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Appalachia's Path to Dependency

Rethinking a Region's Economic History, 1730-1940

Paul Salstrom

In Appalachia's Path to Dependency, Paul Salstrom examines the evolution of economic life over time in southern Appalachia. Moving away from the colonial model to an analysis based on dependency, he exposes the complex web of factors -- regulation of credit, industrialization, population growth, cultural values, federal intervention -- that has worked against the region.

Salstrom argues that economic adversity has resulted from three types of disadvantages: natural, market, and political. The overall context in which Appalachia's economic life unfolded was one of expanding United States markets and, after the Civil War, of expanding capitalist relations.

Covering Appalachia's economic history from early white settlement to the end of the New Deal, this work is not simply an economic interpretation but draws as well on other areas of history. Whereas other interpretations of Appalachia's economy have tended to seek social or psychological explanations for its dependency, this important work compels us to look directly at the region's economic history. This regional perspective offers a clear-eyed view of Appalachia's path in the future.

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Applied Time Series Econometrics

A Practical Guide for Macroeconomic Researchers with a Focus on Africa

Alemayehu Geda

This book attempts to demystify time series econometrics so as to equip macroeconomic researchers focusing on Africa with solid but accessible foundation in applied time series techniques that can deal with challenges of developing economic models using African data.

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The Arab Spring Five Years Later

Case Studies

edited by Hafez Ghanem

This second volume of The Arab Spring Five Years Later provides the original research papers on which volume 1 by Hafez Ghanem is based. In this edited volume, Ghanem assembles a collection of important research conducted by scholars from a variety of backgrounds to provide a deeper understanding of the economic factors that led to the Arab Spring. Chapters examine women's issues and agricultural practices in Morocco; urban transportation, small enterprises, governance, and inclusive planning in Egypt; reconstruction in Iraq; youth employment in Tunisia; education in Yemen; and more.

In addition to Hafez Ghanem, contributors include Mongi Boughzala (University of Tunis ElManar, Tunisia), Emmanuel Comolet (French Agency for Development), Mohamed Tlili Hamdi (University of Sfax, Tunisia), Seiki Tanaka (University of Amsterdam), and from the Japan International Cooperation Agency (JICA), Yuriko Kameyama, Mayada Magdy, Hideki Matsunaga, Yuko Morikawa, Akira Murata, Kei Sakamoto, Masanori Yoshikawa, and Takako Yuki.

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The Arab Spring Five Years Later

Toward Great Inclusiveness

Hafez Ghanem

Hafez Ghanem delivers a thorough assessment of the economic dimensions of the Arab Spring, beginning with political developments since the revolutions and the economic impact of changes in legal and institutional frameworks. Arab economies grew at healthy rates before the revolts, but the benefits of economic growth were unfairly distributed. The politically connected reaped great benefits, while educated youth could not find decent jobs, and the poor and middle class struggled to make ends meet.

Ghanem advises the Arab Spring countries to adopt new economic policies and programs that enhance inclusiveness, expand the middle class, and foster growth in undeveloped regions. Key elements include strengthening economic institutions, developing small businesses, reforming the education system to better prepare Arab youth for the modern labor market, promoting gender equality with the objective of raising female labor market participation rates, and setting up programs for rural and regional development to reduce inequality and eliminate extreme poverty.

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Aramco, the United States, and Saudi Arabia

A Study of the Dynamics of Foreign Oil Policy, 1922-1950

Irvine H. Anderson Jr.

Irvine Anderson carefully reconstructs the years between 1933 and 1950 and provides a case study of the evolution of U.S. foreign oil policy and of the complex relationships between the U.S. government and the business world.

Originally published in 1987.

The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These paperback editions preserve the original texts of these important books while presenting them in durable paperback editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

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Art and the Market

Roger Fry on Commerce in Art, Selected Writings, Edited with an Interpretation

Craufurd D. Goodwin

Roger Fry, a core member of the Bloomsbury Group, was involved with all aspects of the art market as artist, critic, curator, historian, journalist, advisor to collectors, and gallery operator. He is especially remembered as the person who introduced postimpressionist art to Britain. Reprinted in this volume are seventeen of Fry's works on commerce in art. Although he had no formal training in economics, Fry addressed the art market as a modern economist might do. It is therefore fitting that his writings receive here an original interpretation from the perspective of a modern economist, Craufurd D. Goodwin. Goodwin explores why Fry's work is both a landmark in the history of cross-disciplinary thought and a source of fresh insights into a wide range of current policy questions. The new writings included contain Fry's most important contributions to theory, history, and debates over policy as he explored the determinants of the supply of art, the demand for art, and the art market institutions that facilitate exchange. His ideas and speculations are as stimulating and provocative today as when they were written. "A fascinating selection of essays by one of the twentieth century's most thoughtful and stimulating critics. Goodwin's introduction sets the stage beautifully, providing useful links to Veblen and Keynes." --D. E. Moggridge, University of Toronto "Art and the Market uncovers new connections between aesthetics and art in the Bloomsbury Group. . . . Goodwin adds significantly to the understanding of cultural economics in the work of Fry himself as well as J. M. Keynes and even Leonard and Virginia Woolf." --S. P. Rosenbaum, University of Toronto "All those interested in the arts and economics, and their connections, will be delighted by this collection, as will be students of Bloomsbury." --Peter Stansky, Stanford University Craufurd D. Goodwin is James B. Duke Professor of Economics, Duke University.

