The Political Economy of Global Manufacturing, Business and Finance

Foreword
Preface
Praise for The Political Economy of Global Manufacturing, Business and Finance
Contents
Notes on Contributors
Acronyms
List of Figures
List of Tables
Part I The Political Economy of Global Manufacturing, Business and Finance
1 Development Economics and the Political Economy of International Development
1.1 Introduction
1.2 The Underlying Intellectual Framework
1.3 Growth and Development
1.4 Industry, Trade and Development Economics
1.5 Statistics
1.6 Concluding Remarks
References
2 The Future, Development Economics and Global Policy Actions
2.1 Introduction
2.2 Conceptualising Development: Economic Structures, Analytical Methods, and Policy Prescriptions
2.2.1 Concepts of Global Versus International Development
2.2.2 Analytical Praxis and the Framing of Development
2.2.3 Globalisation, Emerging Realities, and Policy Dilemmas of the Social Divide
2.3 Neoliberalism and the Circumstances of Developing Countries
2.3.1 Poverty, Inequalities, and the Human Condition
2.3.2 The Role of the State and Growth Constraints
2.3.3 The Market, ‘Free Trade’, and the Mercantile Society
2.3.4 Washington Consensus
2.4 Rethinking the Development Agenda: Political Economy and Structural Transformation
2.4.1 Theoretical Consensus and Development Challenges
2.4.2 Policy Responses and Development Strategies
2.5 Developing Countries in the Upcoming Decades—Issues for Consideration
2.5.1 Climate Change and Social Sustainability
2.5.2 Issues of Development Financing and Triangular Cooperation
2.5.3 Artificial Intelligence, Innovations, and the World of Work
2.5.4 Pandemics and Public Health
2.5.5 Population, Migration, and Demographic Dividends
2.5.6 Poverty, Human Rights, Social Inclusion, and Renewal of the Social Contract
2.5.7 Regional Integration, Trade, and Globalisation
2.6 Conclusion
Notes
References
3 Gender Equality and Inclusive Growth
3.1 Introduction
3.2 Growth as a Gendered Process
3.3 Harmful Forms of Inclusion
3.4 What Would Gender-Equitable Inclusive Growth Look Like?
3.5 Strategies for Gender-Equitable Recovery from the Covid-19 Pandemic
3.6 Conclusion
References
Part II Manufacturing Industry and International Development
4 The Future of Manufacturing Industry and Its Implications for Developing Countries
4.1 Introduction
4.2 Spread of Global Value Chains (GVCs) or Global Production Networks (GPNs)
4.3 New Technologies
4.4 Green Development
4.5 Conclusions
Notes
References
5 Lights-Out Manufacturing and Foreign Direct Investment Decline: Human Resource-Based Avenues for Technological Diffusion in Developing Countries
5.1 Introduction
5.2 Internationalisation of Production and TNCs
5.3 Rising Automation and Lights-Out Manufacturing
5.4 FDI and Economic Development
5.5 Human Resource-Based Avenues for Technological Diffusion and Catch-Up in Developing Countries
5.5.1 Establishing Public Institutions that Create Positive Externalities
5.5.2 Providing Incentives to the Private Sector to Benefit from Technology Spillovers and Create Positive Externalities
5.6 Concluding Remarks
Notes
References
6 National Cars and Product Champions: Ways Forward for Vietnam’s Automotive Industry?
6.1 Introduction
6.2 Early Development of the Vietnamese Automotive Industry6 in Relation to that of the ASEAN-4
6.3 Impacts of Vietnam’s Trade Liberalisation Under the ASEAN Economic Community
6.4 Product Champions
6.5 National Cars
6.6 Conclusions
Notes
References
7 Manufacturing Development in Bangladesh and Ghana: A Comparative Review of Growth Strategies
7.1 Introduction
7.2 Manufacturing Development in Bangladesh and Ghana: A Brief Survey
7.3 Strategies for Manufacturing Development: Bangladesh and Ghana
7.4 A Brief Analysis
7.5 Concluding Remarks
Notes
References
Part III MNCs and International Development
8 Transnational Corporations and Globalisation: The Development of Development?
8.1 Introduction
8.2 From Transnational to Global Corporations
8.3 TNCs and the Global South
8.4 Global South TNCs: The Development of Development?
8.5 The Unevenness and Inequality of Development
8.6 The State: Developmental, Relatively Autonomous or Executive Committee of the Bourgeoisie
8.7 Industrial Policy: Linkage, Possibilities and a Return to Some Old Thinking
8.8 Conclusions
Notes
References
9 Knowledge Relevance and Emerging Country Multinational’s Knowledge Transfer Advantage
9.1 Introduction
9.2 DMNEs, EMNEs and the Changing ‘Rules of the Game’ for Global Competitiveness
9.3 The Distinctive Nature of EMNE’s Innovative Capabilities
9.3.1 Conceptual Underpinning of EMNE Capabilities
9.3.2 Cost Innovation: The Emblematic EMNE Innovation6
9.4 Knowledge Relevance and EMNE Knowledge Transfer Advantage
9.4.1 Knowledge Relevance
9.5 EMNE’s Knowledge Transfer Advantage in LDCs
9.6 Concluding Remarks
Notes
References
10 Supply Chains and Development: Does Vietnam Have to Worry About the ‘Middle-Income Trap’?
10.1 Introduction
10.2 The Classification of Countries’ Level of Development
10.3 What Are the Theoretical Explanations of the Middle-Income Trap?
10.4 Vietnam: A Success Story—So Far
10.5 Does Vietnam Need to Change Its Developmental Strategy?
10.6 Conclusion
Notes
References
Part IV Finance and International Development
11 Financing Development Through PPPs: What Does This Mean for Inequalities
11.1 Introduction
11.2 Defining PPPs
11.3 Neoliberal Health Reforms in Latin America: An Overview
11.4 The Rise of Private Finance and PPPs in the Health Sector
11.5 Reviewing the Evidence of PPPs in Health
11.6 Higher Cost of PPPs
11.7 PPPS and Health Inequalities
11.8 PPP Governance and Accountability to Service Users
11.9 Health PPPs in Latin America: The Case of Peru
11.10 Conclusions
Note
References
12 Recent Developments with Personal Remittances to Less Developed Countries (LDCs) in the Context of Global Crises
12.1 Introduction
12.2 Stylised Facts About Ghanaian Migrants
12.3 Impact of Remittances on Household and National Development
12.4 Trends in Global Remittances Inflows During the Pandemic
12.5 Sustaining Private Inward Inflows Amid Global Crisis
12.6 Global or Continental Policies on Migration and Remittances
12.7 Conclusion
References
13 Shifting Landscapes in Development Finance: The Cautionary Tale of a New Debt Trap
13.1 Introduction
13.2 A Shifting Development Finance Landscape
13.2.1 Accessing International Capital Markets
13.2.2 China’s Role as a New Lender
13.2.3 The Attractions of New Development Finance
13.3 Sri Lanka: A Cautionary Tale of EME Debt Distress
13.4 Tackling Debt in the New Financing Landscape
13.5 Conclusion
Notes
References
14 Overview and Concluding Remarks
14.1 Introduction
14.2 Manufacturing Development
14.3 Business Development
14.4 Financial Development
14.5 Overall Conclusion
References
Index