Is the World's Economic Center of Gravity Already in Asia?
AbstractThis paper proposes a simple measure of the World's Economic Center of Gravity (WECG) based on national GDP figures and the geographical location of the world's most important cities. This measure makes it possible to characterize the location of economic activity around the globe. It turns out that, over the 1975-2004 period, the WECG has shifted towards Asia, and the location of economic activity has become more evenly spread. On average, the distance to the WECG, which is highly correlated with the remoteness indicator frequently used in the trade gravity literature, has decreased more in Asian cities (-12%) and increased more in European cities (+16%).
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Bibliographic InfoPaper provided by Université de Lausanne, Faculté des HEC, DEEP in its series Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP) with number 08.03.
Length: 29 pages
Date of creation: Aug 2008
Date of revision:
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More information through EDIRC
Geographical location of economic activity; center of gravity; spatial imbalances;
Find related papers by JEL classification:
- F01 - International Economics - - General - - - Global Outlook
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