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East—South Trade

In: Theory and Reality in Development

Author

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  • Deepak Nayyar

Abstract

The literature on international economics makes two sets of distinctions between nation states in the contemporary world. The first distinction between rich and poor countries, North and South, is based on differences in levels of income and development. The second distinction between socialist and capitalist countries, East and West, is based on differences in political and economic systems. Such a division of the world into North and South or East and West is not adequate, since the categories are neither mutually exclusive nor exhaustive. The somewhat old-fashioned distinction between the First, Second and Third Worlds is perhaps more appropriate. This enables us to divide the world into three groups of countries: the West constituted by the OECD countries, the East made up of the USSR and Eastern Europe, and the South comprising the less developed world. Such a division of the world economy into East, West and South is not without its conceptual problems, but it is preferable from the viewpoint of analysis in so far as it uses both sets of distinctions mentioned above.

Suggested Citation

  • Deepak Nayyar, 1986. "East—South Trade," Palgrave Macmillan Books, in: Sanjaya Lall & Frances Stewart (ed.), Theory and Reality in Development, chapter 14, pages 240-269, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-18128-5_14
    DOI: 10.1007/978-1-349-18128-5_14
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