1 January 1998
Globalisation, Industrialisation and Sustainable Growth: The Pursuit of the Nth Rent
Published by: Institute of Development Studies
Globalisation offers the potential to raise economic growth rates significantly. But at the same time, it also exposes firms and economies to intense competitive pressures. Declining terms of trade can result, and in some circumstances this may lead to immiserising growth, that is, an increase in economic activity which delivers lower standards of living.