SouthSouth Trade and Finance in the Twenty-First Century: Rise of the South or a Second Great Divergence

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The last two-three decades have seen a dramatic rise in SouthSouth economic relations, yet no book exists that systematically examines these changes in the global economy. Most studies on SouthSouth relations focus on regionalism, that is regional integration in South America, preferential trading agreements, or ChinaAfrica relations. While studies/books on SouthSouth trade existed in the 1970s and 1980s, the new round of SouthSouth linkages has not been covered. In addition to filling this gap, this book also includes a historical, theoretical, and empirical examination that attempts to both place current SouthSouth relations within their historical trajectory and examine in what ways current SouthSouth relations differ from previous attempts ('new-regionalism'), especially that most of the previous discussions took place under the Import Substitution Industrialization or relatively protectionist era. The book contains rigorous empirical analysis of trade and finance to uncover the developmental implications of SouthSouth trade and finance. Finally, the book engages with the burgeoning "new-developmentalism" to discuss how SouthSouth economic integration and the rise of the South as an economic power and as an actor in multinational institutions both benefits and harms the developmental opportunities for poor and middle income South countries.

Author Bio

Omar S. Dahi is associate professor of economics at Hampshire College. Specializing in economic development and international trade, Dahi has published in various journals including Journal of Development Economics, Applied Economics, Southern Economic Journal, Middle East Report and Forced Migration Review.

Frat Demir is associate professor of economics at the University of Oklahoma. Specializing in economic development and open economy macroeconomics, Demir has published in various journals including Development and Change, Journal of Development Economics, Journal of Development Studies, Review of Radical Political Economics, Southern Economic Journal and World Development. He was a Fulbright Fellow in Montenegro in 2015-2016.