First prize in The 1993 Amex Bank Review Awards, an essay competition run by American Express Bank Ltd in memory of Professor Robert Marjolin. Co-written with Richard Brown
“The World Economy is experiencing two major structural shifts. The first is a sectoral shift within the OECD countries away from manufacturing towards the service sector. The impact of this on manufacturing jobs in the OECD will be exacerbated by a geographical shift, the consequence of the growing comparative advantage of developing countries in producing manufacturing goods. Thus deindustrialisation in many rich countries looks set to intensify. Does this matter?”
Click here for PDF of winning essay
Pages 6-20 of The Amex Bank Review: Prize Essays in memory of Robert Marjolin. Finance and the International Economy: 7 edited by Richard O’Brien and published by Oxford University Press for The Amex Bank Review in 1993. Reproduced with permission of Oxford University Press
Full publication of the eight prize winning essays available for purchase here