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The fishing industry's critical dependence on the natural environment makes it very different from other economic sectors. How it can optimally exploit a common resource while ensuring its sustainability raises many economic challenges. This book, suitable for undergraduate and postgraduate courses on fisheries economics and management, provides an introduction to the economics of the fishing industry and the role of fisheries in the world economy.
The book's primary focus is on capture fisheries, although the discussion brings in wider aquaculture for comparative analysis. The key economic concepts that drive the industry, most notably sustainable yield, are explained in detail, before examining how the industry puts them into practice in a complex regulatory environment. The variability of fish stocks is considered and case studies of some spectacular stock crashes are discussed. The law of the sea is explained and how the movement of fish stocks across ocean boundaries has created regulatory bodies to manage international fisheries. At the heart of this management lies the quota system and the book outlines how it works and how, controversially, such quotas have become transferable.
The book offers readers a comprehensive and rigorous guide to the economic considerations motivating the industry and highlights the environmental challenges facing the sector as global consumption of fish continues to rise.
Without access to mainstream financial services, people pay more for goods and services and have less choice. The impacts of exclusion are not just financial but also affect education, employment, health, housing, and overall well-being.
Limited access to financial services also impedes economic development in impoverished communities, which has prompted policy-makers, private institutions and NGOs to develop strategies to address financial inclusion. Drawing on a series of illustrative case studies - from India's micro-credit industry to mobile banking in South Africa - Samuel Kirwan examines the various types of policy implementation in developed and developing countries, and considers the social impact and efficacy of such economic intervention. While acknowledging the risks and pitfalls of government-backed and private financial inclusion practices, the book makes a strong case for the value of financial inclusion both as a conceptual term for clarifying the stakes of material poverty and as a policy tool that creates a space for meaningful changes in economic practices.
The book provides valuable insight into the role of government policy in combatting inequality and is a welcome resource for researchers examining the socio-economic dimensions of poverty and attempts to address it.
Despite being invariably misunderstood by anglophones and often derided in the English-language financial press, the French economy is one of the world's major economies. For many years characterized by a distinctive economic model in which the French state intervened to correct or prevent market failures, as France has embraced the global market, its economy has increasingly converged with the western norm, but it remains different from its neighbours, particularly Germany and the UK, in a number of important respects.
This general economic history of modern France - the first in the English language for nearly twenty years - provides an authoritative analysis of the workings of the modern French economy since its postwar reforms through to the present day. The book explores the monetary and fiscal policies of successive governments and the country's economic performance through a variety of indicators. In particular the book considers the attempts by the state to correct the regional imbalances associated with the contraction of agriculture and the decline of historically important industries as well as mitigating the dominance of Paris. The parts played by demographic change, migration, inequality, and the European project in French economic development are also investigated alongside the strength and competitiveness of key industries like finance, energy and transport.
Seven decades after the liberation of Europe, the strongmen of global politics are back. With a style and strategy of leadership that is anathema to liberal democratic norms and practices, the strongman challenges the principles of consensus and collaboration, willingly tears up trade agreements, invades territory and seeks to provoke and disrupt the status quo in order to achieve advantage.
In this fascinating study of strongman power, Hans Kribbe draws on a range of political ideas to provide insight into the strongman's seemingly irrational and idiosyncratic behaviour to better understand how he (it is always 'he') wields power and to what end.
Although the strongman's behaviour confounds and frustrates his counterparts abroad, Kribbe's analysis offers hope that it can be understood, anticipated and even neutralized. The implication of Kribbe's study is unequivocal: with the world's largest economies, as well as strategic neighbouring states controlled by strongmen, Europe must learn to speak their language if it is to beat them at their own game.
Although still the world's third largest economy, Japan continues to feel the effects of the collapse of a massive asset price bubble in the early 1990s. In recent years further setbacks, including both the Asian and global financial crises, and the 2011 Fukushima earthquake, have only added to the economy's difficulties and made its prospects under Abenomics at best mixed.
Hiroaki Richard Watanabe examines the ups and downs of Japan's postwar economic history to offer an up-to-date and authoritative guide to the workings of Japan's economy. The book highlights the country's distinct business networks and its unique state-market relationship. It explores the characteristic institutional complementarity that exists among different sectors and business practices and gives particular attention to human factors, such as labour market dualism, gender discrimination and migration. Although often associated in western minds with futuristic automated efficiency, Japan's economy, Watanabe shows, retains many inefficient and peculiar business practices that do not comply with global standards.
The book provides readers with a concise survey of Japan's recent economic history, the economy's characteristic features and the challenges it faces.
Since the global financial crisis, the world has seen a stark rise in financial investment in farming and agricultural production. Indeed, finance has been identified as one of the main causes of the so-called 'global land rush'. In a world with a growing population that needs to be fed, the financial returns from agriculture are sold as safe bets. The debate that this has prompted has been frequently alarmist, with financiers blamed for rising land prices, corporate enclosures, the dispossession of smallholder farmers and the expansion of large-scale industrial agriculture.
