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This open access book explores one of the most fiercely debated issues in China: if and how China will surpass the middle income trap that has plagued many developing countries for years. This book gives readers a clear picture of China today and acts as a reference for other developing countries. China is facing many setbacks and experiencing an economic slowdown in recent years due to some serious issues, and income inequality is one such issue deferring China’s development potential by creating a middle income trap. This book thoroughly investigates both the unpromising factors and favorable conditions for China to overcome the trap. It illustrates that traps may be encountered at any stage of development and argues that political stability is the prerequisite to creating a favorable environment for economic development and addressing this “middle income trap”. Written by one of China's central planners, this book offers precious insights into the industrial policies that are transforming China and the world and will be of interest to China scholars, economists and political scientists. Shaojie Zhou received his Ph.D. degree in Economics from the Chinese University of Hong Kong in 2007. Currently, Zhou serves as the associate professor of School of Public Policy and Management, the deputy director of the Institute for International Development and Global Governance at the school and a research fellow at the Institute of Contemporary China Studies at Tsinghua University, China. His research interests include development research and policy, the Chinese economy, international development, and global governance. Angang Hu now serves as the Professor of the Institute of State and Global Governance, Dean of the Institute of Contemporary China Studies, at Tsinghua University, China. He was a member of the Advisory Committee for the Thirteenth, Twelfth and Eleventh Five-Year Plans under the National Development and Reform Commission.

Asia—Economic conditions. --- Asia—Politics and government. --- Macroeconomics. --- Asian Economics. --- Asian Politics. --- Macroeconomics/Monetary Economics//Financial Economics. --- Economics --- Asian Economics --- Asian Politics --- Macroeconomics/Monetary Economics//Financial Economics --- Economy-wide Country Studies --- Macroeconomics and Monetary Economics --- Open access --- Chinese economy --- 13th five Year Plan --- Middle Income Trap --- Made in China 2025 --- Industrial Policy --- Politics & government --- Asia --- Macroeconomics --- Monetary economics

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This open access book discusses financial crisis management and policy in Europe and Latin America, with a special focus on equity and democracy. Based on a three-year research project by the Jean Monnet Network, this volume takes an interdisciplinary, comparative approach, analyzing both the role and impact of the EU and regional organizations in Latin America on crisis management as well as the consequences of crisis on the process of European integration and on Latin America’s regionalism. The book begins with a theoretical introduction, exploring the effects of the paradigm change on economic policies in Europe and in Latin America and analyzing key systemic aspects of the unsustainability of the present economic system explaining the global crises and their interconnections. The following chapters are divided into sections. The second section explores aspects of regional governance and how the economic and financial crises were managed on a macro level in Europe and Latin America. The third and fourth sections use case studies to drill down to the impact of the crises at the national and regional levels, including the emergence of political polarization and rise in populism in both areas. The last section presents proposals for reform, including the transition from finance capitalism to a sustainable real capitalism in both regions and at the inter-regional level of EU-LAC relations. Written by an international network of academics, practitioners and policy advisors, this volume will be of interest to researchers and students interested in macroeconomics, comparative regionalism, democracy, and financial crisis management as well as politicians, policy advisors, and members of national and regional organizations in the EU and Latin America. .

Macroeconomics. --- Financial crises. --- Democracy. --- Macroeconomics/Monetary Economics//Financial Economics. --- Financial Crises. --- Self-government --- Political science --- Equality --- Representative government and representation --- Republics --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Crises --- Economics --- Macroeconomics/Monetary Economics//Financial Economics --- Financial Crises --- Democracy --- Macroeconomics and Monetary Economics --- Financial History --- Political Science --- Open access --- Populism --- Latin America --- EU governance --- Crisis management --- Systemic aspects of unsustainability of the global economy --- Social and democratic impact --- Bi-regional macroeconomic dialogue --- Comparative regionalism --- European Union --- Macroeconomics --- Monetary economics --- Economic & financial crises & disasters --- History: specific events & topics --- Political structures: democracy --- European Union countries --- Economic policy.

