Growth Divergences

In recent years, most developing countries have grown faster than the developed economies. This volume of analytical studies seeks to explain major differences in economic performance in recent decades by considering the dynamics of international economic growth, diverging growth rate, economic structures, and sources of demand, successes and collapses in the developing world, recent episodes of real income stagnation of countries. Several chapters critically review latest misleading claims and the conventional wisdom regarding the relationship of trade liberalization, financial development, development, aid, infrastructure spending, violent conflict, good governance, and industrial policy to economic growth.