The next convergence : the future of economic growth in a multispeed world / Michael Spence.

Includes bibliographical references (p. [275]-281) and index.

The global economy and developing countries -- 1950: the start of a remarkable century -- Static views of a changing world -- Postwar changes in the global economy -- The origins of the global economy -- Economic growth -- Common questions about the developing world and the global economy -- Sustained high growth in the developing world -- The high growth developing countries in the post-war period -- The opening of the global economy -- Knowledge transfer and catch-up growth in developing countries -- Global demand and catch-up growth -- The internal dynamics of sustained high growth -- Key internal ingredients of sustained high growth recipes -- Opening up : an issue of speed and sequencing -- The Washington consensus and the role of government -- Managing one's currency in the course of growth -- The middle income transition -- The political, leadership and the governance underpinnings of growth -- Low growth economies in the developing world -- Natural resource wealth and growth -- The challenge for small states -- The adding up problem -- The crisis and its aftermath -- Emerging markets during and after the global crisis -- Instability in the global economy and lessons from the crisis -- Stimulus in the crisis and the need for cooperative behavior -- Rebalancing the global economy and its consequences for growth -- The excess savings challenge in China -- The openness of the global system and the WTO -- Legacies of the crisis : slow growth and sovereign debt issues in advanced countries -- Periodic systemic risk and investment behavior -- The future of growth -- Can the emerging economies sustain high growth? -- China and India -- India's growth, diversification and urbanization -- Brazil's growth reset -- Energy and growth -- The challenge of climate change and developing country growth -- Information technology and the integration of the global economy -- European integration and transnational governance -- Global governance in a multi-speed world -- The G20, the advanced countries and global growth -- Sustaining growth : the second half century of convergence.