Core, Semi-Periphery & Periphery

Following world-systems analysis, the ITV panel classifies each economy as core, semi-periphery, or periphery, primarily by income level and structural position. The income hierarchy is large and durable:

And it maps onto distinct external-balance behavior:

The cross-section ties the two together — income on the horizontal axis, the current account on the vertical, each point a country in the latest well-covered year.