Fifth World of Economic Dimension for Development

This chapter introduces and conceptualises the Fifth World of Economic Dimension as a novel analytical framework for understanding development in the twenty-first century. It argues that traditional classifications of global economic systems—developed, developing, underdeveloped, and emerging economies—fail to adequately capture the complexities, asymmetries, and interdependencies that characterise today’s global economic order. The Fifth World is presented not as a geographical or geopolitical construct, but as a structural-economic paradigm defined by technological disruption, financial interconnectedness, climate change challenges, and shifting power relations. The chapter critically examines how the Fifth World paradigm redefines the relationship between economic growth, power distribution, and sustainable development. It highlights key dimensions such as innovation capacity, digital economies, resource governance, and institutional adaptability as determinants of countries’ positioning within this new order. Drawing from comparative analysis across sub-Saharan Africa, Asia, and Latin America, it demonstrates how states can either leverage or be marginalised by the Fifth World, depending on their ability to integrate technology, strengthen governance, and pursue inclusive growth strategies. By employing insights from political economy, institutional economics, and development theory, the chapter situates the Fifth World within broader debates on inequality, dependency, and structural transformation. It emphasises that development strategies must move beyond traditional Gross Domestic Product–based metrics to incorporate resilience, equity, and sustainability. The chapter also underscores the alignment of the Fifth World with global frameworks such as the Sustainable Development Goals, particularly Sustainable Development Goal 8 (Decent Work and Economic Growth), Sustainable Development Goal 9 (Industry, Innovation, and Infrastructure), and Sustainable Development Goal 13 (Climate Action). The chapter concludes that the Fifth World of Economic Dimension is both a challenge and an opportunity: it challenges outdated models of economic classification while offering new pathways for countries, especially in sub-Saharan Africa, to harness structural transformation and inclusive development.