Globalization and Growth in the Twentieth Century

March 1, 2000

Preview Citation

Format: Chicago

N. F. R. Crafts Globalization and Growth in the Twentieth Century, (USA: International Monetary Fund, 2000) accessed December 27, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper reviews the experience of economic growth during the twentieth century with a view to highlighting implications for both growth economists and policy-makers. The unprecedented divergence in income levels between the OECD economies and many developing countries is documented but so too is a more optimistic picture of widespread progress in terms of the Human Development Index. Various aspects of the changes in economic structure are explored in terms of their implications for growth performance both in retrospect and prospect. The possibility that the growth process will lead to another globalization backlash reminiscent of the 1930s is analyzed.

Subject: Expenditure, Income, Labor, National accounts, Production, Productivity, Public expenditure review, Total factor productivity

Keywords: Adverse selection, Africa, Convergence, Developing world, Diminishing returns, East Asia, Eastern Europe, Financial crisis, Foreign policy, Globalization, Growth, Income, Productivity, Public expenditure review, Real GDP, South Asia, TFP growth, Third world, Total factor productivity, Western Europe, WP

Publication Details

Pages:

75
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2000/044
Stock No:

WPIEA0442000
ISBN:

9781451846409
ISSN:

1018-5941

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