Central Banking and Monetary Policy in the G20: Paradigms and Challenges

Edited by Irfan Kalayci, İnönü University, Malatya, Turkey

Behind productive and prosperous economies are independent central banks that implement effective monetary policies. This observation is especially valid for the G20, which comprises the world’s top twenty economies in terms of gross domestic product and the largest stakeholders of the global economic system. These economies include Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, the United States, and the European Union. Three features of this book, which focuses on central banking and monetary policy in the G20, an intergovernmental platform, stand out: Firstly, as contemporary theories and global practices confirm, the main purpose of central banks is to ensure monetary and price stability, not despite the government but in cooperation with it. This principle is strongly emphasized here. Governments, which must maintain fiscal discipline, are key to the success of central banks in combating inflation and deflation. Secondly, since the authors of the book chapters come from various countries and academic institutions, the book offers a range of perspectives and intellectual richness. Without deviating from the book's main axis, the authors examine the changing paradigms in central banking and the increasing challenges of monetary policy. This examination is based on developed and emerging economies, integrations, financial organizations, and economic crises within the G20, informed by significant sources. Thirdly, this book offers university researchers, professional business practitioners, and curious readers the opportunity to explore and reflect on new concepts such as green central banking, digital money, and interest-free monetary policies, which have gained prominence in the wake of the global COVID-19 pandemic, alongside mainstream topics. It is hoped that this book, consisting of 14 chapters, will inspire those who wish to conduct new and renewed academic studies on global central banks and monetary policies and will fill a gap in the literature.

Blockchain applications in agriculture: Revolutionizing the food supply chain

Duong Hoai An, Thai Nguyen University of Agriculture and Forestry, Vietnam

'Blockchain applications in agriculture: Revolutionizing the food supply chain' is your definitive guide to the transformative impact of blockchain technology on agriculture and the modern food supply chain. In this comprehensive volume, we begin with “Introduction to blockchain technology,” laying the groundwork for readers of all backgrounds. From there, we delve into the intricate relationship between blockchain and the agriculture industry in “Overview of the agriculture industry”. The heart of the book explores practical applications in agriculture and the supply chain, including “Blockchain-based supply chain management,” “Farming and crop management,” “Livestock management and animal welfare,” and “Food safety and quality assurance.” We also explore how blockchain revolutionizes “Agricultural finance and insurance” and fosters “Sustainable agriculture and supply chain sustainability”. Drawing on “Case studies and real-world examples,” you’ll see blockchain in action, offering invaluable insights for farmers, supply chain professionals, academics, and policymakers. Our forward-looking chapter, “Future Trends and Challenges of Blockchain,” anticipates the evolving landscape of this groundbreaking technology. This book stands out for its depth, practicality, and relevance. It is equally suitable for reference, as a methodological guide, for classroom adoption, or as essential reading for researchers and practitioners in the fields of agriculture, technology, supply chain management, and policy. Whether you’re seeking to optimize farming practices, enhance supply chain transparency, or understand the regulatory implications, 'Blockchain applications in agriculture' equips you with the knowledge and inspiration needed to navigate the future of food production and distribution. Join the agricultural revolution today.

