Growth poles and multipolarity
AbstractThis paper develops an empirical measure of growth poles and uses it to examine the phenomenon of multipolarity. The authors formally define several alternative measures, provide theoretical justifications for these measures, and compute polarity values for nation states in the global economy. The calculations suggest that China, Western Europe, and the United States have been important growth poles over the broad course of world history, and in modern economic history the United States, Japan, Germany, and China have had prominent periods of growth polarity. The paper goes on to analyze the economic and institutional determinants, both at the proximate and fundamental level, that underlie this measure of polarity, as well as compute measures of dispersion in growth polarity shares for the major growth poles.
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Bibliographic InfoPaper provided by The World Bank in its series Policy Research Working Paper Series with number 5712.
Date of creation: 01 Jun 2011
Date of revision:
Economic Theory&Research; Achieving Shared Growth; Economic Growth; Population Policies; Currencies and Exchange Rates;
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Open Access publications from Universidad Carlos III de Madrid
info:hdl:10016/13207, Universidad Carlos III de Madrid.
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