Structural Change and Japanese Economic History: Will the 21st Century Be Different?

2010 ◽  
pp. 319-322
Author(s):  
GARY R. SAXONHOUSE
Keyword(s):  
Structural Change ◽  
21St Century ◽  
Economic History

Cryptocurrencies, Evolution of Means of Payments and Validity of Monetary Principles

2021 ◽  
Vol 54 (3) ◽  
pp. 469-498
Author(s):  
Edoardo Beretta
Keyword(s):  
21St Century ◽  
Economic History ◽  
Analytical Approach ◽  
Statistical Evidence ◽  
Blockchain Technology ◽  
Financial Bubble ◽  
Excess Liquidity ◽  
Real Value ◽  
Evolving Context

The paper explores the role, evolution and ruling principles of the concept of “money” in the 21st Century. In this continuously evolving context, cryptocurrencies and Blockchain technology are widely considered the most relevant monetary innovations of the last decades. By means of a macro-founded logical-analytical approach combined with statistical evidence, the paper provides arguments: 1. dismissing the “innovation myth” behind cryptocurrencies because of de facto representing a comeback of the private issue of means of payments and, more problematically, seigniorage at its best; 2. confirming that crypto-tokens do not comply with basic, still ruling monetary principles; 3. suggesting that excess liquidity is already invested in crypto-markets (which are themselves “inflationary”, namely not backed by real value (i.e. GDP). The concrete risk is, once again in economic history, represented by facing a financial bubble.

Introduction: The Art of Engineering Prosperity in Unlikely Places

2019 ◽  
pp. 1-19
Author(s):  
Justin Yifu Lin ◽  
Célestin Monga
Keyword(s):  
Eighteenth Century ◽  
Structural Change ◽  
Comparative Advantage ◽  
Low Income ◽  
Economic History ◽  
Poverty Reduction ◽  
Technological Development ◽  
Methodological Approach ◽  
Policy Practice ◽  
Globalized World

This chapter provides a methodological approach that draws lessons and insights from economic history and theory and uses empirics from economic analysis and policy practice. It starts with an observation of the increasingly globalized world economy in which technological development allows the use of factors of production in locations that maximize returns and utility, and countries gain mutually by trading with each other if their strategies focus on revealed and latent comparative advantage. By following carefully selected lead countries, latecomers can emulate the leader–follower, flying-geese pattern that has well served economies since the eighteenth century. The prospects for sustained and inclusive growth are even greater for low-income economies that enjoy the benefits of backwardness. The chapter advocates implementing viable strategies to capture new opportunities for industrialization, which can enable low-income economies to set forth on a dynamic path of structural change and lead to poverty reduction and prosperity.

The Brazilian Economy in the 20th Century

2019 ◽  
Author(s):  
Herbert S. Klein ◽  
Francisco Vidal Luna
Keyword(s):  
20Th Century ◽  
21St Century ◽  
Economic History ◽  
Service Sector ◽  
Industrial Sector ◽  
Economic Transformation ◽  
Asian Immigrants ◽  
Social Changes ◽  
Brazilian Society ◽  
The World

The 20th century represents a crucial period in Brazil’s economic history, when an agrarian, rural-dominated society became an urban, industrialized country with a complex financial sector and a large service sector. This economic transformation fueled by coffee exports led to profound demographic and social changes as millions of European and Asian immigrants were integrated into Brazilian society, followed by a massive shift of native-born migrants from the northeast to the dynamic southeast of Brazil, particularly for the state of São Paulo, which became the richest, most industrialized, and most populous state of the nation. The second half of the 20th century saw the creation of a modern industrial sector and the modernization of national agriculture, which in the 21st century made Brazil one of the most important producers of grain and animal protein in the world.

As You Like It or Much Ado about Nothing?

2016 ◽  
pp. 237-264
Author(s):  
Koenraad De Ceuninck ◽  
Kristof Steyvers ◽  
Tony Valcke
Keyword(s):  
Structural Change ◽  
Local Government ◽  
21St Century ◽  
Structural Reform ◽  
Ongoing Debate ◽  
Reform Agenda ◽  
Much Ado About Nothing ◽  
As You Like It

This chapter scrutinizes the ongoing debate on structural reform in local government in the Flemish Region of Belgium at the turn and the first decades of the 21st century. As in many European polities, discussions on the territorial and functional arrangements of the level deemed closest to the citizen have occupied a protracted place on the reform agenda. Likewise, given their often controversial and conflictual nature all but a part of these reformist ambitions have eventually been adopted and implemented. Actual structural change often only crystalizes as the residue of a heated reform base once the damp of the discussion evaporates.

The Boom–Bust Cycle of Global Copper Prices, Structural Change, and Industrial Development in Zambia

2020 ◽  
pp. 374-396
Author(s):  
Robert Liebenthal ◽  
Caesar Cheelo
Keyword(s):  
Structural Change ◽  
Economic History ◽  
Sovereign Debt ◽  
Industrial Development ◽  
Mining Industry ◽  
Copper Mining ◽  
Consumption Expenditure ◽  
Economic Management ◽  
Fiscal Management ◽  
Productive Assets

This chapter is about understanding the cycle of global copper price booms and busts over Zambia’s economic history. We explore how the mining industry has been managed, and wider economic management during boom periods. We find that successive Zambian governments did not use copper revenues to accumulate productive assets, focusing instead on financing consumption subsidies and sustaining inefficient state-owned companies. In recent times, Zambia has accumulated worryingly high levels of sovereign debt with virtually no prospect of official debt relief. Nonetheless, a reasonable chance exists of avoiding debt distress, provided the authorities consistently pursue strong fiscal management and discipline. Ultimately, Zambia’s ability to ring-fence and prudently use the mineral revenues from copper mining in building productive capacities remains elusive. Instead recurrent consumption expenditure demands dominate the fiscal landscape and the agenda of the fiscal authorities.

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