Titlebook: A Modern Economic History of Emerging Markets (1950–2020); Dirigisme, Globaliza Ahmet Akarli Book 2024 The Editor(s) (if applicable) and Th

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https://doi.org/10.1007/978-3-322-85664-7 of structural shocks on the other. In this context, three profoundly challenging forces are emerging, possessing immense disruptive potential at a time when the growth engines of EMEs are beginning to falter: Climate change, demographic stagnation, and endemic economic exclusion all have the capabi

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A Modern Economic History of Emerging Markets (1950–2020)978-3-031-55210-6Series ISSN 2662-6497 Series E-ISSN 2662-6500

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,The Age of Dirigisme (1950–1980): Recovery, Catch Up, and Stagnation,on of the war and experienced consistently strong income growth and convergence rates in the following two decades. A favorable international environment, specifically the stability provided by the Bretton Woods system, provided a strong external impetus for EMEs. However, the main factor driving in

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,The Age of Globalization (2000–2020): The Dizzying Heights,rger swathes of the global economy. This was due to significant advances in technology, deepening global economic and financial integration, and consistent implementation of sounder economic policies over time. Furthermore, the EMEs were able to weather large-scale external shocks relatively well, o

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,The Age of Globalization (2000–2020): The Seeds of Instability,by the crisis resulted in large scale economic inefficiency and retardation of EME income convergence processes, from the late 2010s onwards, most notably in China. The COVID-19 pandemic further aggravated these problems leaving EMEs more susceptible to adverse shocks. In fact, the current EME conju

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,The “Age of Disruption”: The Predicament of Sustainability, of structural shocks on the other. In this context, three profoundly challenging forces are emerging, possessing immense disruptive potential at a time when the growth engines of EMEs are beginning to falter: Climate change, demographic stagnation, and endemic economic exclusion all have the capabi