International Business and Political Economy

239 Pages·2015·2.32 MB·English

by  Victoria Miroshnik, Dipak Basu

International Business and Political Economy

International Business and
Political Economy
Dipak Basu
Nagasaki University, Japan
and
Victoria Miroshnik
Associate Professor, Graduate School of Business Sciences,
Tsukuba University, Tokyo
© Dipak Basu and Victoria Miroshnik 2015
All rights reserved. No reproduction, copy or transmission of this
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permitting limited copying issued by the Copyright Licensing Agency,
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The authors have asserted their rights to be identified as the authors of this work
in accordance with the Copyright, Designs and Patents Act 1988.
First published 2015 by
PALGRAVE MACMILLAN
Palgrave Macmillan in the UK is an imprint of Macmillan Publishers Limited,
registered in England, company number 785998, of Houndmills, Basingstoke,
Hampshire RG21 6XS
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Palgrave® and Macmillan® are registered trademarks in the United States,
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ISBN: 978–1–137–47485–8
This book is printed on paper suitable for recycling and made from fully
managed and sustained forest sources. Logging, pulping and manufacturing
processes are expected to conform to the environmental regulations of the
country of origin.
A catalogue record for this book is available from the British Library.
Library of Congress Cataloging-in-Publication Data
Miroshnik, Victoria, 1969–
International business and political economy / Victoria Miroshnik, Dipak Basu.
pages cm
ISBN 978–1–137–47485–8
1. International trade – Political aspects. 2. Free trade – Political aspects.
3. International finance – Political aspects. 4. International economic relations.
5. Economic policy. 6. Monetary policy. I. Basu, Dipak R. II. Title.
HF1379.M567 2015
330—dc23 2014049592
To Levan Bzheshkyan and Meghamaller Basu

Contents
List of Figures v iii
List of Tables ix
Preface x
Introduction 1
1 World Trade Organization and World Economic Architecture 5
2 Patent Laws and the Developing Countries 10
3 Free Trade or Trade Management 15
4 A New Reserve Currency 34
5 Doha Climate Talk of the UN: Science vs Market 43
6 Economic Policy in the Developed Word before 2008 63
7 The Economic Crisis of 2008: Causes and Solutions 81
8 Financial Stability and the International Monetary Fund 94
9 The Greek Tragedy and Its Lessons 99
10 Russian Reforms and Its Consequences 107
11 Economic Reforms in India 128
12 Privatization 135
13 Privatized Pension 141
14 Inflation in India 144
15 Labor-Market Reforms in India 155
16 Privatization of Electricity 165
17 Economic Reforms in China 174
18 Industrialization and Land Question 192
19 Evaluation of the Millennium Goals of the UN for Africa 197
20 Economic Roots of the Middle-East Crisis 213
References 2 20
Index 225
vii
List of Figures
5.1 Temperature relative to years 46
5.2 Temperature anomalies 46
5.3 Temperature change for the past 150,000 years at the
VOSTOK site in Antarctica, based on the deuterium proxy
found in ice cores. Zero means the year 2008 47
5.4 Average historical deficits, USA 55
5.5 Inequality in the USA 57
10.1 International dynamic efficiency 111
10.2 Growth rates of Soviet net material product 112
10.3 Growth rates of Soviet gross industrial output 113
14.1 Indices of world commodity prices 145
14.2 International oil prices 146
14.3 Russia: growth, output and investment 146
17.1 China’s GDP, annual average percent change 176
20.1 Oil and gas fields of Syria 215
20.2 Syrian known oil reserves 216
20.3 Syrian estimated natural gas reserve 216

viii
List of Tables
A.1 Subsidies provided by the US government, 2013 13
3.1 Number of export items facing higher tariffs 21
3.2 Tariffs on selected export items of the poor countries 21
6.1 Eastern European countries: comparison of 1989 and 2000 80
9.1 Greek debts 100
10.1 Analysis of economic growth rates 108
10.2 Average growth rate in the EEC and CMEA 108
10.3 Investment ratio and investment efficiency 109
10.4 A dynamic comparison of the Soviet and US economies 109
11.1 Comparative economic growth under ‘planned’ and
‘reformed’ regimes in India 129
11.2 Employment in the organized sector 131
17.1 Export growth rates in East Asian economies 188
17.2 Trade destruction caused by China 189
ix