Emerging economies in 2013 – Economist

Great perspective on the emerging markets.

“China’s ‘authoritarian growth miracle’ is over…. they just don’t last” - William Easterly

Which countries will be the economic success stories of 2013? William Easterly, professor of economics at New York University, and Dambisa Moyo, author of “Winner Take All”, consider the fate of the emerging economies in the near future in a discussion moderated by The Economist’s Zanny Minton Beddoes at The Economist’s World in 2013 Festival on December 8th 2012.

(click here if video is not observable)

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2 Responses to Emerging economies in 2013 – Economist

  1. What was this growth miracle between 1960 and 1975?

    • macromon says:

      George, Thanks for commenting. I think he was speaking of the import substitution model, which was the policy post-colonial Africa, esp. Togo.

      Try this:
      http://www.columbia.edu/~ap2231/Policy%20Papers/miracles%20and%20debacles-panagariya-rev-March_04.pdf

      Rodrik (1999) has observed that if one counts the number of countries experiencing rapid growth, the years 1960-73 define the golden period of growth for developing countries. Per-capita incomes in as many as 30 countries grew annually at rates equaling or exceeding 3 percent during this period. In comparison, growth rates plummeted in most developing countries during 1973-84 and 1984-94. Noting that 1960-73 was the period of import-substitution industrialization (ISI) and 1984-94 that of liberalization, Rodrik concludes that this suggests the triumph of ISI.

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