Patterns: Clear and Strong

William W. Lewis

in The Power of Productivity

Published by University of Chicago Press

Published in print April 2004 | ISBN: 9780226476766
Published online February 2013 | e-ISBN: 9780226477008 | DOI:
Patterns: Clear and Strong

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The previous chapters described the economic performance of the rich parts of the world, Japan, Europe, and the United States, the performance of one middle-income country, Korea, and the performance of three poor countries, Brazil, Russia, and India. This chapter brings together the explanation of why countries have the economic performance they do. It discusses patterns by industry across countries. It reviews why labor and capital markets are less important than product markets. It also addresses why education and infrastructure, both high on the World Bank's priority list, are much less important than getting competition right.

Keywords: economic performance; Japan; Europe; United States; Korea; Brazil; Russia; India; product markets; competition

Chapter.  10819 words.  Illustrated.

Subjects: Economic Development and Growth

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