Structural transformation in the world economy: On the significance of developing countries

Deepak Nayyar

No wp-2016-102, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: This paper outlines the contours of global economic development, since 1980, to analyse underlying factors and consider future implications. The increased economic significance of developing countries, reflected in their share of world output, manufacturing and trade, is striking. But development, driven by rapid economic growth, has been most uneven. It is concentrated in a few economies, the Next-14, which have led the catch-up process. Their similarities—initial conditions, enabling institutions and supportive governments—suggest lessons for latecomers.

Keywords: Economic development; Economic growth; Globalization; International economic relations (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:unu:wpaper:wp-2016-102

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