Thursday, May 8, 2014

Asian and Latin American shares of world GDP

Reading the April World Economic Outlook (WEO), a biannual IMF publication (more to be posted soon). You can download all the data, which is always useful. Just playing around. Note that in the last decade the share of World GDP produced by advanced economies shrunk from around 80% to approximately 60%.
On the other hand, developing countries expanded from 20% to closer to 40% of World GDP. The fact that China might be the biggest economy in the world has been in the news recently. Note that most of this increase in the periphery is in Asia, which increased from around 7% or so, essentially the same level than Latin America, to 20%, while Latin America (which did expand in the last decade; the graph doesn't show it well because of scale) remains at the same level than 1980, recovering from the lowest point in the 1990s.


  1. Hi Matias,

    did you get the time to have a look at the Bob Murphy paper I linked to?

    1. Murphy's trying to use the capital critique, and post-Keynesian arguments, to attack and undermine Piketty's Capital in the 21st Century. See this for example:

      Rightwingers are scrambling around looking for any argument that they can use to cause confusion and to distract attention...


Bernie Sanders in 1998 on the Global Crisis and the IMF role in it

Old clip from C-SPAN. It's still worth watching. Strong critique of the failures of the IMF and neoliberal policies in leading to the...