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New developments in the world economy : A tough agenda for MICs?

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  • New developments in the world economy
  • Singh, Ajit
  • University of Cambridge


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Title New developments in the world economy
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Sub Title

A tough agenda for MICs?

Material Type Articles
Author(English)

Singh, Ajit

Publisher

[Cambridge]:University of Cambridge

Date 2014-06
Series Title; No Working Paper / 461
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Administration
Industry and Technology < General
Holding University of Cambridge

Abstract

We are living through extraordinary times. During the first twelve years of the new millennium, unusually, developing countries (DCs) expanded faster than advanced countries (ACs). IMF suggests that the improvement in DCs during this crisis is due to their ability to absorb shocks. In the most recent period, there has been a reduction in growth rates in most middle-income countries (MICs) as well as in advanced countries. The paper’s second part examines the epic story of South Korean industrialisation. A fundamental argument here is that developing countries have much to learn from each other. This brief presentation ends on an important point that the South-South cooperation is not intended to replace North-South cooperation but rather to supplement it.

User Note

This Working Paper forms part of the CBR Research Programme on Corporate Governance