Two Types of Growth: How Does Structural Transformation Lead to Steady Economic Development?
Two Types of Growth: How Does Structural Transformation Lead to Steady Economic Development?
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两种增长:结构转型如何实现经济平稳发展?
DOI:
10.36348/sjef.2020.v04i01.006
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发表时间:
2020
期刊:
影响因子:
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通讯作者:
Fumihide Takeuchi
中科院分区:
文献类型:
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作者:
Fumihide Takeuchi
This paper examines structural transformation mechanisms in developing countries, focusing on the shift from highproductivity, tradable sectors (agriculture and manufacturing) to low-productivity, service sectors and assesses how these elements contribute to rising income levels. Different relationships exist between countries’ structural transformations and economic development. The first group of countries shows sluggish income growth and rapid growth in services, and the second group of countries shows a more gradual shift to services, resulting in higher economic growth. With a simple, static model, with sector-specific distortion that replicates the actual, two-sector, relative TFP, capital stock and capital share well, we find a gradual increase in capital intensification in the tradable sector, coupled with a gradual shift to services (in line with comparative advantages) is the most important cause of sustained economic growth.
DOI:
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发表时间:
2019
期刊:
Review of Socio-Economic Perspectives
影响因子:
--
作者:
Fumihide Takeuchi
通讯作者:
Fumihide Takeuchi