Whisk of the Red Broom: Stalin & Ukraine, 1928-1933

M. Andrew Holowchak

Once Joseph Stalin took the lead of the Soviet Bolshevists after the death of Vladimir Lenin, he quickly turned away from Lenin’s New Economic Policy, with its many concessions to capitalism, to a policy of one-country socialism, driven by his first Five Year Plan (1928) and a plan that other Bolsheviks like Lenin and Trotsky thought impossible. That shift, radical, forced Stalin to “urbanize” the USSR’s vast rural areas—that is, to impose a factory-like model on the Soviet countryside to maximize its efficiency. That required collectivizing the numerous Soviet farms—making large farms of the numerous small farms. Ukraine was to be the model republic due to its vastness and black, fertile lands. Not only were the republics to be collectivized, they were also to be Russified for the sake of model efficiency and centralization of control. And so, while Stalin, early in his political life, preached respect for the cultural diversity of its many republics and the right of secession of any republic, the need to collectivize the Soviet farms for the sake of one-country socialism demanded compliance. Ukrainian peasant-farmers were non-compliant, for they readily saw that the State was asking them for everything and giving back nothing but the pledge of efficient farms to benefit the State, and non-compliance forced Stalin’s authoritarian hand. He imposed laws that brutally punished non-compliant peasants, called “kulaks.” The plan was dekulakization. The intransigents were dispossessed of their property, alienated from other villagers, exiled, and exterminated. The result in Ukraine was the gross inefficiency of both collective and individual farms. That led to intolerance of Ukrainian culture and theft of Ukrainian grain, and even all other findable foodstuffs, to punish Ukrainians. The end was a great famine in 1932 and 1933 in which some four million Ukrainians died. Did Stalin believe that he could urbanize the Soviet countryside? Did Stalin think that socialism could take root in the backwater Soviet Union without the aid of Western succor? Did Stalin hate Ukrainians because many pressed for a cultural identity separate from that of Russia? Had Stalin’s plan of dekulakization from the beginning been a policy of political genocide? Those are some of the many questions I aim to answer in this book. I focus much on Stalin’s writings in the efforts to ascertain his mindset as a dictator.

The theory of the kingdom: A unified model of human agency

Andrew Root

This original monograph presents a comprehensive theory regarding the economy of the kingdom of God. The theory and associated model will help individuals make better choices. The research integrates fundamentals of the temporal real economy, and the permanent economy of the kingdom of God, to present a unified model of human agency. According to the model, effective agents are salt and light in the real economy, arresting corruption and revealing the truth. Effective agency produces life, peace, and growth. Individual and organizational practices that arrest corruption and reveal truth can resolve longstanding economic grievances. The list of spiritual credence goods is extensive and includes commonly known virtues such as humility, patience, and hope. Spiritual goods are allocated based on the owner-agent relationship. The quantity of goods the owner supplies is in proportion to an individual’s sacrificial offering of time and money. Spiritual goods are stored as heart capital. In a process analogous to the real economy, heart labor applied to heart capital produces desirable outputs. The owner relates to his agents through a heart-inscribed behavioral contract. The owner generally intervenes in the real economy by communicating with agents rather than by restricting choice. Prior studies across economics, finance, and sociology prove the efficiency of behavioral contracts and communication over restricted choice. Herein researchers will find new testable propositions, and practitioners will find new ideas and practices to live better, more consequential lives. Examples of practical applications include methods of resolving group-level bias and understanding the purpose of life’s difficulties.

Development in Africa's Informal Settlements: Below the Proletariat

Angela R. Pashayan, American University, Washington, DC

This book discusses the effectiveness of international development programs in African informal settlements (slums). It also represents the voices of slum dwellers and how they view the programs offered. With over 60% of Africans living in slums, the book intends to foster dialogue among development professionals to determine how to improve service to their clients, people experiencing extreme poverty. This book examines the critical thinking disconnect between development professionals and slum dwellers. It enables practitioners, professors, and their students to investigate the gap between the types of development programs offered versus what is most beneficial to reduce extreme poverty in slum communities. With a sample of 500 residents from Mukuru Slum in Nairobi, Kenya, and 100 development professionals with expertise in poverty reduction in slums, this book sheds light on the similarities and differences between various programs. Most importantly, this book provides a theoretical way forward (The Theory of Extreme Poverty Reduction) based on Freirean pedagogy to stimulate discussion on how to program new strategies for authentic dialogue with slum dwellers that leads to the critical consciousness necessary for successful poverty reduction.

