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Turn Of The Century The World Economic Structure Changes: The Supply Of Innovative And Symmetrical Breakthrough

Posted on:2005-04-19Degree:DoctorType:Dissertation
Country:ChinaCandidate:H Y LuFull Text:PDF
GTID:1116360125967460Subject:World economy
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The late twentieth century is a different world, In accordance with termination of the cold war and popularization of the new economy and globalization, the world economic structure is in transformation again. "It is natural the main emphasis is on the past of the system, how it seems to have worked, especially during the postwar period. An understanding of the past development is of course a necessary condition for knowledge about its way of operating at present and of making plausible forecasts about the future." How to understand the world economic structural transformation in the dawn of the new millennium correctly? What are the main characteristics of the transformation? What's the internal mechanism of the process? What kind of interaction and impact would be generated between global and Chinese economy, and the latter is obviously in a key phase of reform and opening?The perspective from structuralism is employed in analyzing the world economy and its transformation in the thesis. I claim that supply innovation, which was first proposed by Joseph Schumpeter, was the principal driving force in the process of transformation. If we put the production function Y = AF(K, L) in a global context, it's justified to view the economic structural transformation in three different dimensions as time sequence, space and international division of labor. A is the temporal structure, which stands for changing technology; spatial structure is the geographic scope of economic activities, which could be represented by the supply of production factors, such as K and L. The structure of international division of labor is the combination of those two aforementioned aspects.In 1990s, astonishing changes took place in both time sequence and space structures, namely the emergence of information economy and economic globalization. They contributed to the corresponding transformation in international division of labor, featured in my thesis as a process of symmetry breaking with networked division and market implosion. New economic theoretical framework developed since the 1980s also provides us with more powerful tools in dissecting the phenomena.The main context would be displayed in six chapters. In Chapter One, I'd provide a broad introduction on characteristics of world economic structural transformation in historical context. My primary objective is to place the current period of globalization within a wider historical context. It is clear that the process of economic development and structure transformation, which includes time sequence, space and international division of labor, was never smooth. Among those three different layers of structural transformation, time sequence is the most important determinant factors in influencing and shaping the remaining two structures. Besides, we can also see the scope and quantity of economic activities enlarging and international division of labor deepening in history. All those three structural transformations are induced by supply innovation and symmetry breaking, and manifest the basic characteristic as asymmetry.The second chapter is about neoclassical assumptions and the new theories. Although neoclassical economics is extremely useful in static analysis, it does not provide an adequateVIIconceptual framework for the analysis and understand of economic change and the dynamics of the global economy. Its basic assumption of their studies is the existence of equilibrium, and, unfortunately, history is never about "equilibrium". Moreover, as Paul Krugman has observed, the neoclassical approach to economic affairs lacks both a temporal and a spatial dimension and assumes that economic activities take place in an abstract universe devoid of history and geography. As a consequence, it cannot adequately analyze the historical development or geographical structure of any economy, it has limited applicability to comprehension of the functioning of the economy over time and across space. In recent years, a number of economists have developed new theories that help to compensate for t...
Keywords/Search Tags:Breakthrough
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