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Encyclopedia of the Global Economy   

Encyclopedia of the Global Economy

A Guide for Students and Researchers

David E. O’Connor

This Indian edition published by

Academic Foundation, New Delhi

under arrangement with

Greenwood Publishing Group, Inc,

Westport, CT.

Hard Bound Book (Set of Two Volumes) (7¼" x 10")
Pages : (476 (vol.1) + 403 (vol.2))
2006  Edition   :   ISBN - 81-7188-547-0
Price : Rs. 2995.00 (For Sale in South Asia Only)
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There is no doubt that we live in a truly global economy—Japanese automobiles are manufactured in American plants and exported to Europe; McDonald’s Golden Arches beckon to customers in over 100 countries; skyrocketing oil prices have a ripple effect on the cost of thousands of goods worldwide. Encyclopedia of the Global Economy illuminates these issues and many more, covering a wide spectrum of concepts, people, and organizations related to economic globalization from its origins in the quest for exotic spices in the 16th century to the debates and controversies that reflect it today.

Volume 1 features over 150 entries, organized alphabetically, with definitions and descriptions, examples, photographic illustrations, references, and exhibits featuring the most current data. Topics include:

• international trade • corporate social responsibility • foreign investment
• child labor • transnational corporations • sustainable consumption
• economic and human development and the digital divide • offshore outsourcing

This volume also includes profiles of prominent economists, business leaders, and policymakers as well as a timeline of major events and a glossary of key concepts and institutions.

Volume 2 includes a wide array of primary documents, a "data bank" of world statistics on demographic and economic trends, and print and Internet resources for further research. Each document is introduced with an explanation of its context and linked to related articles in Volume 1. Examples include the text of the North American Free Trade Agreement (NAFTA), reports on environmental degradation and poverty reduction from the United Nations, and dozens of tables and graphs reflecting international investment, business activity, productivity, labor, and socioeconomic conditions around the world.

Cross-referenced throughout, featuring a comprehensive index, and cutting across such disciplines as politics, sociology, and business, this unique reference will be an indispensable resource for students, teachers, businesspeople, and general readers interested in the dynamics of the global economy and its profound impact on nations, businesses, communities, and individuals.

“ Even in my introductory classes I want students to see and analyze current data and to read original documents. Encyclopedia of the Global Economy pulls all of this material together, and by linking clear, concise explanations of topics to data, web resources, and original sources it's an ideal tool for students doing research papers.”

—Rhona Free
Professor of Economics
Eastern Connecticut State University 


DAVID E. O’CONNOR is a nationally recognized economics teacher at the Edwin O. Smith High School in Storrs, Connecticut. He has earned many state and national honors in the fields of economic education and social studies, including the Connecticut Council on Economic Education’s Distinguished Service Award, the Connecticut Council for the Social Studies Honor and Service awards, and the University of Connecticut’s Excellence in Teaching Alumni Award. He has served as a College Board consultant in economics, president of the Connecticut Council for the Social Studies, and economics instructor at the Taft Summer Institute for Teachers. He has conducted over 100 teacher workshops at state and national conferences. He has also worked in assessment with the Educational Testing Service, Psychological Corporation/Harcourt Educational Measurement, and the American Institutes for Research.

Mr. O’Connor has authored or co-authored eighteen books or teacher’s manuals in the fields of economics, ethnic history, and world history. His most recent books include The Basics of Economics (Greenwood, 2004), Demystifying the Global Economy (Greenwood, 2002), and Basic Economic Principles: A Guide for Students (Greenwood, 2000).



