Catch Up

by Deepak Nayyar

Catch Up analyzes the evolution of developing countries in the world economy from a long-term historical perspective, from the onset of the second millennium but with a focus on the second half of the twentieth century and the first decade of the twenty-first century. It is perhaps among the first to address this theme on such a wide canvas that spans both time and space. In doing so, it highlights the dominance of what are now developing countries and it traces their decline and fall from 1820 to 1950. The six decades since 1950 have witnessed an increase in the share of developing countries not only in world population and world income, but also in international trade, international investment, industrial production, and manufactured exports which gathered momentum after 1980. This book explores the factors underlying this fall and rise, to discuss the on-going catch up in the world economy driven by industrialization and economic growth. Their impressive performance, disaggregated analysis shows, is characterized by uneven development. There is an exclusion of countries and people from the process. The catch up is concentrated in a few countries. Growth has often not been transformed into meaningful development that improves the wellbeing of people. Yet, the beginnings of a shift in the balance of power in the world economy are discernible. But developing countries can sustain this rise only if they can transform themselves into inclusive societies where economic growth, human development, and social progress move in tandem. Their past could then be a pointer to their future.

Genres: Economics, India

176 pages, Hardcover

First published January 1, 2013

Reviews

[Anil Swarup · Rating 4 out of 5]

All was well till the 19th century as China and India were doing extremely well on the economic front. The combination of industrial revolution in the west and colonialism changed it all and impoverished Asian countries. And now it is catch up as the Asian countries attempt to achieve the heights they occupied till the 19th century. We knew this intuitively but Nayyar provides data to validate this. What the book also highlights is the iniquitous distribution of wealth despite a phenomenal growth achieved during the last few decades and despite unprecedented reduction in poverty. An extremely well researched book.

[Hrishikesh · Rating 3 out of 5]

One of the most comprehensive commentary on global economic convergence and divergence.

I concede my mistake while reading the book - was too fractured in time, and could not ponder over it adequately. A little rush. And that has influenced my reading of the book.