Between 1950 and 1973, a process of absolute convergence was at work between the technological leader, the USA, West European countries and Japan. The catching up process between developed countries gradually vanished between 1973 and 1995. On the one hand, we had a revival of US labour...

Since the Second World War, western governments have implemented trade liberalisation policies which have been very successful and have spread across the rest of the globe. However, some countries have remained outside this general movement because of national policies aimed at self-reliance, or...