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“Himino Ryozo has provided analysis of the 97-98 Japanese banking crisis that is clear, concise and compelling. Himino-san examines the causes, consequences and – most importantly – the lessons learnt from a traumatic period in Japanese financial history. He does so with the benefit of a career spent at the forefront of financial policy-making, both in Japan and internationally. It is often said ‘History doesn’t repeat itself, but it often rhymes.’ Many attributes of the Japanese banking crisis have, at their heart, difficult choices, missed opportunities and occasional failings that are in no way unique to Japan. Himino-san’s examination of the Japanese crisis should therefore be valued reading not just for Japanese policymakers, but financial policymakers the world over. Financial crises are all-too-frequent, and extremely costly. This analysis provides useful insights as to how we might do better to reduce and combat the crises of the future.” – Wayne Byres, Chair, Australian Prudential Regulation Authority This open access book provides a readable narrative of the bubbles and the banking crisis Japan experienced during the two decades between the late 1980s and the early 2000s. Japan, which was a leading competitor in the world’s manufacturing sector, tried to transform itself into an economy with domestic demand-led mature growth, but the ensuing bubbles and crisis instead made the country suffer from chronicle deflation and stagnation. The book analyses why the Japanese authorities could not avoid making choices that led to this outcome. The chapters are based on the lectures to regulators from emerging economies delivered at the Global Financial Partnership Center of the Financial Services Agency of Japan. Himino Ryozo is the Commissioner of the Financial Services Agency, Japan’s integrated financial regulator, and the Chair of the Financial Stability Board’s Standing Committee on Supervisory and Regulatory Cooperation, a global forum of regulatory authorities, central banks, finance ministries, and standard-setting bodies. He served as the Secretary General of the Basel Committee on Banking Supervision from 2003 to 2006 and helped the Committee finalize the Basel II capital adequacy standards. He graduated from the University of Tokyo (LL.B.) and Harvard Business School (M.B.A.).

Macroeconomics. --- Economic development projects—Finance. --- Economic history. --- Economic policy. --- Economics. --- Macroeconomics/Monetary Economics//Financial Economics. --- Development Finance. --- Economic History. --- Political Economy/Economic Systems. --- Economic theory --- Political economy --- Social sciences --- Economic man --- Economic nationalism --- Economic planning --- National planning --- State planning --- Economics --- Planning --- National security --- Social policy --- Economic conditions --- History, Economic --- Macroeconomics/Monetary Economics//Financial Economics --- Development Finance --- Economic History --- Political Economy/Economic Systems --- Macroeconomics and Monetary Economics --- Political Economy and Economic Systems --- Japanese banking crisis --- Financial Stability --- Banking Regulation in Japan --- Financial Crisis Management in Japan --- Japanese Economy --- Macro-prudential Policy --- Japanese financial cycle of 1986-2003 --- Open Access --- Macroeconomics --- Monetary economics --- Finance --- Development economics & emerging economies

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This open access book tells the story of how Sweden is becoming a virtually cashless society. Its goal is to improve readers’ understanding of what is driving this transition, and of the factors that are fostering and hampering it. In doing so, the book covers the role of central banks, political factors, needs for innovation, and the stakeholders involved in developing a cashless ecosystem. Adopting a historical standpoint, and drawing on a unique dataset, it presents an academic perspective on Sweden’s leading role in this global trend. The global interest in the future of cash payments makes the Swedish case particularly interesting. As a country that is close to becoming a cashless economy, it offers a role model for many other countries to learn from - whether they want to stimulate or reduce the use of cash. This highly topical book will be of interest to politicians, researchers, businesses, financial service providers and payment service providers, as well as fintech start-ups, regulators and other authorities. .

Bank marketing. --- Macroeconomics. --- Management. --- Financial Services. --- Macroeconomics/Monetary Economics//Financial Economics. --- Innovation/Technology Management. --- Administration --- Industrial relations --- Organization --- Economics --- Banks and banking --- Marketing of bank services --- Marketing of banking services --- Marketing --- Industrial management. --- Business administration --- Business enterprises --- Business management --- Corporate management --- Corporations --- Industrial administration --- Management, Industrial --- Rationalization of industry --- Scientific management --- Management --- Business --- Industrial organization --- Finance --- Bank marketing --- Macroeconomics --- Industrial management

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This open access book gives a concise introduction to the practical implementation of monetary policy by modern central banks. It describes the conventional instruments used in advanced economies and the unconventional instruments that have been widely adopted since the financial crisis of 2007–2008. Illuminating the role of central banks in ensuring financial stability and as last resort lenders, it also offers an overview of the international monetary framework. A flow-of-funds framework is used throughout to capture this essential dimension in a consistent and unifying manner, providing a unique and accessible resource on central banking and monetary policy, and its integration with financial stability. Addressed to professionals as well as bachelors and masters students of economics, this book is suitable for a course on economic policy. Useful prerequisites include at least a general idea of the economic institutions of an economy, and knowledge of macroeconomics and monetary economics, but readers need not be familiar with any specific macroeconomic models.

Macroeconomics --- Economic theory & philosophy --- Macroeconomics/Monetary Economics//Financial Economics --- Economic Theory/Quantitative Economics/Mathematical Methods --- Financial Economics --- Macroeconomics and Monetary Economics --- Quantitative Economics --- monetary policy --- implementation of monetary policy --- financial stability --- central bank --- flow of funds --- International monetary frameworks --- open access --- Quantitative Finance --- Monetary economics