Stefan Ouma speaks to these concerns via an ethnographic journey through the agrifocused asset management industry. His penetrating analysis of case studies taken from New Zealand and Tanzania allows him to put global finance 'in place', bringing into view the flesh-and-blood institutions, globe spanning social relations, everyday practices and place-based value struggles that are often absent in broad-brushed narratives on the 'financialization of agriculture'. The book closes with a key question for the Anthropocene: which form of finance forwhich kind of food future?
The 2020 World Happiness Report ranked Finland, for the third year running, as the world's happiest country.
The 'Nordic Model' has long been touted as the aspiration for social and public policy in Europe and North America, but what is it about Finland that makes the country so successful and seemingly such a great place to live?
Is it simply the level of government spending on health, education and welfare? Is it that Finland has one of the lowest rates of social inequality and childhood poverty, and highest levels of literacy and education?
Finland clearly has problems of its own - for example, a high level of gun ownership and high rates of suicide - which can make Finns skeptical of their ranking, but its consistently high performance across a range of well-being indicators does raise fascinating questions.
In the quest for the best of all possible societies, Danny Dorling and Annika Koljonen explore what we might learn from Finnish success.
Productivity looms large in public policy discussions yet many find themselves hard-pressed to explain exactly what the term means. Even within economics, its nature and significance is contested and the focus of complex debate. Michael Haynes cuts through the jargon and political sloganeering to provide a detailed examination of the concept, how it is used and why it is held by economists to be so important in evaluating the health of economies.
The book explores why productivity grows or fails to grow in certain contexts, in particular how real world variables can interact with measurements of efficiency and output. The difficulties of measuring its scope are examined alongside the larger question of whether growth in productivity is sustainable, both at the level of national economies and globally. Whether productivity remains the motor of economic growth that it once was and continues to be the most appropriate economic indicator for modern economies is shown to be a key consideration.
For anyone searching for a clear, engaging and level-headed guide to one of the most important metrics for understanding economic growth, this book will be warmly welcomed.
Germany's public savings banks 'Sparkassen' are a remarkable and puzzling phenomena. No other advanced industrial country relies as heavily on such small, public financial institutions to fuel its economy and how is it that such small institutions can drive one of the biggest and most successful economies in the world?
In theory, their diminutive size should hinder their ability to function in an environment where they compete with the capital and muscle of major international banks. Yet at the height of the financial crisis, when other banks drastically reduced lending, new loans made by Sparkassen increased as they continued to provide liquidity and lend to start-up firms. How have they managed to survive the economic turmoil and global pressures of the last few decades? What has enabled them to stay at the heart of the German economy? In a period of neoliberal 'too-big-to-fail' thinking, how have these relics of an ordoliberal past managed to flourish?
Mark Cassell answers these and many other questions in his exploration of the unique entity that is Germany's public savings bank system and the lessons it offers to banking systems worldwide.
Since the late-1990s Turkey has emerged as a significant economic power. Never colonized and straddling the continents of Europe and Asia, it plays a strategically important role in a region of increasing instability.
Bülent Gökay examines Turkey's remarkable domestic political and economic transformation over the past two decades within the context of broader regional and global changes. By situating the story of Turkey's economic growth within an analysis of the structural changes and shifts in the world economy, the book provides new insights into the functioning of Turkey's political economy and the successes and failures of its ruling party's economic management.
In the debates about the UK's future relationship with the European Union, all sorts of possible alternatives have been bandied about, from 'Singapore on the Thames' to 'Canada Plus', from 'Switzerland' to 'Ukraine', from 'Norway' to 'Australia'. But what do these alternative relationship models really consist of and would they be viable for the UK?
Martin Westlake brings together distinguished contributors to examine these various options, real and potential, and to consider whether they would offer a workable solution for the continued relationship between the EU and post-Brexit Britain.
These essays offer expert insight into the scale and challenge of the practical issues facing Britain as it seeks to establish a new future with its largest trading partner.
The first edition of The Price of Football quickly established itself as the go-to guide to understanding football club finance for the serious fan. Kieran Maguire, one of the UK's top football finance analysts, shows how professional clubs operate as businesses and explains, in non-technical language, how to read, understand and interrogate club accounts.
As a clear-headed analysis and presentation of the financial imperatives and challenges facing football clubs across the English and Scottish Leagues, it has become a welcome resource not only for students of the industry, but by a wider constituency of supporters looking to understand their club's latest transfer deal, or season ticket price.
This fully revised and updated edition includes analysis of the most recent club accounts, the latest legal rulings on club affairs, as well as the impact of Covid-19 on the game's finances.
The European Central Bank administers monetary policy for the eurozone and is tasked with maintaining price stability by keeping inflation below 2 per cent. This brief mandate belies the complexity of managing the monetary policy for the 19 member states of the euro, not to mention the political implications thereof.
This book sets out the history, development and day-to-day workings of this key institutional pillar of the European Union. It assesses its work, independence, the policies and instruments at its disposal and the evolution of its role during, and after, the eurozone crisis of 2010. Incomplete monetary union, Germany's hegemonic ambitions and different economic policies from individual member countries are shown to pose formidable challenges to the ECB's macroeconomic management.
