Description:
This paper develops an empirical measure
of growth poles and uses it to examine the phenomenon of
multipolarity. The authors formally define several
alternative measures, provide theoretical justifications for
these measures, and compute polarity values for nation
states in the global economy. The calculations suggest that
China, Western Europe, and the United States have been
important growth poles over the broad course of world
history, and in modern economic history the United States,
Japan, Germany, and China have had prominent periods of
growth polarity. The paper goes on to analyze the economic
and institutional determinants, both at the proximate and
fundamental level, that underlie this measure of polarity,
as well as compute measures of dispersion in growth polarity
shares for the major growth poles.