Economics of Economy Pricing

Marin Muzhani, CDI College, Canada

The economy of the industrialized countries in the 21st century has already moved to a new level of mass production and technology never seen before, thanks in part to globalization, advanced technologies, new organization management methods, and innovative supply chain. A relatively large number of mass-produced commodities (characterized as non-premium) and services in Western economies are somehow sold at discounts rather than regular prices at a much higher frequency that was never seen before. This phenomenon has completely changed how we look at the theory of the firm in microeconomics. This book is indented to introduce new ideas and theories by challenging the current modern micro-and-macro economic theories. In a globalized world, the economies of advanced countries have entered a new phase called “economy pricing,” where most of the mass commodities are sold at a low price during certain periods of the year, called ‘sales events’. In addition to low prices, most industrialized countries have had record low inflation, low-interest rates, low growth, and low unemployment rates. This book will contend how the “Economy Pricing System” is about to revolutionize how people look at a real economy’s micro and macro effects.

Handbook of Research on Cross-culture Business and Management

Edited by Chandan Maheshkar, East Nimar Society for Education (ENSE), Indore, India and Vinod Sharma, SCMHRD, Symbiosis International University Pune, India

As organizations and businesses continue to expand in the cross-border and multicultural markets, culture needs to be taken into consideration. At present, culture introduces significant changes in the core assumptions of business practices and skill expectations. Gaining cross-cultural compatibility is now a serious concern for businesses and organizations. Appreciating the overall view of cross-cultural business environment, 'Handbook of Research on Cross-culture Business and Management' is a significant attempt to contribute a piece of knowledge on different aspects of cross-cultural business and management, facilitating practitioners and academicians to explore different cross-cultural business practices and develop competencies. This book will be a unique source for cross-cultural business and management practices, helping people of both industry and academia to understand the cross-cultural business environment and improve management practices.

Reimagining Capitalism: Applying Negative Dialectics for a Better Future

David M. Atkinson, York St John University

The Covid-19 pandemic reinforced the perception that capitalism is in crisis, that the future is volatile, uncertain, complex and ambiguous, and that, increasingly, our thinking about it and ability to manage and organize ourselves within it, are challenges we are ill-equipped for. Despite the efforts of many writers, and a surfeit of manuscripts concerning the need to rethink capitalism, questions concerning the struggle for social and economic justice remain unanswered. While some suggest that with corrective action, businesses can save the world, there is an acceptance that they cannot do so alone. However, while governments might strengthen their institutions, enacting more effective policies, the challenge is simply laid bare at the feet of industry and commerce. Is the challenge to confront the establishment just too big to face? Government institutions and the barons of industry and commerce are but interrelated, interconnected, interplaying components in one socio-economic system. This book offers readers a progressive, radical and academic provocation of that system; it also proposes a field of Applied Negative Dialectics. In 'Reimagining Capitalism', Atkinson confronts the need to rethink capitalism and presents an integrated range of thinking through a lens of applied negative dialectics, questioning how and why things might have occurred, and where and how we might begin to improve them.

Florentine Ariosto Jones: A Yankee in Switzerland and the Early Globalization of the American System of Watchmaking

Frank Jacob, Nord University, Norway

This book recounts the story of Florentine Ariosto Jones, who after the Civil War decided to manufacture watches. Combining the cheap labor available at the time in Switzerland with US manufacturing technologies, Jones embarked on his venture to produce affordable watches for the American market. Consequently, he became a pioneer in the business of outsourcing labor for economic purposes through his contracting of labor to Europe. While the company still exists today, very little is known about Jones. The present book will undoubtedly change this by telling the fascinating story of an American adventurer and his pursuit to globalize American watchmaking at the end of the 19th Century.

Florentine Ariosto Jones: A Yankee in Switzerland and the Early Globalization of the American System of Watchmaking

Frank Jacob, Nord University, Norway

This book recounts the story of Florentine Ariosto Jones, who after the Civil War decided to manufacture watches. Combining the cheap labor available at the time in Switzerland with US manufacturing technologies, Jones embarked on his venture to produce affordable watches for the American market. Consequently, he became a pioneer in the business of outsourcing labor for economic purposes through his contracting of labor to Europe. While the company still exists today, very little is known about Jones. The present book will undoubtedly change this by telling the fascinating story of an American adventurer and his pursuit to globalize American watchmaking at the end of the 19th Century.

