Economy & Finance

In the nineteenth century, an ambitious new library and museum for Asian arts, sciences and natural history was established in the City of London, within the corporate headquarters of the East India Company. Funded with taxes from British India and run by the East India Company, this library-museum was located thousands of miles away from the taxpayers who supported it and the land from which it grew. Jessica Ratcliff documents how the growth of science at the Company depended upon its sweeping monopoly privileges and its ability to act as a sovereign state in British India. She explores how 'Company science' became part of the cultural fabric of science in Britain and examines how it fed into Britain's dominance of science production within its empire, as well as Britain's rising preeminence on the scientific world stage. This title is part of the Flip it Open program and may also be available open access. Check our website Cambridge Core for details.

Journey through the world of stochastic finance from learning theory, underlying models, and derivations of financial models (stocks, options, portfolios) to the almost production-ready Python components under cover of stochastic finance. This book will show you the techniques to estimate potential financial outcomes using stochastic processes implemented with Python.The book starts by reviewing financial concepts, such as analyzing different asset types like stocks, options, and portfolios. It then delves into the crux of stochastic finance, providing a glimpse into the probabilistic nature of financial markets. You'll look closely at probability theory, random variables, Monte Carlo simulation, and stochastic processes to cover the prerequisites from the applied perspective. Then explore random walks and Brownian motion, essential in understanding financial market dynamics. You'll get a glimpse of two vital modelling tools used throughout the book - stochastic calculus and stochastic differential equations (SDE). Advanced topics like modeling jump processes and estimating their parameters by Fourier-transform-based density recovery methods can be intriguing to those interested in full-numerical solutions of probability models. Moving forward, the book covers options, including the famous Black-Scholes model, dissecting it from both risk-neutral probability and PDE perspectives. A chapter at the end also covers the discovery of portfolio theory, beginning with mean-variance analysis and advancing to portfolio simulation and the efficient frontier.

This book on privatization in Pakistan stands out due to its comprehensive and multifaceted approach towards examining the process, impact, and implications of privatizing state-owned enterprises (SOEs). The book provides an in-depth discussion on privatization in Pakistan which revolves around the historical context, contemporary challenges, and opportunities. It mainly covers the discussion on the rationale behind privatization, evolution of privatization policies, case studies of major privatizations, legal frameworks, and the role of public-private partnerships (PPPs). Along with exploratory analysis, this book also includes the first detailed empirical analysis and case studies to provide evidence-based insights into the performance and efficiency of privatized SOEs. Through exploratory and empirical analysis, and examination of key privatization cases, readers gain valuable insights into the real-world outcomes of privatization efforts in Pakistan. This book will be of interest to scholars of Asian economics, development economics and the future of the Eurasian region.Dr. Ghulam Samad is a Chief of Research Division at the Central Asia Regional Economic Cooperation (CAREC) Institute, ADB. Before joining CAREC Institute, Dr. Samad was a Senior Research Economist at the Pakistan Institute of Development Economics (PIDE), Ministry of Planning, Development and Special Initiatives. Dr. Samad also served as an Economist at the Planning Commission of Pakistan. Dr. Samad holds a Ph.D. in Economics from Colorado State University, USA.Dr. Naseem Faraz is the Deputy Economic Adviser at the Economic Adviser's Wing, Ministry of Finance, Government of Pakistan. Dr. Faraz has also served as Revenue Forecasting Specialist at the Federal Board of Revenue. She has gained a long research experience as a Senior Research Economist at the Pakistan Institute of Development Economics (PIDE), Ministry of Planning, Development, and Special Initiatives. Dr. Faraz hold Ph.D. Economics from Clark University in Massachusetts, USA, with prestigious Fulbright Scholarship, MPhil, and MSc in Economics from Quaid-i-Azam University, Islamabad.

In a world of unprecedented challenges and opportunities, Fintech stands as a pivotal force, at the crossroads of technology, finance, and sustainability. This book invites readers to the forefront of a revolutionary convergence, where economic growth and environmental stewardship align. Whether the reader is a decision-maker, innovator, entrepreneur, or investor within the Fintech industry, this is a guide to a future where finance and technology serve our planet.Authored by experts in GIS, AI, and remote sensing, who are also seasoned entrepreneurs, this unique work offers both theory and practical guidance, discovers sources often overlooked in ESG analytics, dives into specific, not general, KPIs for industry professionals, and navigates global regulations and frameworks with ease.Real-world case studies unveil the value of applied methods, supported by insights from leading practitioners, explore the latest developments in AI and machine learning, and uncover a step-by-step data science analysis framework.

Nearly one-third of US workers must obtain a license from a government agency to perform their jobs legally. This impacts employees across all areas, including lawyers, doctors, and accountants, as well as florists, hairdressers, physical therapists, and plumbers. The justification for occupational licensing is that potential consumers allegedly lack the information and knowledge to judge the competence of a service provider. This necessitates a licensing system built to ensure that customers are served by people who have received adequate training and certification in their profession.While there are recognizable benefits of occupational licensing, the training and certification requirements create barriers to entry for employees or those entering the profession. These barriers can limit competition, raise service costs, and restrict consumer access to essential services. Recent empirical work suggests that consumers have incurred these costs without being adequately protected from incompetent or unscrupulous service providers. This book addresses this situation head on.In light of occupational licensing's shortcomings, the authors of this book propose and analyze constructive reforms, assessing their effects on key professions such as law, medicine, and finance. Chapters identify the significant costs of current policies and  they recommend practical reforms that rely more on market forces. The resulting book provides new ways to reduce licensing costs without compromising service quality.Clifford Winston is a senior fellow in the economic studies program at the Brookings Institution.

