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This article proposes that, based on the evolution of international investment law and investment arbitration, umbrella clauses are substantially implicated in the interpretation of Chinese concession loan agreements in Nigeria. So far, the outcome of the oversight functions of the National Assembly of Nigeria indicates that umbrella clauses have not been considered a significant legal issue in the negotiation of these agreements. With the growing use of Chinese concession loan agreements in Nigeria, this article offers a historical analysis that should be a guide to organs of government, policy advisers and others charged with the sourcing and negotiation of concession loans for development projects in Nigeria. The article makes the case that a proper understanding of the evolution of umbrella clauses is germane to the negotiation and interpretation of these agreements, compared to standard immunity clauses that appear to have overtaken in the debate about these loans in Nigeria.
Edited by
Daniel Benoliel, University of Haifa, Israel,Peter K. Yu, Texas A & M University School of Law,Francis Gurry, World Intellectual Property Organization,Keun Lee, Seoul National University
The main purpose of this chapter is to study gender inequality within the inventive activities in three emerging countries – Brazil, India, and Mexico – using the framework of knowledge economics. It aims to determine which factors that influence a growing propensity of women to be inventors help reduce gender inequality in knowledge economies. In addition, the chapter contributes policy proposals that aim at increasing female participation in inventive activities. The key questions for this research are as follows: What are the characteristics and dynamics of female inventive activities in emerging countries with different economic development paths? What factors influence women’s propensity to invent? Based on the results of the econometric model proposed in this chapter, the inventive variables, such as the stock of prior knowledge, the size of inventor teams, the type of patent holder, technological field, and the presence of foreign researchers – positively influence women’s propensity to become inventors in a differentiated manner in each country. These findings validate how some variables could influence the inclusion of a greater number of women in research teams and the deployment of their potential inventive activities. The chapter proposes policies aimed at reducing gender inequality in the knowledge economy.
Chinese nationals working, studying, and living overseas have always been an important issue for Chinese policy-makers, who have adopted a variety of policies to protect, support, attract back, and monitor them. This first section of this chapter provides an overview of the presence of Chinese nationals overseas, where they are mostly located, and the factors that shape their presence. It then analyzes the main regulatory and diplomatic efforts made by the Chinese state to protect them. The policies adopted by the Chinese government to support and manage the Chinese diaspora, as well as lure back those highly educated nationals who are seen as an important source of innovation for the Chinese economy are discussed in the second half of the chapter. This discussion is followed by an analysis of the evolution of China’s military activities aimed at protecting Chinese citizens overseas. Overall, it emerges that the Chinese state has invested significant bureaucratic and diplomatic resources in these activities, preferring to keep a low profile in military terms.
This article examines the role of state-owned firms in economic growth. While some scholars denigrate state firms, most analysts of East Asian development have noted their importance. To date, however, little work has been done on how state firms operate and how they have actually contributed to industrial development and economic growth. Looking closely at postwar Taiwan as a newly industrializing country and the case of Taiwan Machinery Manufacturing Corporation (TMMC), this article argues that state enterprises resolved coordination failures and provided manufacturing capacity to infant industries. Drawing on company archives and state records, I argue that TMMC helped drive growth through the provision of manufacturing machinery, equipment, parts, repairs, and upgrading. By supplying firms with the necessary technology and materials to modernize production and be competitive on the global market, I show how TMMC helped facilitate Taiwan’s economic miracle.
The chapter examines how the size and diversity of the migrant population shaped economic outcomes in western Poland using statistical analysis. It shows that when state institutions were extractive, the composition of the migrant population played no role in shaping economic performance. Once institutions became more inclusive, however, municipalities settled by more regionally diverse populations registered higher incomes and entrepreneurship rates. The chapter then rules out a series of alternative explanations for these findings.
This chapter introduces cases motivating the book and presents a three-step argument about the effects of forced migration on societal cooperation, state capacity, and economic development. It reviews evidence from post-WWII displacement in Poland and West Germany, discusses the applicability of the findings to other cases, and highlights the main contributions of the book.