Rethinking Territorial Development Policies: A new framework for territorial stakeholders

Theory, methods and implementations

Michel Felix, Skema Business School and Philippe Vaesken, Lille University, France

This book provides an analytical framework and toolkit for anyone involved — theoretically or practically — with the economic, social, ecological or cultural development of a territory. This work provides an overview of the various territorial development processes, inclusive of both individual and collective actions. In pursuance of its objectives, the book re-examines the classical concepts of governance and regulation in order to position them in an integrative model of the initiatives which contribute dynamically to territorial development. According to this model, the concepts of governance and regulation become two axes, revealing four main reference situations which differentiate between the local initiatives (ground-up) and public actions (top-down) that coexist in a territory. The model emphasizes the need to consider the place of territorial stakeholders in regulatory processes. The book enriches this concept, familiar in a legislative context, and describes it as an area of influence of and negotiation with stakeholders. It contributes to a territorial governance system which encourages development offers. It reveals the inseparable link between influence and development processes that lead to value creation. The logic of governance specifies the various sources of value creation, while the logic of regulation seeks to maximize the acceptability of such value creation by making it into an attractive proposition for stakeholders.

Liberty & Prosperity: Liberal economics for achieving universal prosperity

Gopi Krishna Suvanam

‘Liberty & Prosperity: Liberal Economics for Achieving Universal Prosperity’ aims to illuminate alternative policy framework using liberal economic policies. The evolution of this book is grounded in the author’s personal and professional experience investigating economies around the world and therefore takes a global view. The ideas discussed are intended for countries currently under different stages of development and are not restricted to only developed countries or emerging economies. This book examines what we as a society can do to achieve universal prosperity with the recurring topic of the intertwining nature of liberty and prosperity; without prosperity, man cannot have true liberty, and the best way to achieve universal prosperity is by providing liberty to all. It identifies the appropriate measures from existing liberal theories that could help achieve this long-term goal, while also introducing contrarian ideas, including the elimination of income tax, denationalization of money, and the reduction in the role of central banks. The central theme is that liberty in all aspects of economic activity, coupled with universal basic income, could create universal prosperity. This book will particularly appeal to those with a general interest in the economy and business, as well as students who seek an overview of classical macroeconomic principles; however, the book’s innovative ideas may also be of interest to professional economists.

Macroeconometric Models for Portfolio Management

Jeremy Kwok, University of Exeter, England

‘Macroeconometric Models for Portfolio Management’ begins by outlining a portfolio management framework into which macroeconometric models and backtesting investment strategies are integrated. It is followed by a discussion on the theoretical backgrounds of both small and global large macroeconometric models, including data selection, estimation, and applications. Other practical concerns essential to managing a portfolio with decisions driven by macro models are also covered: model validation, forecast combination, and evaluation. The author then focuses on applying these models and their results on managing the portfolio, including making trading rules and asset allocation across different assets and risk management. The book finishes by showing portfolio examples where different investment strategies are used and illustrate how the framework can be applied from the beginning of collecting data, model estimation, and generating forecasts to how to manage portfolios accordingly. This book aims to bridge the gap between academia and practising professionals. Readers will attain a rigorous understanding of the theory and how to apply these models to their portfolios. Therefore, ‘Macroeconometric Models for Portfolio Management’ will be of interest to academics and scholars working in macroeconomics and finance; to industry professionals working in financial economics and asset management; to asset managers and investors who prefer systematic investing over discretionary investing; and to investors who have a strong interest in macroeconomic influences on their portfolio.

