The Postwar Evolution of Development Thinking, Charles P. Oman; Ganeshan Wignaraja

Автор: Lo Andrew W.
Название: Adaptive Markets: Financial Evolution at the Speed of Thought
ISBN: 0691135142 ISBN-13(EAN): 9780691135144
Издательство: Wiley
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Цена: 33790.00 T
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A new, evolutionary explanation of markets and investor behavior

Half of all Americans have money in the stock market, yet economists can't agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe--and as financial bubbles, crashes, and crises suggest. This is one of the biggest debates in economics and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew Lo cuts through this debate with a new framework, the Adaptive Markets Hypothesis, in which rationality and irrationality coexist.

Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency isn't wrong but merely incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. Lo's new paradigm explains how financial evolution shapes behavior and markets at the speed of thought--a fact revealed by swings between stability and crisis, profit and loss, and innovation and regulation.

A fascinating intellectual journey filled with compelling stories, Adaptive Markets starts with the origins of market efficiency and its failures, turns to the foundations of investor behavior, and concludes with practical implications--including how hedge funds have become the Gal pagos Islands of finance, what really happened in the 2008 meltdown, and how we might avoid future crises.

An ambitious new answer to fundamental questions in economics, Adaptive Markets is essential reading for anyone who wants to know how markets really work.

Автор: Cohen Solomon I
Название: World Development And Economic Systems: Theory And Applications
ISBN: 9814632325 ISBN-13(EAN): 9789814632324
Издательство: World Scientific Publishing
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Цена: 141510.00 T
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Mainstream economics generally assumes a universalistic market-oriented economic behavior that drives countries to adopt one economic system, with marginal variations. This book extends the scope of theory and applications by asserting that other distinct behaviors evolve and dominate in other economic systems. Systemic differences arise from distinct social, political and economic behavioral-motivational types that associate with intensive agent activity in household, state and firm settings. External conditions, historical events, and agent interactions ultimately result in domination of one motivational type over others; thus determining distinct profiles of structure, conduct, and performance in different economic systems, that are generally observed in the adopting countries.

The book validates the theory empirically, traces the historical evolution of the respective economic systems in the world regions and evaluates their responses to various systemic failures such as monopoly, uncertainties, externalities and collective needs. The evaluation is extended to structural changes and system performance regarding growth and distribution.

This book draws on microeconomics, welfare economics, development economics and the international economy. The book projects the influence potential of leading countries/systems, and treats effects of displacement of incumbent leaders (US, Japan) by newcomer leaders (China, India) on system competition and on world governance.

Автор: Papadimitriou
Название: Contributions to Economic Theory, Policy, Development and Finance
ISBN: 1137450959 ISBN-13(EAN): 9781137450951
Издательство: Springer
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Цена: 97820.00 T
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Описание: This study combines lessons drawn from events and experiences of developing countries and examines them in relation to Jan Kregel`s ideas on economics and development. The contributors provide in-depth analysis on: financial stability and crises, monetary systems, banking, global governance, employment, inflation and political economy

Автор: P.K. Rao
Название: Development Finance
ISBN: 3642072771 ISBN-13(EAN): 9783642072772
Издательство: Springer
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Цена: 83810.00 T
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Описание: Improved understanding of the key role of financial aspects in the growth and development of economic systems is an important aspect of economic analysis. This first textbook on development finance provides a comprehensive coverage of this new area of economics. A unique perspective combines transaction cost economics and neoclassical economics.

Автор: Hough
Название: The Long Process of Development
ISBN: 1107670411 ISBN-13(EAN): 9781107670419
Издательство: Cambridge Academ
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Цена: 46470.00 T
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Описание: This groundbreaking book examines England and Spain`s history from 1000 to 1800 and the legacy of these countries in the United States and Mexico to explain why development takes centuries. It emphasizes the need for an effective state and is an indispensable supplement to books that focus on representative institutions.

Автор: Richard M.Auty, Raymond F. Mikesell
Название: Sustainable Development in Mineral Economies
ISBN: 0198294875 ISBN-13(EAN): 9780198294870
Издательство: Oxford Academ
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Цена: 179520.00 T
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Описание: Mineral economies are less successful than their resource-deficient neighbours. This book examines this paradox, detailing problems faced by mineral economies. It claims the key factor is not the initial growth, but the maintenance of the economic and social conditions for sustaining that growth.

Автор: Matti Pohjola
Название: Information Technology, productivity, and Economic Growth – International Evidence and Implications for Economic Development
ISBN: 0199243980 ISBN-13(EAN): 9780199243983
Издательство: Oxford Academ
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Цена: 150480.00 T
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Описание: The often-advocated view that the information technology revolution will change the world must stem from the basic premiss that invesent in IT has a visible impact on productivity and economic growth. But how can we measure this impact and how large is it? By surveying previous studies and by presenting new micro- and macroeconomic evidence, this collection shows that in recent years the use of IT in the production of goods and services has had a strong influence on productivity and economic growth in industrial and in newly industrialized countries. Yet developing countries seem neither to have invested in IT nor benefited from such investments to the same extent as industrial countries. There is concern that information is becoming a commodity, like income and wealth, by which countries are classified as rich and poor. The contributors to this volume argue that investment in infrastructure, physical capital, and education is the key to economic development. This is an old policy prescription in the economics of development. What is new is the suggestion that the IT content of these investments should be high. The use of IT is so widely spread throughout the world economy that no single country can avoid investing in this technology if it wants to improve the standard of living of its citizens. Besides providing citizens with access to IT and to IT education and training, governments should promote participation in the information society, thus generating a sufficiently strong demand base for information products. By developing advanced applications of IT, and by becoming a model for the private sector, governments can alter worker, firm, and consumer attitudes, and lower their costs of adopting IT. The use of IT, not necessarily its production, is what matters for economic development.