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• W2153287430 abstract "�The object of this paper is to analyze the evolution of developing countries in the world economy situated in its wider historical context, from the onset of the second millennium, but with a focus on the second half of the twentieth century, which sets the stage to consider the rise of the South that is centre-stage at the end of the first decade in the twenty-first century. The structure of the discussion is as follows. Section I examines the changes in the economic importance of Africa, Asia and Latin America (now described as the developing world), as compared with Western Europe, Eastern Europe, North America and Japan (now described as the industrialized world), in a long term historical perspective. 1 It highlights the dominance of the South until about 200 years ago, to trace its decline and fall from 1820 to 1950. Section II considers the changes in the significance of developing countries in the world economy since 1950. It reveals an increase in the share of developing countries not only in world population and income, but also in international trade, international investment, industrial production and manufactured exports, which gathered momentum from 1980. Section III analyzes the factors underlying this apparent rise of the South in the world economy. In doing so, it discusses catch-up in terms of economic growth and industrialization. Section IV disaggregates the impressive performance of the developing world to argue that this rise is associated with unequal participation and uneven development. Indeed, there is a concentration in the process * This paper draws upon earlier work of the author, in particular, Nayyar (2009) 1 This distinction between the developing world and the industrialized world, defined in terms of geographical regions, is used in setting out the historical perspective based on the statistics compiled by Maddison (2003). The definition of the developing world is exactly the same throughout the paper. However, in the subsequent discussion on evolution of the world economy since 1950, the industrialized world is constituted by countries in Western Europe, North America, Japan, Australia and New Zealand (the 21countries that were original members of the OECD). The erstwhile centrally planned economies, now transition economies, of Eastern Europe and the former USSR are excluded from the analysis, because the statistics available for these countries are not always complete or consistent in terms of coverage." @default.
• W2153287430 created "2016-06-24" @default.
• W2153287430 creator A5043863358 @default.
• W2153287430 date "2013-07-08" @default.
• W2153287430 modified "2023-09-24" @default.
• W2153287430 title "The South in the World Economy: Past, Present and Future" @default.
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