Each year, millions of people are uprooted from their homes by wars, repression, natural disasters, and climate change. In Uprooted, Volha Charnysh presents a fresh perspective on the developmental consequences of mass displacement, arguing that accommodating the displaced population can strengthen receiving states and benefit local economies. Drawing on extensive research on post-WWII Poland and West Germany, Charnysh shows that the rupture of social ties and increased cultural diversity in affected communities not only decreased social cohesion, but also shored up the demand for state-provided resources, which facilitated the accumulation of state capacity. Over time, areas that received a larger and more diverse influx of migrants achieved higher levels of entrepreneurship, education, and income. With its rich insights and compelling evidence, Uprooted challenges common assumptions about the costs of forced displacement and cultural diversity and proposes a novel mechanism linking wars to state-building.
This paper examines the historical development and contemporary landscape of Islamic financial law in Central Asia. Rooted in Sharia principles such as avoiding riba (usury), gharar (uncertainty), and maysir (gambling), Islamic finance has evolved into a sophisticated framework that promotes equity, transparency, and social welfare. In Central Asia, a predominantly Muslim region shaped by diverse cultural influences, Islamic financial jurisprudence reflects a unique blend of traditional practices and modern regulations. The growth of Islamic finance in this region is driven by increasing awareness, regulatory support, and integration with global markets. Key principles like the prohibition of interest, risk-sharing, and asset-backed financing underpin the operations of Islamic financial institutions.
Case studies from Kazakhstan, Uzbekistan, and Tajikistan illustrate successful implementation strategies. The paper concludes by emphasizing the potential for Islamic finance to drive sustainable economic development in Central Asia and the need for ongoing research, collaboration, and policy support to navigate the complex dynamics of this evolving field.
This chapter addresses the myth that rural regions are unsustainable due to challenges with economies of scale and the perception that rural life must be “subsidized.” While urban life is commonly viewed as dynamic and efficient, rural life is often considered a waste of resources. These views cause skepticism about investing in, and supporting, rural life more robustly. There are several problems with the myth of rural unsustainability. First, it neglects urban–rural interdependence and the fact that cities are subsidized by rural provision of food, energy, fibers, and other natural and processed resources. Second, the myth discounts the decades-long tradition of utilities and common carrier regulation in the United States. Economic regulation, which was more substantial prior to the deregulatory era since the 1980s, was designed to help facilitate geographic convergence, guard against concentration of resources in mega-cities, create a cohesive national economy, and make the distribution of resources and opportunities across landscapes more equitable. The chapter interrogates the concept of economies of scale, explores overlooked urban dependency, and reviews legal history and legislative debates surrounding transportation and telecommunications regulation, such as through the Interstate Commerce Commission, to make the case that rural communities should and can be sustained, and are thus “sustainable.”
As English state capacity grew and the crown faced growing financial constraints at home, colonies became tempting targets. This chapter explores the crown’s attempts to unwind the institutions of contractual imperialism and assert unilateral, direct control over colonies. However, when the crown made these attempts, colonial institutions had taken deep root over decades. The chapter explains why the crown was unable to force its vision of government on the colonies autocratically, and instead pivoted to a negotiated model of governance: Regulatory imperialism.
The pathways to economic development are changing. Environmental sustainability is no longer a choice but a necessity to maintain a competitive edge in the global economy. Just like in nature, where survival hinges on adaptation, this Element shows how nations adjust to -and take advantage of- the new dynamics of structural transformation induced by climate change.First, by analysing the uneven industrial geography of decarbonisation, the inadequate state of climate financing and rise of green protectionism, it demonstrates that the low-carbon economy stands to increase economic disparities between nations, unless action is taken. Then, by examining green industrial policies and their varied success, it explains how governments can still join the green industrialisation race. Finally, it examines how to adapt green industrial policy to different starting points, market sizes, productive structures, state-business relations dynamics, institutional layouts, and ecological contexts. This title is also available as Open Access on Cambridge Core.
This is a comprehensive long-run history of economic and political change in the Iberian Peninsula. Beginning with the development of the old medieval kingdoms, it goes on to explore two countries, Portugal and Spain, which during the early modern period possessed vast empires and played an essential role in the global economic and political developments. It traces how and why both countries began to fall behind during the first stages of industrialization and modern economic growth only to achieve remarkable economic development during the second half of the twentieth century. Written by a team of leading historians, the book sheds new light on all aspects of economic history from population, agriculture, manufacturing and international trade to government, finance and welfare. The book includes extensive new data and will be an essential work of reference for scholars of Portugal and Spain and also of comparative European economic development.
