The Economics of Developing and Emerging Markets

Explains the rising importance of emerging markets to give a better understanding of current development challenges.

Analyses the economics of development from a global perspective with a wealth of illustrations. Throughout the book, there is a strong emphasis on data analysis and connecting theory and data. Suitable both for second and third-year undergraduates in economics or business, and graduate students studying other social sciences.This textbook presents an innovative new perspective on the economics of development, including insights from a broad range of disciplines. It starts with the current state of affairs, a discussion of data availability, reliability, and analysis, and an historic overview of the deep influence of fundamental factors on human prosperity. Next, it focuses on the role of human interaction in terms of trade, capital, and knowledge flows, as well as the associated implications for institutions, contracts, and finance. The book also highlights differences in the development paths of emerging countries in order to provide a better understanding of the concepts of development and the Millennium Development Goals. Insights from other disciplines are used help to understand human development with regard to other issues, such as inequalities, health, demography, education, and poverty. The book concludes by emphasizing the importance of connections, location, and human interaction in determining future prosperity.