This book focuses on the recent rise of new regional economic institutions such as the Chiang Mai Initiative Multilateralisation, the Asian Infrastructure Investment Bank, and the Regional Comprehensive Economic Partnership, which were established, in part, as a result of dissatisfaction of dynamic emerging markets with global economic institutions such as the IMF, the World Bank, and the GATT/WTO. The latter were formed by advanced economies in the West, after the historic Bretton Wood Conference of 1944. In doing so, the book addresses how this recent round of decentralisation, defined as the co-existence of “senior” global institutions and a plethora of newly-established regional institutions, has affected global economic governance, and the delivery of global public goods. It also poses the question if this has led to the fragmentation of global economic governance. The book adds value to existing literature by using a benefit-risk analytical framework to study the decentralisation process. Unlike the “contested multilateralism” argument used by some authors which focuses on the costs of decentralisation, the authors argue that benefits must also be considered. It also describes and analyses the establishment of global and regional international economic institutions and the evolving relationships between the two. Third, the authors argue that this decentralisation process will continue in the postpandemic period and recommend policies to reset the relationship between global and regional institutions. And lastly, the book discusses proposals to reform the international monetary system including the global reserve system with a view to reducing the hegemony of the US dollar. Throughout the book, the role for Asia is also identified, and elaborated on.

Policymakers, academics, think tanks and practitioners will benefit from the international perspective of the book, particularly those interested in the influential Asian architecture. This book is also a useful reference tool for students of macroecon

Asian economies continue to be subject to new shocks: US monetary policy tightening, the adoption of negative-interest-rate policies by central banks all over the world, the slowdown of the People's Republic of China, and the sharp drop in oil and other commodity prices. All these highlight the vulnerability of the region to volatile trade and capital flows even as the global and Asian regional financial architecture evolves. This volume analyzes the vulnerabilities of Asian economies to external economic and financial shocks and assesses the performance of Asian regional institutions in financial surveillance and cooperation. It also evaluates ongoing reforms of the global financial architecture, including the International Monetary Fund (IMF), the Financial Stability Board, and reviews the experience of the "Troika" (European Commission, European Central Bank, and the IMF) in managing the European sovereign debt and banking crisis. Based on these, the book develops valuable recommendations to strengthen the Asian regional financial architecture and improve cooperation with global multilateral institutions.

Since the days of Montesquieu and Jefferson, political decentralization has been seen as a force for better government and economic performance. It is thought to bring government 'closer to the people', nurture civic virtue, protect liberty, exploit local information, stimulate policy innovation, and alleviate ethnic tensions. Inspired by such arguments, and generously funded by the major development agencies, countries across the globe have been racing to devolve power to local governments. This book re-examines the arguments that underlie the modern faith in decentralization. Using logical analysis and formal modeling, and appealing to numerous examples, it shows that most are based on vague intuitions or partial views that do not withstand scrutiny. A review of empirical studies of decentralization finds these as inconclusive and mutually contradictory as the theories they set out to test.

Given the increasing presence of non-Western nations in global affairs, Hiro Katsumata and Hiroki Kusano explore their responses to the backlash taking place in the West against the global spread of liberalism – against the global spread of free trade, multilateral institutions, and liberal-democratic politics. Katsumata and Kusano concentrate on the cases of Egypt, Brazil, Japan, ASEAN members, Russia, and China. Mounted by these non-Western nations are three kinds of responses: illiberal bandwagoning, counter-backlash, and thirdway charting. Each of these responses inevitably has significant consequences for the fate of the existing liberal international order established and sustained by the Western countries in the post-war era, either accelerating the collapse of this order by causing additional damage to it, or putting the brakes on its collapse by giving support to it. An invaluable resource for scholars in International Relations and Comparative Politics.

This book covers a lot of ground in contemporary macroeconomics, from fundamental theories such as market structures and equilibrium to emerging concepts that reflect the most critical challenges of modern times, including economic slowdowns, the resilience of public health systems, digitalization, environmental footprints, and many more. The COVID-19 outbreak has aggravated the recurrent problems of poverty and income inequality between countries, food insecurity and hunger, unemployment, and social disorders that have resulted in the exacerbation of political, economic, and trade tensions between countries. In view of the damaging consequences of the pandemic for the entire global economy, the book examines how existing macroeconomic tools and policies could be adapted to the new normal to ensure sustainable post-pandemic development and growth. The main text is interspersed with real-life illustrations and cases that demonstrate practical implications of the concepts under study. This makes the reading relevant and active. Every chapter starts with learning objectives and ends with a series of questions and quizzes that enable easier reinforcement of the course content. This book is written mainly for students, but it would be much useful to the broader public audience, including postgraduates, researchers, and business people who will be able to learn all recent updates about macroeconomics and the post-pandemic perspectives of the global economy.

Includes the most important issues, concepts, trends and technologies in the field of global information technology management, covering topics such as the technical platform for global IS applications, information systems projects spanning cultures, managing information technology in corporations, and global information technology systems and socioeconomic development in developing countries.