The Effect of 2008 Financial Crisis on the Distribution of Economic Power

Manmohan Agarwal and Amrita Brahmo

International Studies, 2020, vol. 57, issue 2, 87-110

Abstract: There has been considerable debate over whether the USA is losing its stronghold over the world economy and its power declining, giving way to new leadership from the emerging economies (EEs) like China. This article uses the notion of power based on the resources available to a state. It uses a number of measures to measure the resources available to a state and so assess economic power. It finds that there has been a slight decline in the importance of the developed countries and an increase in that of the developing countries (DCs). However, there is a slight decline in the power of the USA. The increase in the importance of developing countries is mainly on account of China. But the changes do not mean that developing countries can get the changes they desire. There is more of a stalemate.

Keywords: Developing economies; economic size; finance; GDP; power; world economy (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:sae:intstu:v:57:y:2020:i:2:p:87-110

DOI: 10.1177/0020881720918966

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