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New Growth Poles in the Global Economy

Author(s): Barbara Liberska
Subject(s): Economy
Published by: Instytut Nauk Ekonomicznych Polskiej Akademii Nauk
Keywords: globalisation; New Growth Poles in the Global Economy; emerging markets; China as a growth pole; Integration of emerging countries (South-South)

Summary/Abstract: Global crisis has accelerated the shift of growth poles from developed to developing countries. Dynamic economic growth of emerging markets in the last decades caused a signifi cant increase in their share of global GDP, trade, capital flows, investment, and technology transfer. The result is the emergence of new growth centers located around the major emerging economies in various regions of the world. China – the largest emerging economy – thanks to its size, dynamics, and economic ties with majority of countries has become the largest growth pole in contemporary world. It is now a major force in the globalizing developing world and contributes to the deepening of economic integration among developing countries, which is an important driver of economic growth. The World Bank studies indicate that the impact of new growth poles will increase in the coming decades.

  • Issue Year: 2013
  • Issue No: 2
  • Page Range: 191-215
  • Page Count: 25
  • Language: Polish