Topics on Art and Money

Edited by Adrià Harillo Pla, Shanghai Jiao Tong University, China

The title of this book is intended to be an honest one, far from exaggerated phrases and empty meanings. Three words, a preposition, and a coordinating conjunction: ‘Topics on Art and Money’. A coordinating conjunction, not a subordinating one, since this book does not intend to express a hierarchical order. As all words united by a coordinating conjunction, this book intends to connect them. As simple as that. This book presents, through the chapters written by its authors, some of the ways in which Art and Money are linked. In order to observe this relationship, this book consists of authors whose analysis refers to political propaganda, historical events with artistic repercussions or strictly economic analysis of the art market, for example. “And” connects, “or” divides. This book not only presents a connection between Art and Money, but between academics from different fields and geographical areas. This humble book presents, precisely, how individuals from different specialties think of this relationship. It will appeal to academics dedicated to Arts Economics and Cultural Management, professionals from the art market/world with an interest in works of an academic nature, and general readers with an interest in this topic and a strong knowledge of Arts Economics.

Illusions of Location Theory: Consequences for Blue Economy in Africa

Edited by Francis Onditi, Riara University, Kenya and Douglas Yates, American Graduate School, Paris, France

"Illusions of Location Theory: Consequences for Blue Economy in Africa" questions the relevance of ‘location theory’ in explaining the coastal-hinterland continuum and the implications for the utilization of blue economy ecosystem in such a contested space in Africa. It pays more attention to territorial contestations, maritime disputes, vulnerabilities of landlocked states, and expansionist policies as displayed through spatial organizational regimes. These areas of investigation have previously been largely studied from the narrow perspective of ‘location’, unduly focusing on comparative advantages of ‘distance’, while neglecting the influence of ‘forces’ such as technology, ideology, and the power of mental mapping in spatial decision making. This volume puts forward the argument that the harmonious relationship between states, and efficient exploitation of the blue economy ecosystem in ways that promote peace between states, lies not only in the structural transformation of markets, but also in bridging the spatial and social divide between the coastal and hinterland societies. Thus, this work proffers possibilities for a holistic regime for managing Africa’s coastal-hinterland continuum through innovative strategies such as SMART blue economies and the infusion of the geopolitical dimension into the management of maritime and territorial diplomacy. The combination of theoretical and empirical analysis, buttressed by in-depth case studies of what works in the management of blue economy ecosystem and what does not work, make this volume ideal for researchers, students, and practitioners interested in African regional studies, African political economy, political geography, strategic military studies, governance of seas and oceans, and maritime science/diplomacy.

Nigeria's Resource Wars

Edited by Egodi Uchendu, University of Nigeria, Nsukka, Nigeria

'Nigeria’s Resource Wars' reflects on the diversity of conflicts over access to, and allocation of, resources in Nigeria. From the devastating effects of crude oil exploration in the Niger Delta to desertification caused by climate change, and illegal gold mining in Zamfara, to mention a few, Nigeria faces new dimensions of resource-related struggles. The ravaging effects of these resource conflicts between crop farmers and Fulani herders in Nigeria’s Middlebelt and states across Southern Nigeria call for urgent scholarly interventions; with the Fulani cattle breeders’ onslaught altering the histories of many Nigerian families through deaths, loss of homes and investments, and permanent physical incapacity. Currently, there is an almost total breakdown of interethnic relations, with political commentators acknowledging that Nigeria has never been so divided as it presently is in its history. The struggles have now degenerated into kidnaps, armed robbery, and incessant targeted and random killings across the country; compounding the already complex problem of insecurity in Nigeria. The chapters in this volume engage with these issues, presenting the different arguments on resource conflicts in Nigeria. They draw insights from similar conflicts in Nigeria’s colonial/post-independence past and events from around the world to proffer possible solutions to resource-related confrontations in Africa. By offering a collection of different intellectual perspectives on resource conflicts in Nigeria, this volume will be an important reference material for understanding the diversity of thought patterns that underpin the struggle and policy approaches towards resolving conflict situations in Africa. This volume will be of considerable interest to scholars of Africa, researchers in the humanities, social sciences, and conflict studies, and policymakers interested in understanding the resource crisis in Africa.

