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Perspectives on Global Development 2019

Rethinking Development Strategies

image of Perspectives on Global Development 2019

In 2008, the weight of developing and emerging economies in the global economy tipped over the 50% mark for the first time. Since then, Perspectives on Global Development has been tracking the shift in global wealth and its impact on developing countries. How much longer can the dividends of shifting wealth benefit development, and what does this mean for development strategies?

This new edition first investigates what China’s transformation has meant for global development perspectives, and how shifting wealth has affected countries beyond economic terms, exploring well-being across the developing world. It also analyses and draws lessons from development paradigms over the past 70 years, showing that developing nations in the 21st century have to invent their own, original pathways to greater well-being and sustainability. The time has come to rethink international co-operation and foster more effective exchanges of social and human capital.

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Facing new challenges for development

OECD Development Centre

The transformation of the global economic geography has fundamentally changed the world and gradually flipped many previously assumed development paradigms on their head. No unique path to development has ever existed. However, mainstream development thinking assumes that policy makers can put their economies on a convergent economic path with the most developed countries in the world by integrating a common set of previously successful policies that structurally favour growth. Countries need to adapt strategies that reflect their own endowments, cultures and institutions. They also need to navigate many new challenges that previously industrialising countries did not face. This chapter discusses such challenges in the context of economic, social and environmental pathways.

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