Israel and the World Economy: The Power of Globalization (The\mit Press Ser.)

Synopsis

A rigorous analysis of the role played by globalization in key episodes in the development of the Israeli economy, from hyperinflation crisis to high-tech surge.Anti-globalization sentiments are rising, especially in Europe and the United States, with the increasingly integrated global economy blamed for domestic economic distress. In this book, Assaf Razin argues that Israel offers a counterexample to this view, showing decisively positive economic effects of globalized finance, trade, and immigration. He offers a rigorous analysis of the role played by globalization in key episodes in the remarkable development of the Israeli economy. His findings may hold lessons for productivity-challenged advanced economies as well as for other countries such as China currently making the transition to fully developed economies.Razin examines the wave of immigration after the collapse of the Soviet Union, as highly skilled Soviet Jews migrated to Israel and the effect on income inequality; the Great Moderation of inflation and employment in advanced economies, as Israel's inflation converged in parallel with low world inflation rates; Israel's robustness in the face of the deflation shocks of the 2008 financial crisis; and technology transmission through foreign direct investment, reinforcing Israel's high-tech sector surge. He also considers such ongoing challenges as high fertility and low labor market participation and the economic costs of the Israeli-Palestinian conflict.

Copyright:

2017

Book Details

Book Quality:

Publisher Quality

ISBN-13:

9780262344241

Related ISBNs:

9780262037341

Publisher:

MIT Press

Date of Addition:

07/03/20

Copyrighted By:

The MIT Press

Adult content:

No

Language:

English

Has Image Descriptions:

No

Categories:

Nonfiction, Business and Finance, Politics and Government

Reading Age:

18 and up

Submitted By:

Bookshare Staff

Usage Restrictions:

This is a copyrighted book.