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The Art of the Turnaround

Creating and Maintaining Healthy Arts Organizations

Michael M. Kaiser

Practical advice (supported by extensive case studies) for fixing troubled arts organizations Many arts organizations today find themselves in financial difficulties because of economic constraints inherent in the industry. While other companies can improve productivity through the use of new technologies or better systems, these approaches are not available in the arts. Hamlet requires the same number of performers today as it did in Shakespeare’s time. The New York Philharmonic requires the same number of musicians now as it did when Tchaikovsky conducted it over one hundred years ago. Costs go up, but the size of theaters and the price resistance of patrons limit what can be earned from ticket sales. Therefore, the performing arts industry faces a severe gap between earnings and expenses. Typical approaches to closing the gap—raising ticket prices or cutting artistic or marketing expenses—don’t work. What, then, does it take to create and maintain a healthy arts organization? Michael M. Kaiser has revived four major arts organizations: the Kansas City Ballet, the Alvin Ailey American Dance Theater, American Ballet Theatre, and London’s Royal Opera House. In The Art of the Turnaround he shares with readers his ten basic rules for bringing financially distressed arts organizations back to life and keeping them strong. These rules cover the requirements for successful leadership, the pitfalls of cost cutting, the necessity of extending the programming calendar, the centrality of effective marketing and fund raising, and the importance of focusing on the present with a positive public message. In chapters organized chronologically, Kaiser brings his ten rules vividly to life in discussions of the four arts organizations he is credited with saving. The book concludes with a chapter on his experiences at the John F. Kennedy Center for the Performing Arts, an arts organization that needed an artistic turnaround when he became the president in 2001 and that today exemplifies in practice many of the ten rules he discusses throughout his book.

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Arthritic Japan

The Slow Pace of Economic Reform

Edward J. Lincoln

In the late 1980s, Japan's strong economic performance put it on a the verge of becoming a major player in regional and global affairs. But nearly a decade of economic stagnation, a mounting of bad debts, and a continuing stream of scandals have tarnished the country's distinctive economic model. At the turn of the millennium, the Japanese economy remained mired in a pattern of stagnation. As this disappointing condition dragged on, the government pursued policies to restore economic health. Yet Japan has been slow to embrace the systemic reform on which a robust economic recovery depends. In Arthritic Japan, Edward J. Lincoln examines the causes and implications of this weak response. Concluding that Japan is unlikely to pursue the vigorous reform necessary for economic growth, Lincoln warns of serious consequences: a stumbling economy bedeviled by recession and financial crisis, eroding leadership in economic and security issues, a continued defensive trade posture, and a disgruntled population that could turn a more nationalistic stance in foreign policy.

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The ASEAN Economic Community and Beyond

Myths and Realities

by Sanchita Basu Das

The year 2015 has special significance for regional economic integration. The ASEAN Community, integrating the political, economic and social aspects of regional cooperation, will complete its first milestone by December 2015. Expectations of tangible benefits under an ASEAN Economic Community have attracted much attention though many of the initiatives will be realized post-2015. Following the policy of open regionalism, ASEAN has also signed free trade agreements with Australia, New Zealand, China, India, Japan and South Korea. It has launched negotiations for the Regional Comprehensive Economic Partnership (RCEP) agreement in 2013, with expected breakthrough by end-2015. The Southeast Asian economies are also involved in two other regional initiatives. First is the Trans-Pacific Partnership (TPP), initiated by the United States. As part of the U.S. "pivot to Asia", the TPP is envisioned as a "comprehensive and high-quality" agreement and has concluded its negotiation in October 2015. Second, the discussions on regional connectivity have broadened; China has emerged as a recent lead proponent with its proposals for "One Belt, One Road" and the Asian Infrastructure Investment Bank. All these together have implications not only for individual Southeast Asian countries but also for regional trading architecture. To aid in understanding the beginnings, development, and potential of these grand plans, this collection of 22 essays offers a rich analysis of ASEAN's own economic integration and other related initiatives proliferating in the broader Asia-Pacific region.

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Asia and Policymaking for the Global Economy

foreword by Haruhiko Kuroda. edited by Kemal Dervis, Masahiro Kawai, and Domenico Lombardi

In this collaboration between the Brookings Institution and the Asian Development Bank Institute, eminent international economists examine the increased influence of Asian nations in the governance of global economic affairs, from the changing role of the G-20 to the reform of multilateral organizations such as the International Monetary Fund.

Established in the aftermath of the Asian financial crisis at the ministerial level, the G-20 has served as a high-level platform for discussing economic analyses and policy responses since 1999. During the current global financial crisis, however, the G-20's role moved toward that of a global crisis management committee at the leadership level. The challenge now for the G-20 is to succeed in fostering ongoing and increasing cooperation among its members while being supportive of, rather than trying to replace, more universal institutions.

After analyzing the dynamics of growth in Asia comparatively and historically, the volume appraises the scope for policy coordination among key economies. The contributors analyze financial stability in emerging Asia and then assess the implications of Asia's increasing role within the newly emerging system of global economic governance, focusing especially on reform of the international monetary structure.

Contributors: Dony Alex (ICRIER, New Delhi), Kemal Dervis¸ (Brookings), Hasan Ersel (Sabanci University), Karim Foda (Brookings), Yiping Huang (Peking University), Masahiro Kawai (ADBI), Rajiv Kumar (FICCI, New Delhi), Domenico Lombardi (Oxford University and Brookings), José Antonio Ocampo (Columbia University), Jim O'Neill (Goldman Sachs)

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