of smaller conglomerates had failed and one of the top five (Daewoo) was in serious trouble and eventually would fail.\u003cbr\u003e\u003cbr\u003eIn this study, author Edward M. Graham examines how this situation arose, tracing its roots to the aggressive industrial policy begun by Korean strongman president Park Chung-hee during the late 1960s. 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This volume, with chapters by leading international economists, explores one crucial issue in the design of a target zone system: the problem of calculating Williamson's concept of the fundamental equilibrium exchange rate (FEER). Williamson contributes an overview of the policy and analytic issues and a second chapter on his own calculations.","brand":"John Williamson","offers":[{"title":"Default Title","offer_id":42980265787510,"sku":"9780881320763","price":19.95,"currency_code":"USD","in_stock":true}]},{"product_id":"trans-pacific-partnership-9780881327137","title":"Trans-Pacific Partnership","description":"The Trans-Pacific Partnership (TPP) between 12 Pacific Rim countries has generated the most intensive political debate about the role of trade in the United States in a generation. The TPP is one of the broadest and most progressive free trade agreements since the North American Free Trade Agreement (NAFTA). 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Through extensive analysis of the TPP text, PIIE scholars present an indispensable and detailed \"reader's guide\" that also sheds light on the agreement's merits and shortcomings.","brand":"Cathleen Cimino-Isaacs","offers":[{"title":"Default Title","offer_id":42980266344566,"sku":"9780881327137","price":23.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0671\/1374\/6550\/files\/CoreSourceHub_65d2f5c2-7984-497d-887d-b4562aee1f3d.jpg?v=1768545720"},{"product_id":"the-united-states-should-establish-permanent-normal-trade-relations-with-russia-9780881326208","title":"The United States Should Establish Permanent Normal Trade Relations with Russia","description":"In the coming year, Congress is likely to face a critical vote on granting Permanent Normal Trade Relations (PNTR) to Russia in connection with its impending membership to the World Trade Organization (WTO). 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Drawing on conclusions from this analysis, and from previous work conducted by the Institute on US-Russia relations, this monograph summarizes the implications of PNTR for US producers, Russian economic growth, and bilateral commercial relations.","brand":"Anders Åslund","offers":[{"title":"Default Title","offer_id":42980269490294,"sku":"9780881326208","price":20.95,"currency_code":"USD","in_stock":true}]},{"product_id":"three-threats-9780881324297","title":"Three Threats","description":"\u003cp\u003eUnder what conditions might a foreign acquisition of a US company constitute a genuine national security threat to the United States? What kinds of risks and threats should analysts and strategists on the Committee on Foreign Investment in the United States (CFIUS), as well as their congressional overseers, be prepared to identify and deal with? This study looks at three types of foreign acquisitions of US companies that may pose a legitimate national security threat.\u003cbr\u003e\u003cbr\u003eThe first is a proposed acquisition that would make the United States dependent on a foreign-controlled supplier of goods or services that are crucial to the functioning of the US economy and that this supplier might delay, deny, or place conditions on the provision of those goods or services. The second is a proposed acquisition that would allow the transfer to a foreign-controlled entity of technology or other expertise that might be deployed in a manner harmful to US national interests. The third potential threat is a proposed acquisition that would provide the capability to infiltrate, conduct surveillance on, or sabotage the provision of goods or services that are crucial to the functioning of the US economy. This study analyzes these threats in detail and considers what criteria are needed for a proposed foreign acquisition to be considered threatening. Ultimately, the vast majority of foreign acquisitions pose no credible threat to national security on these grounds.\u003c\/p\u003e","brand":"Theodore H. Moran","offers":[{"title":"Default Title","offer_id":42980270080118,"sku":"9780881324297","price":17.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0671\/1374\/6550\/files\/CoreSourceHub_c3f63789-55b8-4b81-9878-8cb40ee98cff.jpg?v=1768549813"},{"product_id":"bankings-final-exam-9780881327052","title":"Banking's Final Exam","description":"In \u003ci\u003eBanking’s Final Exam\u003c\/i\u003e, one of the world’s leading experts on banking regulation concludes that financial institution stress tests suffer from fundamental weaknesses, leading to a false sense of security about the soundness of the banking system. 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In contrast, whether external financial openness boosts or curbs growth has long been a controversial issue, and it has become even more so with the outbreak of the global financial crisis of 2007–09.\u003cbr\u003e\u003cbr\u003eThe East Asian financial crisis of the late 1990s raised doubts on this issue, and helped spur a wave of empirical research on it. Supporters of financial globalization—such as Stanley Fischer and Lawrence Summers—maintained that, with the right policies, open capital markets continued to be a powerful means for enhancing growth. Critics, including Jagdish Bhagwati and Joseph Stiglitz, argued that the crisis demonstrated that, unlike free trade in goods, free mobility for capital is counterproductive for growth. In the past decade a large empirical literature has emerged examining this question. Overall it has tended to find that financial globalization has \"positive marginal effects on growth.