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The 'Rise of the South': Global Convergence at Last?

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  • Alfredo Saad-Filho

Abstract

This article offers a political economy review of the literatures and the empirical evidence concerning the 'Rise of the South'. The study focuses on global convergence (in the long-term, in the last 30 years, and in the aftermath of the 2008 global crisis), economic decoupling between developing and advanced economies, and the economic strategies which may help catching-up, especially the 'flying geese' paradigm and industrial policies supporting manufacturing sector growth. It shows that the mainstream literature suffers from significant weaknesses; that empirical claims concerning convergence and decoupling have been exaggerated, and that flying geese-type strategies are severely limited. Examination of the drivers of growth in the South and the policies implemented in key converging countries support the claim that political economy approaches can offer valuable policy insights to countries grappling with the challenges of long-term growth and development.

Suggested Citation

  • Alfredo Saad-Filho, 2014. "The 'Rise of the South': Global Convergence at Last?," New Political Economy, Taylor & Francis Journals, vol. 19(4), pages 578-600, August.
    • Handle: RePEc:taf:cnpexx:v:19:y:2014:i:4:p:578-600
    DOI: 10.1080/13563467.2013.829432
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    1. Cornia, Giovanni Andrea & Jolly, Richard & Stewart, Frances (ed.), 1987. "Adjustment with a Human Face: Volume 1, Protecting the Vulnerable and Promoting Growth," OUP Catalogue, Oxford University Press, number 9780198286097, Decembrie.
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    Cited by:

    1. Laurids S. Lauridsen, 2018. "New economic globalization, new industrial policy and late development in the 21st century: A critical analytical review," Development Policy Review, Overseas Development Institute, vol. 36(3), pages 329-346, May.

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