Economic growth across countries during the last 30 years or so has displayed 'dual' divergence between developed and developing countries, and among developing countries. The structural transformation has been either slow or of an anomalous nature. The study addresses these and suggests how they can catch-up with developed world.

Mohan L. Lakhera, a former member of the Indian Economic Service, has had a distinguished academic and professional career, contributing papers to leading economic journals and winning several awards. He has held advisory positions in different ministries of the Government of India including that of Economic Advisor. He was a fellow at the School of Economics, Nagoya University and Institute of Developing Economies, Tokyo, Japan. He has also held several academic positions as a researcher, professor and visiting faculty at several academic institutions. His earlier book Japanese FDI Flows in Asia: Perspectives and Challenges was published by Palgrave in 2008.