\" The US-led financial crisis of 2007–09 swept most of the developed and emerging-market economies into its vortex. The global crisis has set the stage for an intensification of the debate on financial openness. Some analysts and policymakers will be inclined to escalate calls for restrictions on capital flows. In the acute phase of the crisis that began in September 2008, major stock markets around the world plunged along with the US equity market, and many currencies fell sharply against the dollar (excluding the yen, which proved, like the dollar, to be a safe-haven currency). If countries had maintained closed capital markets, some may argue, they would not have been vulnerable to these shocks. Cline asserts that financial globalization represents a significant factor in economic growth of emerging-market economies. Further, he argues that a significant portion of current-day GDP can be attributed to the cumulative influence of financial openness, especially in industrial countries.\u003cbr\u003e\u003cbr\u003eThis study surveys the extensive literature on this issue to arrive at a broad sense of the state of the evidence for and against the growth benefits of financial openness. The survey is critical in the sense that it seeks to evaluate strengths and weaknesses of the various studies in addition to summarizing their results. It then applies leading quantitative models from the literature to arrive at synthesis estimates of the contribution of financial openness to growth for major industrial and emerging-market economies over the past four decades. Finally, the book considers the preliminary evidence on whether the 2007–09 financial crisis constitutes grounds for a major change in the policy verdict on financial openness. As part of that reconsideration, the analysis reviews the causes of the global crisis, as well as its principal events and policy interventions.\u003c\/p\u003e","brand":"William R. Cline","offers":[{"title":"Default Title","offer_id":42980271652982,"sku":"9780881324990","price":28.95,"currency_code":"USD","in_stock":true}]},{"product_id":"global-economic-leadership-and-the-group-of-seven-9780881322187","title":"Global Economic Leadership and the Group of Seven","description":"The decline of the dollar, the Mexican crisis, and sluggish global growth reveal the failure of the Group of Seven industrial nations to provide effective management of the world economy. The G-7 once played this crucial role effectively, and must do so again if future crises are to be averted and global prosperity to be promoted. This study assesses the G-7's record and the reasons for its demise. It outlines an action program that includes reforming the exchange rate regime, creating a new financial facility at the IMF to deal with crises sparked by private capital flows, and instituting an early warning system to prevent serious new disruptions in the world economy","brand":"C. Fred Bergsten","offers":[{"title":"Default Title","offer_id":42980275224694,"sku":"9780881322187","price":25.0,"currency_code":"USD","in_stock":true}]},{"product_id":"leveling-the-carbon-playing-field-9780881324204","title":"Leveling the Carbon Playing Field","description":"As political momentum surrounding climate change builds in the US, policymakers are taking a fresh look at national climate policy and American involvement in multilateral climate negotiations. And as in years past, the potential economic impact of any US effort to reduce greenhouse gas emissions stands as a central question in the Washington policy debate. Of particular concern is the effect climate policy would have on carbon-intensive US manufacturing. Many of these industries are already under pressure from foreign competition, particularly large emerging economies like China, India, and Brazil that are not bound to reduce emissions under the current international climate framework. As the Congress takes up domestic climate legislation and the Administration reengages in multilateral climate negotiations, policymakers are looking for ways to avoid putting US industry at a competitive disadvantage vis-à-vis countries without similar climate policy, lest a decline in industrial emissions at home is simply replaced by increases in emissions abroad. While this would be best achieved through harmonized international climate policy, the differences between countries in level of economic development, obligations stemming from historic emissions and responsibilities arising from future emissions, mean harmonization is still a long way off. The question then, in the design of domestic US climate policy today, is how to level the playing field for carbon-intensive industries during a period of transition, where trading partners are moving at different speeds and adopting a variety of policies to reduce emissions...and how to do so in a way that doesn't threaten the prospects of broader international agreement down the road. This book, a collaboration between the Peterson Institute for International Economics and the World Resources Institute, tackles these issues through an assessment of the economics and trade flows of key carbon-intensive industries. They evaluate a wide range of policy options, including those that would impose carbon costs on foreign-produced goods at the border (currently included in draft US legislation and under consideration in the EU) in terms of their effectiveness in reducing emissions and addressing competitiveness issues and their impact on health of multilateral trade and climate negotiations.","brand":"Trevor Houser","offers":[{"title":"Default Title","offer_id":42980275388534,"sku":"9780881324204","price":19.95,"currency_code":"USD","in_stock":true}]},{"product_id":"does-foreign-direct-investment-promote-development-9780881323818","title":"Does Foreign Direct Investment Promote Development?","description":"What is the impact of foreign direct investment (FDI) on development? The answer is important for the lives of millions—if not billions—of workers, families, and communities in the developing world. 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Similar blockbuster cases are already working their way through federal and state court systems.