Flowing from one of the ESRC's seven areas of strategic challenge for economic and social research (Global Economic Performance, Policy and Management), the research programme will examine the ways in which markets, institutions and public policies interact to create and sustain competitive advantage in a changing global economy, how such advantage evolves over time and how it influences growth deprivation and wellbeing in both the short and the long run. The central and unifying focal point is managing change, including why this may be problematic, why it is needed, and how well it is implemented with regard to sustaining growth and supporting wellbeing. We will investigate not only what achieves success on average but also what works in particular country settings. We will examine how to realise the benefits of continued success while mitigating the costs.
CAGE will address three big questions which will organise our projects and orientate our research outputs. These are:
- What explains catching-up, forging ahead or falling behind in economic growth over the long run?
- What permits countries to adjust successfully to new opportunities presented to global economic development?
- When does succeeding in the global economy translate into reduced deprivation and enhanced general wellbeing?
The results will extend the existing research frontier with new analytic frameworks, new empirical work, and new policy solutions.