The Changing Structure of World Output and Trade

2010 ◽  
pp. 1-28
Keyword(s):  
World Output

Reclaiming the Lost Glory

New India ◽  
2020 ◽  
pp. 3-11
Author(s):  
Arvind Panagariya
Keyword(s):  
Developing Countries ◽  
Industrial Revolution ◽  
Policy Reform ◽  
Policy Framework ◽  
Third Place ◽  
Sustained Growth ◽  
British Rule ◽  
World Output

Until 1820, India accounted for one-sixth or more of world output. But under British rule and in the wake of the Industrial Revolution, its economy was eclipsed. Today, though, India stands on the cusp of reclaiming its lost glory. During the fifteen years ending in 2017/18, India’s economy grew 7.7 percent in real rupees and 9.9 percent in real dollars. Today its GDP stands at $2.6 trillion. Even if it were to grow at only 8 percent in real dollars in the coming decade, GDP would reach $7.2 trillion by 2030/31, placing the country in third place in the global GDP rankings. But, as the experiences of all successful developing countries show, sustained growth at a rate of 8 percent or higher requires a policy framework that leads to greater outward orientation, urbanization, and expansion of labor-intensive manufacturing. With concerted policy reform, such transformation is within India’s grasp.

Summary and Appraisal

1977 ◽  
Vol 79 ◽  
pp. 3-5
Keyword(s):  
Durable Goods ◽  
Fixed Investment ◽  
Steady Rate ◽  
World Output

A year ago world output was rising much faster than we realised at the time, as stocks were rebuilt after the recession and consumers began to spend a higher proportion of their incomes, particularly on deferred purchases of cars and other durable goods. Though the pace has not been maintained, the increase in the volume of output in the OECD area still reached 5–5 1/2 per cent for the year as a whole. We expect a steady rate of expansion of some 4–4 1/2 per cent a year in both 1977 and 1978, with fixed investment accounting for a higher proportion of growth than in 1976 and stock movements for substantially less.

Morales will not push coca farmers in Bolivia

2018 ◽  
Keyword(s):  
Eradication Programme ◽  
Content Type ◽  
Bilateral Relations ◽  
The Government ◽  
World Output

Subject Coca politics. Significance Farmers from the Yungas region have demanded the resignation of President Evo Morales following clashes with police over the government's coca eradication programme. The area of land cultivated with coca has risen in the last three years, reflecting higher prices. Producers in the Yungas have long adopted a more independent stance from the government than those in the Chapare region, Morales's key social base. They have been largely successful in resisting eradication. Impacts Internationally, the government will continue to defend its position in seeking to regulate, not eliminate coca. Further complaints from Washington will place continued tension on bilateral relations. Until production is curbed in Colombia, Bolivia's share of world output will probably decline.

The World Economy

2001 ◽  
Vol 176 ◽  
pp. 35-60
Keyword(s):  
European Union ◽  
North America ◽  
World Economy ◽  
The European Union ◽  
Capacity Limits ◽  
The World ◽  
Full Capacity ◽  
Unusual Occurrence ◽  
Capacity Output ◽  
World Output

The five years up until the end of 2000 saw a period of rapid growth in the world economy, with OECD output increasing by 3¼ per cent a year, and overall world output rising by 3¾ per cent a year. Sustained strong growth of this nature is an unusual occurrence. Once capacity limits are reached, growth is bound to slow. This is particularly likely if full capacity output is attained simultaneously in a number of regions, much as we believe happened in North America and Europe in 2000, where growth was 5 per cent and 3¼ per cent respectively. We anticipate that growth will slow to 1.9 per cent in North America and to 2½ per cent in the European Union in 2001. World growth is expected to slow to under 3 per cent in 2001, with OECD growth declining to under 2¼ per cent, which would be the weakest seen since 1993. Although this cannot be regarded as a deeply worrying slowdown, there are significant risks associated with our projections.

Chapter II. The World Economy

1976 ◽  
Vol 78 ◽  
pp. 21-39
Keyword(s):  
World Economy ◽  
Rapid Rise ◽  
Business Investment ◽  
Slowing Down ◽  
The World ◽  
General Climate ◽  
World Output

The general climate of opinion about the likely course of the world economy over the next two or three years has altered considerably during the last few months. Around the middle of the year it was not infrequently suggested that the very rapid rise in output in the first quarter was the prelude to a coming boom which would cause governments to slam on the brakes some time next year and thus produce a new recession in 1978. Anxieties about 1978 still persist, but since the extent of the slowing down in the growth of world output in the second quarter became apparent the basis of these anxieties has changed. The fear now is that the recovery may peter out without gaining sufficient momentum to generate the revival of business investment on which its continuation beyond 1977 largely depends.

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