Dr Deepak Nayyar - Professor of Economics, Jawaharlal Nehru University, New Delhi.
Stephany-Griffith Jones - ODI Research Associate and Professor, Columbia University
Dr Dirk Willem te Velde - Head of Programme, International Economic Development Group, ODI
Kevin Watkins - Director ODI
The International Economic Development Group (IEDG) at the Overseas Development Institute host the UK book launch of the book Catch Up: Developing Countries in the World Economy, by Dr Deepak Nayyar, discussing the role of developing countries in the global economy.
Catch Up analyzes the evolution of developing countries in the world economy from a long-term historical perspective, from the onset of the second millennium but with a focus on the second half of the twentieth century and the first decade of the twenty-first century. It is perhaps among the first to address this theme on such a wide canvas that spans both time and space.
Nayyar highlights the overwhelming significance of what are now developing countries in the world to trace their decline and fall from 1820 to 1950. The book explores the factors underlying this fall and rise to discuss the ongoing catch up in the world economy driven by industrialisation and economic growth.
The catch up is concentrated in a few countries. Growth has often not been transformed into meaningful development that improves the wellbeing of people. Yet, the beginnings of a shift in the balance of power in the world economy are discernible, but developing countries can sustain this rise only if they can transform themselves into inclusive societies where economic growth, human development and social progress move in tandem. Their past could then be a pointer to their future.
Following the workshop IEDG will host a workshop discussing the implications of the increased involvement of BRICS economies (Brazil, Russia, India, China and South Africa) in global governance. The workshop will discuss the role of emerging markets in global governance, in the area of trade, finance and climate change. The workshop will examine whether there is an active shift towards participation by emerging markets in global governance and if so, question the implications of this shift for low income countries?