Premium
The rise of Asia and structural change in the world economy
Author(s) -
Sentance Andrew
Publication year - 1996
Publication title -
economic outlook
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.1
H-Index - 8
eISSN - 1468-0319
pISSN - 0140-489X
DOI - 10.1111/j.1468-0319.1996.tb00083.x
Subject(s) - restructuring , economics , competition (biology) , structural change , face (sociological concept) , world economy , technological change , economic restructuring , economy , international economics , economic system , market economy , macroeconomics , political science , ecology , social science , finance , sociology , law , biology
In this article, Andrew Sentance describes the growing economic importance of Asia and discusses the impact on the world economy. He argues that Western economies face a problem of structural adjustment not only to low‐cost competition from newly industrialised countries but also because of technological changes. Macroeconomic shocks, Single Market restructuring and labour market inflexibility have made this process more difficult in Europe.