Staff Publications

Staff Publications

  • external user (warningwarning)
  • Log in as
  • language uk
  • About

    'Staff publications' is the digital repository of Wageningen University & Research

    'Staff publications' contains references to publications authored by Wageningen University staff from 1976 onward.

    Publications authored by the staff of the Research Institutes are available from 1995 onwards.

    Full text documents are added when available. The database is updated daily and currently holds about 240,000 items, of which 72,000 in open access.

    We have a manual that explains all the features 

Record number 546930
Title The path to economic development is growing more treacherous, again
Author(s) Frankema, Ewout
Source The path to economic development is growing more treacherous, again, The Economist, 2018-11-03, https://www.economist.com/finance-and-economics/2018/11/03/the-path-to-economic-development-is-growing-more-treacherous-again
Department(s) WASS
Rural and Environmental History
Publication type Media appearance
Publication year 2018
Abstract

In the 1990s economists had almost given up on the developing world. Although individual countries, like Singapore or South Korea, occasionally scaled the income ladder, the overall picture was, in the words of Lant Pritchett, a development economist at Harvard University, “divergence, big-time” between advanced economies and the rest. Then the scene changed. From the late 1990s global trade grew explosively, and the gap between the rich and the rest closed fast. Poverty tumbled. The share of people living on no more than $1.90 a day (at purchasing-power parity) fell from 36% in 1990 to just 10% in 2015. It would be the best of news if this trend could be maintained. Sadly, convergence seems to be slowing. That is bad news for Africa in particular.

The path to becoming a rich country usually runs through industrialisation, supported by opening up to trade and developing export industries. Trade facilitates technology transfer. Global markets weed out all but the most productive firms and allow even companies from small countries to scale up using techniques such as mass production.

Comments
There are no comments yet. You can post the first one!
Post a comment
 
Please log in to use this service. Login as Wageningen University & Research user or guest user in upper right hand corner of this page.