The balance of the world economy is shifting away from the established economies of Europe, Japan, and the USA, towards the emerging economies of Asia, especially India and China. With contributions from some of the world's leading growth theorists, this book analyses the long-term process of structural change and productivity growth across the world from a unique comparative perspective. Ongoing research from the World KLEMS Initiative is used to comparatively study new sources of growth - including the role of investment in intangible assets, human capital, technology catch-up, and trade in global value chains. This book provides comparisons of industries and economies that are key to analysing the impacts of international trade and investment. This makes it an ideal read for academics and students interested in understanding current patterns of economic growth. It will also be of value to professionals with an interest in the drivers of economic growth and crisis.
- This is the first book that analyses the process of structural change and productivity growth in Asia, Europe, Latin America and the USA from a long-term comparative perspective
- Relies on industry-level data for individual economies, rather than abstract conceptual models, and uses a common methodology throughout, to maximise accessibility
- Provides state-of-the-art techniques, whilst remaining accessible for non-specialists
- The information in the book is backed up by ongoing active research efforts