This Palgrave Pivot book analyses the current state of economic and financial relations between China and the European Union. It illustrates the 'de-risking' strategy that informs much of financial policy between China and the EU and argues that this differs from the policy of 'decoupling' that characterizes the US approach towards China. Exploring how the EU positions itself in the context of a trade and tech race between the US and China, the book sketches out a range of geopolitical challenges for Europe as it navigates current and future scenarios in global economic cooperation and competition. It discusses the concept of 'strategic autonomy' for the EU and explores barriers to achieving this as well as options for re-shaping relations with China. The book provides an excellent overview for researchers and policy-makers of Sino-EU economic relations today and sets them firmly in the contexts of the post-pandemic world with new global value chains, rapid technological development, and evolving environmental challenges.René W.H. van der Linden is lecturer & researcher at the International Business program of The Hague University of Applied Sciences in the Netherlands. Together with Piotr ¿asak, he published The Financial Implications of China's Belt and Road Initiative in 2019 and Financial Interdependence, Digitalization and Technological Rivalries in 2023. Piotr ¿asak is an Associate Professor at the Jagiellonian University in Krakow, Poland. His research focuses on topics related to international financial markets development, including financial market regulation and supervision, mechanisms of financial and currency crises, digitalization of the financial sector, and shadow banking system development (especially in China).

This open access book examines the formation and sustainability of private credit networks in past societies, gathering a global range of case studies from Europe and the Americas. The book represents a fi rst attempt to coordinate the work of different scholars working on credit networks and aims to explore the possibilities offered by social network analysis for the study of past fi nancial markets and networks.Each contribution offers new perspectives for the comprehension of past fi nancial networks, with a broad chronological and geographical scope. The chapters are arranged thematically and study both rural and urban networks, each employing a network perspective to facilitate an increased understanding of the relational dynamics of preindustrial credit transactions. This book models the various ways that SNA can be utilized by economic and fi nancial historians, as well as discusses its limitations and ways in which it can be combined with qualitative archival research. The book is of interest to a broad audience of scholars in the fi elds of economic, fi nancial and social history.

Wars and the need to fund them were the historic reason for banks to create excessive amounts of fiat money. This book explains how banks seized the wealth of society's most vulnerable members to create fiat money. During peacetimes, banks primarily lent to the government depriving the private sector of capital and resources. The unimpeded bank credit offered the government a convenient source for unlimited borrowing and spending. US banks also learned to offer fiat dollars to foreigners seizing the wealth of foreign dollar users. The peremptory confiscation of foreign dollar holdings by the US is poisoning the trust in the dollar and reestablishing gold as a reserve currency.

Drawing back on the ever-evolving stakeholder management theory, this book responds to calls for more empirical research into the managerial sense making of the stakeholder concept. The book explores how managers make sense of stakeholder management, especially in complex and challenging business contexts.

This book is a cultural history of post-Wall urban, social, political, and cultural transformations in Berlin.

This book examines the changing roles and functions of the soybean throughout world history and discusses how this reflects the complex processes of agrofood globalization.

The frequency and repetition of economic crises over the last hundred years demands an analysis that allows us to discover the root causes of these situations and the problems they have generated in the world economy. This book investigates these cycles throughout the 20th and the early 21st century.

The primary objective of this book is to highlight the main issues and challenges the Islamic finance industry faces and to offer practical solutions. It classifies the main components of Islamic finance and provides readers with a unique and holistic overview of the subject. The chapters are written by well-renowned experts in the field.

6G-enabled IoT and AI for Smart Healthcare: Challenges, Impact, and Analysis offers the fundamentals, history, reality, and challenges faced in the smart healthcare industry today. It discusses the concepts, tools, and techniques of smart healthcare as well as the analysis used.

This book presents different tools and techniques used for Decision Support Systems (DSS) including decision tree and table, and their modifications, multi-criteria decision analysis techniques, network tools of decision support and various case-based reasoning methods supported by examples and case studies.

The central question of this book is whether and how such state formation did in fact contribute to economic development.

London as Screen Gateway explores how London features within screen narratives and as a location of screen industry activity.

This book focuses on different algorithms and models related to AI, big data, and IoT used for various domains. It enables the reader to have a broader and deep understanding of several perspectives, about the dynamics, challenges, and opportunities regarding sustainable development using artificial intelligence, big data, and IoT.

This book explores young Cambodians' perceptions of their place in today's society and how they interact with the country's arts and culture scene.

This book investigates the history, political economy and spatiality of Chinese railway projects in Africa.

This book is about how to manage innovation, sustainability, and business necessary to make BRI works, and how to handle the issues, problems and crisis that may arise thereof. Participants of BRI projects can take many different roles but ultimately it is team effort and leadership for each project.