Shifting Equilibria: A New Framework Assessing Changing Power Dynamics Between the Global North and Global South

Mona Pearl (), Bruno S. Sergi and Richard J. Muszynski
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Mona Pearl: Department of Finance, Accounting and Management, Sidhu School of Business, Wilkes University, Wilkes-Barre, PA 18766, USA
Bruno S. Sergi: Harvard Center for International Development, Harvard University, Cambridge, MA 02138, USA
Richard J. Muszynski: Department of Finance, Accounting and Management, Sidhu School of Business, Wilkes University, Wilkes-Barre, PA 18766, USA

World, 2025, vol. 6, issue 1, 1-20

Abstract: The disparity between the Global South and the Global North has gained prominence in classifying countries according to economic, social, and governance characteristics rather than historical links. Historically, the Global North has long been regarded as the dominant group of nations, far outperforming Global South countries; however, several Global South nations now surpass and outperform the Global North nations in multiple measures. Traditional measures like GDP per capita often overlook the intricate leadership dynamics essential for understanding developments in both regions. This study presents a novel approach to evaluating global leadership transitions, including economic performance, social mobility, and governance structures, by expanding on the Global South Leadership (GSL) Index. By averaging scores of 18 indices for 192 countries, scatter plots are created to identify relationships and trends between Global North and South countries and among the regions within. This study extrapolates why some Global South countries are overperforming and others are underperforming, and the ones that have overcome obstacles and become role models for other Global South, as well as for Global North countries.

Keywords: Global South; Global North; Global South Leadership (GSL) Index; emerging economies; emerging markets; BRICS; BRICS-Plus (search for similar items in EconPapers)
JEL-codes: G15 G17 G18 L21 L22 L25 L26 Q42 Q43 Q47 Q48 R51 R52 R58 (search for similar items in EconPapers)
Date: 2025
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