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The Economic Rise of Developing Countries

Author

Listed:
  • Vasil Gechev

    (University of National and World Economy)

Abstract

Back in 1990 the Report of the South Commission - in a nod to I. Wallerstein's 'The Modern World - System', qualified developing countries (also called the South) as 'largely bypassed by the benefits of prosperity and progress', 'unfavorably placed in the world economic system' and 'existing on the periphery of the developed countries of the North'. Who would have imagined that after nearly 25 years - a short period from an historical perspective, the global economic landscape would be radically changed, with developing countries having a prominent role in the world economy and their dependency substituted by significant shares in world trade and FDI flows. Based on historical and comparative analyses, this paper examines the economic rise of developing countries and outlines the key factors behind the vast economic transformation.

Suggested Citation

  • Vasil Gechev, 2017. "The Economic Rise of Developing Countries," Economy and Economic Theory: Problems and Interactions, Conference Proceedings 2017, Department of Economics, University of Economics - Varna, issue 1, pages 284-293, December.
    • Handle: RePEc:vra:pr1712:y:2017:i:1:p:284-293
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    More about this item

    Keywords

    Developing countries; World Economy; International Trade; Foreign Direct Investment;
    All these keywords.

    JEL classification:

    • A00 - General Economics and Teaching - - General - - - General

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