The Bangladesh economy has undergone significant structural changes over the last four decades. The share of agriculture in GDP has declined, while the significance of industry and service sectors has increased. These structural changes have been associated with persistent challenges such as...

The authors study the sources and pattern of China's impressive economic growth over the past 25 years and show that key issues currently of concern to policymakers - widening inequality, rural poverty, and resource intensity - are to a large extent rooted in China's growth strategy, and...

This paper explores the implications of Unified Growth Theory for the origins of existing differences in income per capita across countries. The theory sheds light on three fundamental layers of comparative development. It identifies the factors that have governed the pace of the transition from...

This paper explores the implications of Unified Growth Theory for the origins of existing differences in income per capita across countries. The theory sheds light on three fundamental layers of comparative development. It identifies the factors that have governed the pace of the transition from...

Economic development, which refers to the process of progressive transformation of an economy, is a multifaceted term without a universal definition. This article presents the constitutive elements of economic development, such as growth, distribution, and innovation. Economic development has...

Between 1981 and 2017, real gross domestic product in Thailand grew at an average annual rate of 5.7 per cent. Agricultural output grew more slowly than industry or services, and its gross domestic product share consequently declined. Industry's gross domestic product share increased, and the...

Beginning in the 1980s, India has experienced an acceleration of economic growth by way of a promotion of a more efficient pro business and market oriented model. Following the rapid growth of the 1980s, the 1990s brought continued deregulation through market liberalization policies and...

The story of South Asia is a topsy-turvy one. Soon after independence from British rule, the region seemed to have a much better prospect than many other parts of the Third World; the prospects soon dimmed, however, as South Asia crawled while East and Southeast Asia galloped away. But a large...

This study empirically examines the impact of real interest rate on income inequality in India within a Kuznets Curve framework considering the role of economic growth, trade openness and technological innovation as the control variables. This study employs the ARDL bounds test for validating...

In transitional economies like China, comparatively low real wages imply sub-OECD labor and skill shares of value added and comparatively high capital shares. Despite rapid real wage growth, however, rather than converge toward the OECD, China's low-skill labor share has been falling, due to...