Mixed Fortunes
An Economic History of China, Russia, and the West
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Product details:
- Publisher OUP Oxford
- Date of Publication 17 April 2014
- ISBN 9780198703631
- Binding Hardback
- No. of pages206 pages
- Size 241x162x20 mm
- Weight 462 g
- Language English
- Illustrations Figures and Tables 0
Categories
Short description:
This book offers a new interpretation of the 'Great Divergence' and 'Great Convergence' stories. It shows how Western countries grew rich and why parts of the developing world did or didn't catch up with the West during 1500-1950, with a focus China and Russia.
MoreLong description:
The rise of the West is often attributed the presence of certain features in Western countries from the 16th century that were absent in more traditional societies: the abolition of serfdom and Protestant ethics, the protection of property rights, and free universities. The problem with this reasoning is that, before the 16th century, there were many countries with social structures that possessed these same features that didn't experience rapid productivity growth.
This book offers a new interpretation of the 'Great Divergence' and 'Great Convergence' stories. It explores how Western countries grew rich and why parts of the developing world (South and East Asia and the Middle East) did not catch up with the West from 1500 to 1950 but began to narrow the gap after 1950. It also examines why others (Latin America, South Africa, and Russia) were more successful at catching up from 1500 to 1950, but then experienced a slowdown in economic growth compared to other developing countries. Mixed Fortunes offers a novel interpretation of the rise of the West and of the subsequent development of 'the rest' and China and Russia, important examples of two groups of developing countries, are examined in greater detail.
Popov has certainly written an interesting and challenging book.This small monograph deals with a very big topic: the great divergence in economic development,between Western countries and those of China and South East Asia, from the sixteenth century to the mid-twentieth century; and the great convergence between China and the West from the second half of the twentieth century.
Table of Contents:
Introduction
How the West became Rich: Stylized Facts and Literature Review
Why Did the West Become Rich First? Why Are Some Developing Countries Catching Up But Others Are Not?
Chinese and Russian Economies Under Central Planning: Why the Difference in Outcomes?
Chinese and Russian Economies Since Reforms: Transformational Recession in Russia and Acceleration of Growth in China
Growth Miracles and Failures: Lessons for Development Economics
Conclusions
