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Economics and Finance

Economics and Finance

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An Indian Woman's American Journey

Padma Desai grew up in the 1930s in the provincial world of Surat, India, where she had a sheltered and strict upbringing in a traditional Gujarati Anavil Brahmin family. Her academic brilliance won her a scholarship to Bombay University, where the first heady taste of freedom in the big city led to tragic consequences—seduction by a fellow student whom she was then compelled to marry. In a failed attempt to end this disastrous first marriage, she converted to Christianity.

Solutions to odd-numbered prep questions, review questions, and exercises in an undergraduate econometric textbook designed to teach students regression analysis on one semester.

What Reduces Offending?

Economists who bring the tools of economic analysis to bear on the study of crime and crime prevention contribute to current debates a normative framework and sophisticated quantitative methods for evaluating policy, the idea of criminal behavior as rational choice, and the connection of individual choices to aggregate outcomes. The contributors to this volume draw on all three of these approaches in their investigations and discuss the policy implications of their findings.

A Self-Contained Approach

This unique introduction to econometrics provides undergraduate students with a command of regression analysis in one semester, enabling them to grasp the empirical literature and undertake serious quantitative projects of their own. It does not assume any previous exposure to probability and statistics but does discuss the concepts in these areas that are essential for econometrics. The bulk of the textbook is devoted to regression analysis, from simple to advanced topics.

Voice of Reform in China

For more than thirty years, Wu Jinglian has been widely regarded as China’s most celebrated and influential economist. In the late 1970s, Wu (b. 1930) was one of a small group of economic thinkers who broke with Marxist concepts and learned the principles of a market economy. Since then he has been at the center of economic reform in China, moving seamlessly as an “insider outsider” between academic and policy roles. In recent years, Wu has emerged as a prominent public intellectual fighting not just for market reform but also for a democratic society backed by the rule of law.

Recursive Partnerships and Infrastructures

In Monitoring Movements in Development Aid, Casper Jensen and Brit Winthereik consider the processes, social practices, and infrastructures that are emerging to monitor development aid, discussing both empirical phenomena and their methodological and analytical challenges. Jensen and Winthereik focus on efforts by aid organizations to make better use of information technology; they analyze a range of development aid information infrastructures created to increase accountability and effectiveness.

This rigorous and comprehensive textbook develops a basic small open economy model and shows how it can be extended to answer many important macroeconomic questions that arise in emerging markets and developing economies, particularly those regarding monetary, fiscal, and exchange rate issues. Eschewing the complex calibrated models on which the field of international finance increasingly relies, the book teaches the reader how to think in terms of simple models and grasp the fundamentals of open economy macroeconomics.

Financial Markets and Elections in Emerging Countries

Politics matter for financial markets and financial markets matter for politics, and nowhere is this relationship more apparent than in emerging markets. In Banking on Democracy, Javier Santiso investigates the links between politics and finance in countries that have recently experienced both economic and democratic transitions. He focuses on elections, investigating whether there is a “democratic premium”—whether financial markets and investors tend to react positively to elections in emerging markets.

Issues, Challenges, and Case Studies

In recent years central bankers have placed new emphasis on communication with financial markets and the general public. They have done this not only through the traditional channel of monetary policy pronouncements but also by increasing the quantity of information they make public. Yet as central banks strive to provide more and clearer information about the outlook for the economy, they must balance their capacity to steer economic expectations with their natural caution about committing to future monetary policy paths.

Many developing countries find it difficult to raise the revenue required to provide such basic public services as education, health care, and infrastructure. Complicating the policy challenges of taxation in developing countries are issues that most developed countries do not face, including widespread corruption, tax evasion and tax avoidance, and ineffective political structures. In this volume, experts investigate crucial challenges confronted by developing countries in raising revenue.

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