When and how does stakeholder credibility matter in shaping public opinion? We explore this question in a real-world setting: in order to fight its citizens’ financial exclusion—a key barrier to development in Indian Country—American Indian Nation “A” negotiated the first entry of the first bank to its reservation. The bank is owned by American Indian Nation “B.” To the Federal Reserve, the bank branch is a potential proof-of-concept for the capacity of tribe-to-tribe investment to improve capital access in underserved Native communities. The bank’s success ultimately depends on whether Nation A’s citizens use its services; in the months before its opening, all three stakeholders independently attempted to influence public opinion toward the bank. We collaborated to conduct a first-of-its-kind survey of Nation A’s tribal members, finding high baseline buy-in especially given the bank’s nationality, but weak and even counterproductive treatment effects of pro-banking cues provided by Nation A and the Federal Reserve. Our results make clear the practical benefits of theory-building around stakeholder credibility, and the crucial role of individual attitudes in the political economy of development.
Why some groups outperform others in academic and professional achievements? Why some countries’ economies grow faster than others? Why are the fastest-growing economies located in East Asia? What role does Confucian heritage play in helping countries in this region to outperform others economically? How do culture, institutions, and policy interact to influence each other?
Two propositions motivate this book. First, a country’s culture influences its economic performance and, second, its economic performance determines its position in the international pecking order. Economic vitality is imperative for sustaining a country’s leading position in world political economy. This vitality depends critically on its mass culture which is not static but rather evolves in response to changing socioeconomic environment.
This chapter introduces comparative lawyers to the field known as law and development, which in turn examines the uses of law for developmental objectives. The chapter attempts to relate the two fields and indicate the relevance of each to the other. In the course of doing this we also introduce a general theory of law and development that can be used as a bridge between the two. We submit that law and development is itself developing in ways that involve new ideas and the processing of varied experiences; these in themselves are preoccupations of comparative law too.
This Element examines the process of economic development of the last 50 years or so under the neoliberal model in terms of impacts on growth, inflation, income and wealth distribution and structural change. The analysis includes a historical perspective from the 19th century to the present and combines economic analysis with a political economy approach. This title is also available as Open Access on Cambridge Core.
Our growth model explores the complex relationship between income, obesity, and changes in exercise-related behavior. Combining Becker’s theory of time allocation (The Economic Journal 75(299), 493–517, 1965) with Veblen’s theory of conspicuous leisure (The Theory of the Leisure Class, 1st ed. New York: Macmillan, 1899), we determine conditions for dynamic and static obesity Kuznets curves. Considering food consumption and exercise choices, we show that dynamic and static Kuznets curves result from the rising opportunity cost of exercise and peer influence, both increasing with income. Focusing on calorie expenditure, we investigate the rise and slowdown in obesity prevalence in the USA and the correlation between obesity and income per worker. Our numerical simulations indicate that, as the economy grows, exercise choices slow down the rise in obesity prevalence but do not generate a dynamic Kuznets curve in the USA. By contrast, they generate a static Kuznets curve for a population cross section. We discuss policy implications of our findings.
In the early post-Second World War period, Migros of Switzerland was the first European retail business to adopt the American supermarket model. Its success, however, has not only been a matter of technological and logistical innovation. Migros’ founder, Gottlieb Duttweiler, was convinced that consumer education was part and parcel of a new style of selling consumption. This conviction was at the basis of a strategy entering foreign markets and of exporting the Migros model abroad. Similar to post-World War II economic rehabilitation programs, Duttweiler pursued an indigenous modernization agenda, based on a new principle of “rational consumption”—he did not hesitate to label this as a genuine version of entrepreneurial development aid. Against the backdrop of the establishment of Migros’ activities in Turkey, this article discusses the participation of entrepreneurs in the international development policies after the Second World War. The history of Migros Türk sheds light not only on the entrepreneurial approach to modernization policy, which was often different to that adopted in government programs, but also on how this influenced critical consumerism inside and outside Switzerland over the long term.
South Korea has become the only country to make the transition from a developing to a developed country after the Second World War; however, its development process has been a tortuous one. This book first explains how Korea failed earlier in history to become a colony and how its economy changed during the colonial period. The book then describes the provision of the conditions for future growth in 1945–1960 and explains the launching of the high economic growth in the 1960s. The book next discusses the development process after the high economic growth began until the 1997 crisis, examining the three conditions for sustaining growth: macroeconomic management, structural transformation, and social conflict management. After discussing the 1997 crisis and the ensuing reform, the book explains how economic development proceeded subsequently until today, again by examining those three conditions for sustaining growth. Finally, it briefly discusses questions for the future.