Mixed Fortunes: An Economic History of China, Russia, and the West

Hardcover | April 10, 2014

byVladimir Popov

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The rise of the West is often attributed the presence of certain features in Western countries from the sixteenth century onwards such as the abolition of serfdom and protestant ethics, the protection of property rights, and free universities; elements that were absent in more traditionalsocieties. The problem with this reasoning is that, before the 16th century, there were many countries with social structures that possessed these same features that didn't experience rapid productivity growth.This book offers a new interpretation of the "Great Divergence" and "Great Convergence" stories. It explores how Western countries grew rich and why parts of the developing world (South and East Asia and Middle East) did not catch up during the period 1500-1950 but began to prosper after 1950,whereas others (Latin America, South Africa, and Russia) thrived from 1500 to 1950 but have experienced relative slowdown since 1950. Mixed Fortunes offers a novel interpretation of the rise of the West and of the subsequent development of "the rest" and China and Russia, important examples of thesetwo groups of developing countries, are examined in greater detail.

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The rise of the West is often attributed the presence of certain features in Western countries from the sixteenth century onwards such as the abolition of serfdom and protestant ethics, the protection of property rights, and free universities; elements that were absent in more traditionalsocieties. The problem with this reasoning is th...

Vladimir Popov is an Interregional Adviser in the Department of Economic and Social Affairs of the United Nations and professor emeritus at the New Economic School in Moscow. He is also professor at the Graduate School of International Business at the Russian Presidential Academy of the National Economy and Public Administration in Mo...

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Format:HardcoverDimensions:208 pages, 9.21 × 6.14 × 0.98 inPublished:April 10, 2014Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0198703635

ISBN - 13:9780198703631

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Table of Contents

Introduction1. How the West became Rich: Stylized Facts and Literature Review2. Why Did the West Become Rich First? Why Are Some Developing Countries Catching Up But Others Are Not?3. Chinese and Russian Economies Under Central Planning: Why the Difference in Outcomes?4. Chinese and Russian Economies Since Reforms: Transformational Recession in Russia and Acceleration of Growth in China5. Growth Miracles and Failures: Lessons for Development EconomicsConclusions