World Economics - Insight , Analysis and Data
World Economics Journal
Crime & corruption
Economic indicators and forecasting
Gross Domestic Product (GDP)
Savings and debt
Exchange Rate Policy
Labour Market Reform
Law and Justice
Food and Agriculture
Media, Sport and Entertainment
Retail and Consumer Goods
World Economics Journal Archive
Browse the complete World Economics Journal archive.
World Economics Authors
Biographies and contact details for all authors.
Full list of executive editors and our advisory board
Submit an Article
Details and notes for authors regarding journal submissions.
Journal Subscription Information
Subscribe to the journal online.
About World Economics
History and information about the site.
Useful numbers and contact details.
Terms & Conditions
The West and the Rest in the World Economy: 1000–2030
World Economics, December 2008
This paper analyses the forces determining per capita income levels of nations over the past millennium and the prospects to 2030. In the year 1000 AD, Asian countries were in the lead. By 1820, per capita GDP in Western Europe and the US was twice the Asian average. The divergence had grown much bigger by 1950, but by the 1970s, several Asian countries – Japan, South Korea, Taiwan, Hong Kong and Singapore – had achieved considerable catch up. Since then, there has been a major surge in China and the beginning of a similar phenomenon in India. As a result, the Asian share of world income has risen steadily and, by 2030, will be fairly close to what it was in 1820. Maddison concludes by comparing his analysis with the Malthusian interpretation of Oded Galor.
Keep updated with:
Posts from Facebook
Tweets from Twitter
Groups on LinkedIn
Alerts from RSS feed
Copyright World Economics Ltd. 2016