\u003cbr\u003e\u003cbr\u003eThis nightmare scenario could become a reality because of a little-known, one-sentence law enacted in 1789—the Alien Tort Statute (ATS): \"The district courts shall have original jurisdiction of any civil action by an alien for a tort only, committed in violation of the law of nations or a treaty of the United States.\" In this policy analysis, Gary Clyde Hufbauer and Nicholas K. Mitrokostas examine the chilling impact the ATS could have on trade and foreign direct investment. They trace its history from the original intent to recent court interpretations, including a look at class action suits over asbestos and apartheid. They provide an economic picture of the potential scope of ATS litigation, cite the possible collateral damage, and review the impact that ATS rulings could have on global relations. The authors recommend measures Congress should take to limit expansive court interpretations. The study is a must-read for policymakers, international lawyers, and students.\u003c\/p\u003e","brand":"Gary Clyde Hufbauer","offers":[{"title":"Default Title","offer_id":42980283187318,"sku":"9780881323665","price":20.0,"currency_code":"USD","in_stock":true}]},{"product_id":"wto-2000-9780881322347","title":"WTO 2000","description":"\u003cp\u003eBy the year 2000, world trade in merchandise goods and commercial services will probably exceed $8 trillion, or $2 trillion more than in 1995. By that date, the World Trade Organization (WTO) may well have more than 130 member countries that account for about 95 percent of world trade. The millennium also will mark an important milestone for the WTO: new WTO negotiations on agriculture and services will be under way with the goal of achieving the progressive liberalization of remaining barriers to trade.\u003cbr\u003e\u003cbr\u003eThis monograph explores how WTO members should prepare for these negotiations. It discusses the Singapore ministerial meeting and its importance in starting WTO deliberations, examines how the agenda of such talks should be crafted to meet these challenges to the trading system, proposes initiatives to achieve further trade reforms and to extend WTO obligations to other trade-related aspects of government policy, and explores whether such new initiatives are feasible—that is, whether there is sufficient political support for new trade reforms in the major trading nations. The text concludes with some recommendations on how the new WTO initiative could be launched and implemented over the next five years.\u003c\/p\u003e","brand":"Jeffrey J. 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The Basel Committee itself implicitly acknowledged in spring 2008 that the revised framework would not have been adequate to contain the risks exposed by the subprime crisis and needed strengthening.\u003cbr\u003e\u003cbr\u003eThis crisis has highlighted two more basic questions about Basel II: One, is the method of capital regulation incorporated in the revised framework fundamentally misguided? Two, even if the basic Basel II approach has promise as a paradigm for domestic regulation, is the effort at extensive international harmonization of capital rules and supervisory practice useful and appropriate? This book provides the answers. It evaluates Basel II as a bank regulatory paradigm and as an international arrangement, considers some possible alternatives, and recommends significant changes in the arrangement.\u003c\/p\u003e","brand":"Daniel K. 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Petri, Plummer, and Zhai estimate that world income would rise by $295 billion per year on the TPP track, by $766 billion if both tracks are successful, and by $1.9 trillion if the tracks ultimately combine to yield region-wide free trade. They find that the tracks are competitive initially but their strategic implications appear to be constructive: the agreements would generate incentives for enlargement and mutual progress and, over time, for region-wide consolidation. The authors conclude that the crucial importance of Asia-Pacific integration argues for an early conclusion of the TPP negotiations, but without jeopardizing the prospects for region-wide or even global agreements based on it in the future.","brand":"Peter A. 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The authors take a fresh look at global economic integration by examining existing price divergence, and possible price convergence, across a range of consumer goods and then calculate the potential benefits of price convergence on a country-by-country basis and for the world as a whole. This study examines the potential benefits from price convergence resulting from more competition and market integration, not perfect competition and market integration. 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The second has been very slow or even negative growth in real wages and a widening disparity in the distribution of income, particularly between relatively skilled and unskilled workers. Many observers suspect that these two trends are connected: increasing competition from foreign producers, particularly in low-wage developing countries, may have contributed to stagnation in US real wages and a worsening income distribution. These concerns have led to proposals to slow or reverse the internationalization of the American economy in order to bolster real wages, preserve jobs, and prevent a worsening income distribution. The issue is hotly debated among analysts and policymakers.\u003cbr\u003e\u003cbr\u003eThis study will provide a fresh and comprehensive analysis of theory and empirical evidence on the relationships among trade, employment and wages, and income distribution. It will explore the full range of options available to policymakers, including slowing the pace of trade liberalization, providing adjustment assistance to trade-impacted workers, and encouraging investment in human and physical capital.\u003c\/p\u003e","brand":"William R. Cline","offers":[{"title":"Default Title","offer_id":42980294262902,"sku":"9780881322163","price":25.0,"currency_code":"USD","in_stock":true}]}],"url":"https:\/\/ingramacademic.com\/collections\/peterson-institute-for-international-economics.oembed","provider":"Ingram Academic \u0026 Professional","version":"1.0","type":"link"}