Bangalore International Centrehad arranged a Book Launch of Book “CATCH UP : Developing Countries in the World Economy” authored by Prof. Deepak Nayyar, Emeritus Professor of Economics, Jawaharlal Nehru University, New Delhi.On 12th July, 2014 at 6.30 PM.Mr.Narayan Ramachandran, Chairman & co-founder of InKlude Labs, andFellow, Takshashila Institution.chaired and moderated the discussion. This Book Launch was arranged in collaboration with Takshashila Institution.
In a free-wheeling talk, Prof. Nayyar stressed that his book has tried to analyse the evolution of developing countries in the world economy, situated in a long term historical perspective, from the onset of the second millennium but with a focus on the second half of the twentieth century and the first decade of the twenty-first century. He explained the significance of what are now developing countries in the world until 200 years ago to trace their decline and fall from 1820 to 1950. The six decades since then have witnessed an increase in the share of developing countries not only in world population and world income but also in international trade, international investment, industrial production and manufactured exports which gathered momentum after 1980. He explained about the factors underlying this fall and rise to discuss the ongoing catch up in the world economy driven by industrialization and economic growth. Their impressive performance, disaggregated analysis shows, is characterized by uneven development. There is an exclusion of countries and people from the process. The catch up is concentrated in a few countries. Growth has often not been transformed into meaningful development that improves the wellbeing of people. Yet, the beginnings of a shift in the balance of power in the world economy are discernible. He reiterated that developing countries can sustain this rise only if they can transform themselves into inclusive societies where economic growth, human development and social progress move in tandem. Their past could then be a pointer to their future.
There was a lively interaction with theaudience after the discussion. This was an occasion when one could do with a much bigger auditorium, such was the rush.