Franklin

Israel and the world economy : the power of globalization / Assaf Razin.

Author/Creator:
Razin, Assaf author.
Publication:
Cambridge, Massachusetts : The MIT Press, [2018]
Format/Description:
Book
xx, 208 pages ; 24 cm
Status/Location:
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Subjects:
Global Financial Crisis (2008-2009).
Israel -- Economic conditions -- 20th century.
Israel -- Economic conditions -- 21st century.
Globalization -- Economic aspects -- Israel.
Israel -- Emigration and immigration -- Economic aspects.
Global Financial Crisis, 2008-2009.
Economic history.
Emigration and immigration -- Economic aspects.
Globalization -- Economic aspects.
Israel.
Summary:
This book provides rigorous analysis of some of the major episodes during Israel's economic transition and spells out, empirically, how globalization played a crucial role in advancing Israel's economic progress. Economists and policy makers can gain insights as to how a globalized economy can take advantage of international trade, labor mobility, its international financial links, while at the same time navigate shocks like the 2008 global financial crisis. It discusses the collapse of the Soviet Union and the massive wave of high skill immigration to Israel which followed; the Great Moderation in inflation and employment fluctuations in the advanced economies, and the convergence of Israel's inflation to the low world inflation rates; the 2008 Global Financial Crisis and the surprising robust performance of the Israeli economy; the rise of the Asian markets, recently opened up to Israel's exports, which became abundant source of outward foreign direct investments; the global information technology surge and its spillovers to the emerging high-tech sector in Israel; brain drain facilitated by Israel's higher education system; and the economic implications of the Palestinian-Israeli crisis. In addition to analyzing the past and current state of Israel, the book compares developments within the Israeli economy to developed and emerging-market economies in similar circumstances. It combines economic theory with empirical evidence, and includes a review of the literature covering earlier stages of Israel's economic development.
Contents:
Historical background
Swell and retreat of high inflation
Immigration wave : Soviet-Jew exodus
Understanding migration and income inequality
Globalization, disinflation, high tech, and foreign direct investment
The "great moderation" and Israel's disinflation
The 2008 global crisis and Israel-economy resilience
Israel high technology and globalized finance
Trending developments
Israel and East Asia
Brain drain from Israel and skill based immigration policy
High fertility and low skill acquisition
Costs of occupation
Early literature
Israel surveyed
Epilogue.
Notes:
Includes bibliographical references and index.
ISBN:
9780262037341
0262037343
OCLC:
989811274