The Crest of the Innovation Management Research Wave

Edited by Marcus Tynnhammar, ISPIM, United Kingdom

For the ninth year running, the ISPIM Dissertation Award has attracted a wealth of PhD dissertations from all over the globe, which have once again contributed significantly to the field of Innovation Management. Comprising of submissions from the 2019 ISPIM Dissertation Award deemed to be of both high quality and high interest, The Crest of the Innovation Management Research Wave offers readers insights into the depth and breadth of research potential in the latest wave of innovation management. This publication provides a window into what the latest generation of scholars are contributing to the innovation management field, as well as into what they find significant and what might become important for the field over time. The wide selection included in this book offers a strong insight into new and upcoming developments in innovation management, drawing attention to interesting empirical areas to research. This edited volume will be of particular interest not only to students but also researchers and professional managers either interested or actively involved in cutting-edge research in the field of innovation management.

New Asian Approaches to Africa: Rivalries and Collaborations

Edited by Takuo Iwata, Ritsumeikan University, Kyoto, Japan

| Winner of the The Japan Consortium for Area Studies' 2021 Research Project Award | The 21st century has seen an increase in the presence and influence of Asian governments, firms and other stake-holders in Africa. With the changing times, changes in approaches to Africa by four major Asian countries (China, India, Japan and South Korea) have taken place. By tracing the history between these Asian countries and African countries, this collection reflects on the “new” phases of Asian Approaches to Africa. Composed by authors who are not only experienced expert scholars of African Studies, but also prominent specialists on African policies of Asian countries, this collection focuses on the official development assistance (ODA) as well as other crucial issues and actors such as business, civil society, and media to explore the new Asian approaches to Africa in a comprehensive manner. Organised into three sections, this collection explores the experiences of the “forums” (conferences, or summits) for Africa’s development hosted by four major Asian countries, reflects on Asian cultural influence in Africa, and highlights new phases of Asian approaches to Africa. This book looks to the future collaboration of Asian actors/ partners working in/ with Africa, rather than exaggerating rivalries and disputes in order to grasp the potentialities and challenges in the relationship between the two regions; an emerging and ongoing agenda that we will encounter further in the coming years. This book will be of interest to students, researchers and professors in universities, as well as research institutes on Asian and African Studies. It will also be of value to journalists, and government officials; particularly diplomats.

An Introduction to Computational Macroeconomics

Anelí Bongers, Universidad de Málaga, Spain et al.

This book presents an introduction to computational macroeconomics, using a new approach to the study of dynamic macroeconomic models. It solves a variety of models in discrete time numerically, using a Microsoft Excel spreadsheet as a computer tool. The solved models include dynamic macroeconomic models with rational expectations, both non-microfounded and microfounded, constituting a novel approach that facilitates the learning and use of dynamic general equilibrium models, which have now become the principal tool for macroeconomic analysis. Spreadsheets are widely known and relatively easy to use, meaning that the computer skills needed to work with dynamic general equilibrium models are affordable for undergraduate students in Advanced Macroeconomics courses.

Political Corruption in a World in Transition

Edited by Jonathan Mendilow, Rider University and Éric Phélippeau, Université Paris Nanterre, France

This book argues that the mainstream definitions of corruption, and the key expectations they embed concerning the relationship between corruption, democracy, and the process of democratization, require reexamination. Even critics who did not consider stable institutions and legal clarity of veteran democracies as a cure-all, assumed that the process of widening the influence on government decision making and implementation allows non-elites to defend their interests, define the acceptable sources and uses of wealth, and demand government accountability. This had proved correct, especially insofar as ‘petty corruption’ is involved. But the assumption that corruption necessarily involves the evasion of democratic principles and a ‘market approach’ in which the corrupt seek to maximize profit does not exhaust the possible incentives for corruption, the types of behaviors involved (for obvious reasons, the tendency in the literature is to focus on bribery), or the range of situations that ‘permit’ corruption in democracies. In the effort to identify some of the problems that require recognition, and to offer a more exhaustive alternative, the chapters in this book focus on corruption in democratic settings (including NGOs and the United Nations which were largely so far ignored), while focusing mainly on behaviors other than bribery.