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

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  • Deepak Nayyar

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.

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  • Deepak Nayyar, 2016. "Structural transformation in the world economy: On the significance of developing countries," WIDER Working Paper Series wp-2016-102, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:wp-2016-102
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    File URL: https://www.wider.unu.edu/sites/default/files/wp2016-102.pdf
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    References listed on IDEAS

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