EFFICIENCY, CONTRADICTIONS AND PERSPECTIVES
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EFFICIENCY, CONTRADICTIONS AND PERSPECTIVES
Annotation
PII
S0321-50750000617-4-1
Publication type
Article
Status
Published
Pages
2-8
Abstract
The article, based on a series of calculations and models, contains an analysis of rapid and deep changes in the roles of major actors of the global economy in historical perspective. It demonstrates that despite a number of acute financial, ecological and socio-political problems many developing countries have, on the whole, considerably gained from ongoing globalization, experienced a speed-up in productivity and per capita GDP growth rates and substantially enlarged their positions in global GDP, industrial production, FDI inflows, exports, R&D expenditures. It is shown that it was brought about because, having carried out rather pragmatic macroeconomic and institutional reforms, developing countries in the context of growing interconnectedness of the world economy have managed to apply more or less effectively their comparative as well as dynamic advantages (low though increasing levels of wages, steeply rising rates of educational attainment and investment accumulation, growing demand for their goods and services in the global markets).
Keywords
developing countries, world economy, globalization, comparative and dynamic advantages, models, competitiveness, efficiency
Date of publication
01.06.2014
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0
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444
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