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Convergence? More developing countries are catching up

In: Mapping a New World Order

Author

Listed:
  • Vladimir Popov
  • Jomo Kwame Sundaram

Abstract

The chapter reviews catch-up or converging growth in parts of the Global South. By 1950, US per capita national income, adjusted for purchasing power, was nearly five times the world average. Since then, Western Europe and Japan have closed their per capita income gaps with the USA. East Asia, South Asia and some other developing countries have also started to close gaps with the West in recent decades. Thus, after two centuries of growing economic divergence, the world has witnessed an era of uneven convergence between parts of the South and the North. Alternative scenarios and some future implications are considered.

Suggested Citation

  • Vladimir Popov & Jomo Kwame Sundaram, 2017. "Convergence? More developing countries are catching up," Chapters, in: Vladimir Popov & Piotr Dutkiewicz (ed.), Mapping a New World Order, chapter 1, pages 7-22, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:17622_1
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    File URL: https://www.elgaronline.com/view/9781786436474.00007.xml
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    Cited by:

    1. Popov, Vladimir, 2023. "Can China maintain high growth rates under the “dual-circulation” decoupling?," MPRA Paper 117953, University Library of Munich, Germany.
    2. Kaumudi Misra, 2019. "The relationship between economic growth and carbon emissions in India," Working Papers 447, Institute for Social and Economic Change, Bangalore.

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