Title SUBTITLE Gresham College字幕格雷沙姆学院.pptVIP

? Centre for Economics and Business Research ltd Douglas McWilliams, Mercers’ School Memorial Gresham Professor of Commerce September 2012 Introduction: The Greatest Ever Economic Change Inaugural Professorial Lecture Objectives To introduce my Gresham lecture series and show how the industrialisation of the emerging economies compares with other previous major economic changes Overview The theme of the lecture series Background – my master’s thesis on the first two electronics plants in the Kuala Lumpur area Growth in the smaller emerging economies of East Asia Japan – the outlier Comparison with the so-called discovery of the Americas Comparison with the industrial revolution Sneak preview of key points from the next 5 lectures My master’s thesis 1973 First two electronics plants in the Kuala Lumpur area Texas Instruments and Motorola Set in export duty free zones 60% of local expenditure was net social gain to the Malaysian economy using World Bank criteria for cost benefit analysis Payoff periods 10 and 12 months respectively MY CONCLUSION WAS THAT THERE WOULD BE MUCH MORE OF THIS SORT OF INVESTMENT Smaller East Asian economies* share of world GDP (using the Maddison measure) * Asean plus Taiwan Maddison Data Archive at the Groningen Growth and Development Center at Groningen University Japan share of world GDP (using the Maddison measure) Maddison Data Archive at the Groningen Growth and Development Center at Groningen University China’s share of world GDP (using the Maddison measure) Maddison Data Archive at the Groningen Growth and Development Center at Groningen University The greatest ever economic change? Criteria Impact on world GDP growth Impact on GDP per capita Impact on changing economic advantage Impact on pressure on natural resources The ‘discovery’ of the Americas Columbus sailed in 1492 Massive movement of population, mainly from Europe Importation of many new plants and substances to Europe Genocide and conquest of indigenous peoples Impac