The positive association between the service sector share of output and per capita income is one of the best-known regularities in all of growth and development economics. Yet there is less than complete agreement on the nature of that association. Here we identify two waves of service sector...

This paper presents a comprehensive set of stylised facts for business cycles in India from 1950-2010. We show that most macroeconomic variables are less volatile in the post reform period, even though the volatility of macroeconomic variables is still high and similar to other emerging market...

We study the sectoral allocation of public infrastructure investments in the agriculture and manufacturing sectors in India. In addition to the changing employment and output shares of these two sectors, the capital output ratio in agriculture in India has fallen, while it has risen in...

Chapter 1. Mao Zedong and the Preconditions for the Butterfly Effect -- Chapter 2. Deng Xiaoping Triggered off the Butterfly Effect -- Chapter 3. Confucius as Cultural Capital in Sustaining the Butterfly Effect -- Chapter 4. Spread Education and Devouring Global Knowledge -- Chapter 5. Economic...

This book provides an assessment of the megatrends that are reshaping the emerging markets landscape. With developing countries already accounting for 40% of world GDP, emerging markets consumption growth will be an increasingly important growth engine for the world economy over the next two...

This book surveys Poland’s move from being a post-feudal, backward, peripheral country to being a modern, capitalist, European state: from the partition of the commonwealth of Poland and Lithuania to the abolishment of ‘second serfdom’; late industrialization to state socialism;...

Introduction: Demand, Complexity, and Long-Run Economic Evolution -- Part I Re-thinking the Economic Possibilities of Our Grandchildren -- Work and Consumption in an Era of Unbalanced Technological Advance -- Institutions Hold Consumption on a Leash: An Evolutionary Economic Approach to the...