Over recent years it has become increasingly clear that the European Union is falling short of its promise to enhance social cohesion across the continent. Welfare state modernization has been at the centre of divisive debates over the redistribution of wealth and imbalances between a wealthy European core and its peripheries. Some see the policies and governance of the EU as part of the problem, others rather as the solution.
This book examines the key issues facing the EU's social policy-making. Each chapter focuses on a single challenge and explores the arguments and considerations that coalesce around it. The book helps students and researchers alike to understand how the EU operates and shapes social policy on multiple levels, and to better assess the EU's role in supporting social cohesion.
Before the Great Financial Crisis of 2008-09, significant reductions in official interest rates typically proved sufficient to generate sustainable economic recoveries from downturns. However, with economies and financial markets in freefall during the crisis despite a cut in interest rates to effectively zero, policymakers in some advanced economies launched a major new tool called quantitative easing (QE). This involved central banks purchasing huge amounts of financial assets.
This book offers a thorough and perspicacious analysis of QE, which has become a recovery method of last resort. Whilst it was successful in averting another Great Depression and stimulating growth, it remains controversial and continues to promote widespread debate in economics, financial, and political-economy circles. This book is essential reading for anyone wishing to understand central banking in the national economy.
Why are British banks so risk averse when it comes to providing long-term loan finance to businesses? In Europe the dominance of bank lending in the financing of small and medium sized enterprises (SMEs) is well-observed. Yet in the UK exactly the opposite is the case, where most SME funding is via bank overdrafts and credit cards.
The roots of this significant difference lie partly in the historical, institutional, political and cultural structure of the British banking system, and in parallel explanatory factors in the UK SME population, but the real mystery is why, in the twentieth century, there appears to have been no significant change in the attitudes of British banks towards providing long-term loan finance to SMEs. Indeed, this risk aversion might have been expected to alter during the postwar period and the substantial expansion of consumer demand and expanded commodity production, but it did not.
This book explores not only how the historical formation of British banking structures produced such a relatively risk-averse arrangement compared to other European countries and the United States, but also why this banking attitude has persisted to the present day. The book concludes with a suite of recommendations necessary for British banks to provide a more balanced mix of financial provision to SMEs.
The cultural industries and their products and services make a significant contribution to the global economy and are seen as strategic sectors for sustainable economic growth. However, industries such as art, design, film, music, performing arts, publishing, television and radio, present particular challenges for economic analysis. They can be goods or services that are both public and private, protected by copyright and freely available, consumed and created, as well as susceptible to fashion and technological development.
In this fascinating introduction to the cultural economy, Christiane Hellmanzik examines the market for creative work and reveals the economic relationships between human creativity, intellectual property and technology. Through the careful use of case studies, the book explores the core economic considerations such as supply and demand, competition and pricing, alongside macro trends such as globalization, digitalization and the internet, which are changing the industry's business models.
Health economics has become an established field of enquiry over recent years and is now an important contributor to normative health policy, and decisions concerning the allocation of resources and the quality of healthcare provision across the world.
Medical Economics, written by two physicians who are also qualified economists, introduces readers to the core economic considerations in healthcare provision and management. Addressing concerns that are relevant to both the individual and to public health, the authors draw on a wider range of economic tools and analytical frameworks than typically offered by standard textbooks. Combining thought experiments with real-world examples they illustrate the healthcare challenges facing today's policy-makers.
The book is aimed specifically at courses in medicine, public health, and healthcare management and administration, but also at economists looking for a broader perspective on healthcare systems, including healthcare financing, markets, the role of the state and other macroeconomic considerations, evaluation methods, healthcare technology, paying for medical care, health insurance and ethical issues.
Why are measures of stress and anxiety on the rise, when economists and politicians tell us we have never had it so good? While statistics tell us that the vast majority of people are getting steadily richer the world most of us experience day-in and day-out feels increasingly uncertain, unfair, and ever more expensive. In Angrynomics, Eric Lonergan and Mark Blyth explore the rising tide of anger, sometimes righteous and useful, sometimes destructive and ill-targeted, and propose radical new solutions for an increasingly polarized and confusing world. Angrynomics is for anyone wondering, where the hell do we go from here?
Social movements play a significant role in the political and social landscape of Latin America. They emanate from different sections of society and are motivated by many different concerns, including workers' rights, agrarian and land reform, the rights of indigenous peoples, gender inequality and the fight against environmental degradation.
Ronaldo Munck explores the mosaic of interlocking and connected issues that make up the complex map of social movements in Latin America and shows why, despite being a fragmented political force, these movements are at the centre of any future progressive politics in the region. As such they require careful understanding and, he suggests, a more nuanced theoretical approach than previous studies have offered.
Combining insights from Latin American approaches to social movement theory and detailed empirical case studies, the book provides readers with an understanding of the vital role social activism plays in the region and offers students the methodological tools to develop their own research agendas.