List Of Entries

Guide To Related Topics

Figures And Tables

Author’s Note



Common Abbreviations

Timeline Of Key Events In The Global Economy, 1776–2009


Glossary Of Selected Terms

Key Global Economy Web Sites

Selected Bibliography



List of Entries


Absolute Advantage

Advanced Economies


African Development Bank Group

Andean Community

Annan, Kofi

Asian Development Bank

Asia-Pacific Economic Cooperation

Association of Southeast Asian Nations

Balance of Payments

Balance of Trade

Bank for International Settlements

Basic Economic Questions

Bhagwati, Jagdish

Brain Drain

Bretton Woods System

Business Cycle

Capital Flight

Capital Formation


Capital Markets

Caribbean Community


Central American Common Market

Civil Society Organizations

Command Economy

Commercial Revolution


Comparative Advantage


Consumers International

Corporate Social Responsibility



Democratic Socialism

Deng Xiaoping

Developing Countries

Development Economics

Development Plan

Digital Divide


Economic Community of West African States

Economic Freedom

Economic Growth

Economic Sectors

Economic System


Emerging Market Economies

Energy Resources


Environmental Degradation

European Bank for Reconstruction and Development

European Free Trade Association

European Union

Exchange Rates

Export Processing Zone


External Debt

Factors of Production

Financial Contagion Foreign Aid

Foreign Direct Investment

Foreign Exchange Market

Free Trade Area of the Americas

General Agreement on Tariffs and Trade

Global Culture

Global Economy

Global Financial Architecture


Good Governance

Gross Domestic Product

Gross National Income

Group of Eight

Group of Seventy-Seven

Group of Twenty

Hayek, Friedrich A.

Heavily Indebted Poor Countries
(HIPC) Initiative

Human Development

Import Quotas


Industrial Revolution


Informal Economy

Information and Communications Technologies

Inter-American Development Bank Group

International Bank for Reconstruction
and Development

International Centre for Settlement of Investment Disputes

International Commodity Agreements

International Co-operative Alliance

International Development Association

International Finance Corporation

International Financial Institutions

International Investment Agreements

International Labor Organization

International Monetary Fund

International Trade

Joseph, Keith S.

Keynes, John Maynard

Krugman, Paul R.

Kuznets, Simon

Least Developed Countries

Lewis, William A.


Malthus, Thomas R.


Market Economy

Marx, Karl H.



Microfinance Institutions

Millennium Development Goals

Moore, Mike

Multilateral Environmental Agreements

Multilateral Investment Guarantee Agency

Mun, Thomas

Myrdal, Karl G.

Newly Industrialized Economies

New Protectionism

Non-Governmental Organizations

North American Free Trade Agreement

Nyerere, Julius K.

Offshore Financial Centers


Organization for Economic Cooperation and Development

Organization of Petroleum Exporting Countries

Peace Corps of the United States

Pigou, Arthur C.




Production Sharing


Purchasing Power Parity

Quality of Life

Race to the Bottom

Regional Development Banks

Regional Trade Agreements

Ricardo, David

Rostow, Walt W.

Sachs, Jeffrey D.

Schumacher, Ernst F.

Schumpeter, Joseph A.

Sen, Amartya K.

Smith, Adam

Solow, Robert M.

Soto, Hernando de

South-South Cooperation

Stiglitz, Joseph E.

Supply Chains

Sustainable Consumption

Sustainable Economic Development


Terms of Trade

Third World Socialism

Trade-Related Aspects of Intellectual Property

Transition Countries

Transnational Corporations

United Nations System

Unsustainable Debt

Voluntary Quotas

Ward, Barbara M.

Wolfensohn, James D.

World Bank Group

World Economic Forum

World Health Organization

World Intellectual Property Organization

World Trade Organization

Yunus, Muhammad




Author’s Note



Common Abbreviations

Timeline of Key Events in the Global Economy, 1776–2009

1. Primary Documents

A Note about the Documents

List of Primary Documents


Poverty Reduction

Economic Growth and Sustainable Development

International Trade

Regional Integration in the Global Trading System

Foreign Direct Investment and Corporate Social Responsibility

Global Labor Markets and Labor Rights

The Environment and Sustainable Development

Consumer Rights and Sustainable Consumption

Quality of Life and Economic Justice

2. Statistical Tables

A Note about the Statistical Tables

List of Statistical Tables


Global Output

Advanced Economies

Least Developed Countries (LDCs)

Income Distribution, Poverty, and External Debt

Quality of Life and Social Indicators

Transnational Corporations and Foreign Direct Investment

International Trade

Regional Development Banks

Global Energy Consumption and Production

Global Competitiveness and Freedom


Glossary of Selected Terms

Key Global Economy Web Sites

Selected Bibliography


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