Twenty-five years of industrial development. Rise, decline and legacy of globalization

CSC Working paper n.4 2018

Corresponding author: Fabrizio Traù

The paper analyses world industrial development in the course of the Globalisation Age. It focuses on four main issues: i) a retrospective analysis of development processes which characterized the different areas of the world in this period; ii) the rationale for manufacturing activity expansion in the so-called emerging economies; iii) the integration of manufacturing systems at the global level through the creation of international value chains and the expansion of direct investment flows; iv) the origin and main implications of the crisis which hit the world economy at the end of the long economic expansion cycle in the early years of the XXIst century.

JEL Classification: F02; F15; O12; O14; O2

Keywords: Globalisation; Industrial Development; Emerging Countries; Trade in Tasks; Structural Change; Sectoral Concentration; Global Value Chains; Economic Crisis; Industrial Policy.