Shifting patterns of economic growth and rethinking development
AbstractThis paper provides an historical overview of both the evolution of the economic performance of the developing world and the evolution of economic thought on development policy. The 20th century was broadly characterized by divergence between high-income countries and the developing world, with only a limited number (less than 10 percent of the economies in the world) managing to progress out of lower or middle-income status to high-income status. The last decade witnessed a sharp reversal from a pattern of divergence to convergence --particularly for a set of large middle-income countries. The latter phenomenon was also driven by increasing economic ties among developing countries, and on the intellectual scale, increased knowledge generation and sharing among the developing countries. Re-thinking development policy implies confronting these realities: 20th century economic divergence, the experience of the handful of success stories, and the recent rise of the multi-polar growth world. The paper provides descriptive data and a literature survey to document these trends. The paper also provides a brief survey of the role of multilateral institutions -- in particular, the World Bank -- in this changing context and offers suggestions on how they can adapt their strategies to improve development outcomes.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by The World Bank in its series Policy Research Working Paper Series with number 6040.
Date of creation: 01 Apr 2012
Date of revision:
Economic Theory&Research; Emerging Markets; Achieving Shared Growth; Debt Markets; Country Strategy&Performance;
Other versions of this item:
- Justin Yifu Lin & David Rosenblatt, 2012. "Shifting patterns of economic growth and rethinking development," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 15(3), pages 171-194, September.
- NEP-ALL-2012-05-02 (All new papers)
- NEP-CWA-2012-05-02 (Central & Western Asia)
- NEP-DEV-2012-05-02 (Development)
- NEP-HIS-2012-05-02 (Business, Economic & Financial History)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Aghion, Philippe & Tirole, Jean, 1994. "The Management of Innovation," The Quarterly Journal of Economics, MIT Press, vol. 109(4), pages 1185-1209, November.
- Jeffrey D. Sachs & Wing Thye Woo & Xiaokai Yang, 2000.
"Economic Reforms and Constitutional Transition,"
CID Working Papers
43, Center for International Development at Harvard University.
- Lin, Justin Yifu & Li, Zhiyun, 2008. "Policy burden, privatization and soft budget constraint," Journal of Comparative Economics, Elsevier, vol. 36(1), pages 90-102, March.
- David I. Harvey & Neil M. Kellard & Jakob B. Madsen & Mark E. Wohar, 2010. "The Prebisch-Singer Hypothesis: Four Centuries of Evidence," The Review of Economics and Statistics, MIT Press, vol. 92(2), pages 367-377, May.
- Aghion, Philippe & Tirole, Jean, 1994.
"On the Management of Innovation,"
IDEI Working Papers
36, Institut d'Économie Industrielle (IDEI), Toulouse.
- António Antunes & Tiago Cavalcanti & Anne Villamil, 2006.
"The Effect of Financial Repression & Enforcement on Entrepreneurship and Economic Development,"
SCAPE Policy Research Working Paper Series
0610, National University of Singapore, Department of Economics, SCAPE.
- Antonio Antunes & Tiago Cavalcanti & Anne Villamil, 2006. "The Effect of Financial Repression & Enforcement on Entrepreneurship and Economic Development," Development Economics Working Papers 21816, East Asian Bureau of Economic Research.
- Adams-Kane, Jonathon & Lim, Jamus Jerome, 2011. "Growth poles and multipolarity," Policy Research Working Paper Series 5712, The World Bank.
- Josef C. Brada, 1996. "Privatization Is Transition--Or Is It?," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 67-86, Spring.
- Fu, Xiaolan & Gong, Yundan, 2011. "Indigenous and Foreign Innovation Efforts and Drivers of Technological Upgrading: Evidence from China," World Development, Elsevier, vol. 39(7), pages 1213-1225, July.
- Rogers, F. Halsey, 2010. "The global financial crisis and development thinking," Policy Research Working Paper Series 5353, The World Bank.
- Das, Jishnu & Do, Quy-Toan & Shaines, Karen & Srinivasan, Sowmya, 2009. "U.S. and them : the geography of academic research," Policy Research Working Paper Series 5152, The World Bank.
- World Bank, 2005. "Economic Growth in the 1990s : Learning from a Decade of Reform," World Bank Publications, The World Bank, number 7370, March.
- Heckelman, Jac C. & Knack, Stephen & Rogers, F. Halsey, 2011. "Crossing the threshold : an analysis of IBRD graduation policy," Policy Research Working Paper Series 5531, The World Bank.
- P.A.G. van Bergeijk & C. van Marrewijk, 2012.
"Heterogeneity and development: an agenda,"
12-14, Utrecht School of Economics.
- Peter A.G. van Bergeijk & Charles van Marrewijk, 2013. "Heterogeneity and development: An agenda," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 22(1), pages 1-9, February.
- Im, Fernando Gabriel & Rosenblatt, David, 2013. "Middle-income traps : a conceptual and empirical survey," Policy Research Working Paper Series 6594, The World Bank.
- Clifton, Judith & Diaz Fuentes, Daniel & Revuelta, Julio, 2013.
"Financing Utilities: How the Role of the European Investment Bank shifted from regional development to making markets,"
51011, University Library of Munich, Germany.
- Clifton, Judith & Diaz Fuentes, Daniel & Revuelta, Julio, 2013. "Financing Utilities: How the Role of the European Investment Bank shifted from regional development to making markets," MPRA Paper 50557, University Library of Munich, Germany.
- Ben Fine & Elisa Van Waeyenberge, 2013. "A Paradigm Shift that Never Will Be?: Justin Linâ€™s New Structural Economics," Working Papers 179, Department of Economics, SOAS, University of London, UK.
- Lin, Justin Yifu & Fardoust, Shahrokh & Rosenblatt, David, 2012. "Reform of the international monetary system : a jagged history and uncertain prospects," Policy Research Working Paper Series 6070, The World Bank.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Roula I. Yazigi).
If references are entirely missing, you can add them using this form.