The World

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Copyright: 2018
Pages: 35
Source title: Ranking Economic Performance and Efficiency in the Global Market: Emerging Research and Opportunities
Source Author(s)/Editor(s): Benjamen Franklen Gussen (University of Southern Queensland, Australia & Australian Law and Economics Association, Australia)
DOI: 10.4018/978-1-5225-2756-5.ch003

Keywords: Business & Management / Business Science Reference / Economics & Economic Theory / Economics and Economic Theory

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Abstract

We will now look at the general results from the ? model (developed in Chapter II). The chapter examines the overlap between the world-systems theory classification of core and periphery countries and the ? model classification of sink (economically efficient) and source (economically inefficient) countries. Core countries exhibit not only economic complexity but also complex institutions. However, some of these countries, such as Australia and Canada, are not economically efficient, mainly due to their large footprint and low population density. On the other hand, some semi-periphery countries, such as South Korea and Turkey, are economically efficient according to the model.

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