{"product_id":"israel-and-the-world-economy-isbn-9780262553315","title":"Israel and the World Economy","description":"\u003cb\u003eA rigorous analysis of the role played by globalization in key episodes in the development of the Israeli economy, from hyperinflation crisis to high-tech surge.\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003eAnti-globalization sentiments are rising, especially in Europe and the United States, with the increasingly integrated global economy blamed for domestic economic distress. In this book, Assaf Razin argues that Israel offers a counterexample to this view, showing decisively positive economic effects of globalized finance, trade, and immigration. He offers a rigorous analysis of the role played by globalization in key episodes in the remarkable development of the Israeli economy. His findings may hold lessons for productivity-challenged advanced economies as well as for other countries such as China currently making the transition to fully developed economies.\u003cbr\u003e\u003cbr\u003eRazin examines the wave of immigration after the collapse of the Soviet Union, as highly skilled Soviet Jews migrated to Israel and the effect on income inequality; the Great Moderation of inflation and employment in advanced economies, as Israel's inflation converged in parallel with low world inflation rates; Israel's robustness in the face of the deflation shocks of the 2008 financial crisis; and technology transmission through foreign direct investment, reinforcing Israel's high-tech sector surge. He also considers such ongoing challenges as high fertility and low labor market participation and the economic costs of the Israeli-Palestinian conflict.Preface ix\u003cbr\u003ePrologue xv\u003cbr\u003eI Historical Background 1\u003cbr\u003e1 Swell and Retreat of High Inflation 5\u003cbr\u003e2 Immigration Wave: Soviet Jew Exodus 21\u003cbr\u003e3 Understanding Migration and Income Inequality 29\u003cbr\u003eII Globalization, Disinflation, High Tech, and Foreign Direct Investment 51\u003cbr\u003e4 The Great Moderation and Israel's Disinflation 55\u003cbr\u003e5 The 2008 Global Crisis and Israel-Economy Resilience 69\u003cbr\u003e6 Israel's High Technology and Globalized Finance 99\u003cbr\u003eIII Trending Developments 119\u003cbr\u003e7 Israel and East Asia 123\u003cbr\u003e8 Brain Drain from Israel and Skill-Biased Global Immigration Policy 131\u003cbr\u003e9 High Fertility and Anemic Skill Acquisition 151\u003cbr\u003e10 Rising Cost of Occupation 159\u003cbr\u003eIV Early Literature 165\u003cbr\u003e11 Israel Surveyed 169\u003cbr\u003eEpilogue 173\u003cbr\u003eNotes 177\u003cbr\u003eReferences 191\u003cbr\u003eIndex 203Assaf Razin is a former Professor at Cornell University, Emeritus Professor at the Eitan Berglas School of Economics at Tel Aviv University, and Research Fellow at the NBER, CEPR, and CESifo. He is the author of \u003ci\u003eUnderstanding Global Crises: An Emerging Paradigm\u003c\/i\u003e and a coauthor of, among other books, \u003ci\u003eThe Decline of the Welfare State: Demography and Globalization\u003c\/i\u003e and \u003ci\u003eMigration and the Welfare State: Political-Economy Policy Formation\u003c\/i\u003e, all published by the MIT Press. He is the recipient of the 2017 EMET Prize in Economics.","brand":"The MIT Press","offers":[{"title":"Default Title","offer_id":46300406350053,"sku":"NP9780262553315","price":40.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780262553315.jpg?v=1767730225","url":"https:\/\/k12savings.com\/products\/israel-and-the-world-economy-isbn-9780262553315","provider":"K12savings","version":"1.0","type":"link"}