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Author: Niclas Moneke
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ISBN:
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Languages : en
Pages :
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Author: Niclas Moneke
Publisher:
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Languages : en
Pages :
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Author: Fidel Perez Sebastian
Publisher:
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Category :
Languages : en
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This study argues that public infrastructure is an important though previously neglected driving mechanism of the structural transformation process. To assess its significance quantitatively, this study first develops a multisector neoclassical growth model with heterogeneous firms, where public infrastructure contributes to firms' production and mitigates the barriers to firms' entry. The model is calibrated using data from Brazil, a country that has significantly expanded its infrastructure in recent decades, yet remains in deep need of further infrastructure improvements. The accumulation of infrastructure accelerates the structural transformation through generating higher returns and lowering entry costs in sectors with greater public capital intensity. In the simulations, public capital formation explains about 15 percent of the process. The paper also shows the effects of different barriers to public capital formation on the structural transformation and GDP per capita.
Author: Célestin Monga
Publisher: Oxford University Press, USA
ISBN: 0198793847
Category : Economic development
Languages : en
Pages : 741
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The Oxford Handbook of Structural Transformation addresses the economics of structural transformation around the world. It deals with major themes, which include history and context, critical issues and concepts, methodological foundations, main theoretical approaches, policy issues, some illuminating country experiences of structural transformation, and important debates on the respective roles of the market and the state in that process. The historical record provides a challenge for economists to understand the success of the rising economic powers (some of them initially considered unlikely candidates for prosperity) and the stagnation or decline of others. Five major questions emerge: DT Why has so much divergence occurred among nations of the world since the Industrial Revolution, and particularly during the 20th century? DT Why has the pattern changed recently with the emergence of a few developing economies (e.g. the multi-polar world), and can it be sustained? DT What are the key drivers, strategies, and policies, to foster structural transformation in various different country contexts and in a constantly evolving global economy? DT How could low- and middle-income countries avoid development traps and learn from past experiences whilst exploiting the new opportunities offered by the Fourth Industrial Revolution? DT What is the role of various development stakeholders and other important players in facilitating sustained economic convergence among nations? This book addresses these questions, bringing the rigor, usefulness, and multi-disciplinary scope of the Oxford Handbook series to a critical topic in economics. The Oxford Handbook of Structural Transformation is an essential reference work and a stimulus to new research and creativity across all branches of the social sciences.
Author: Nicholas Olwor
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Structural Change is seen by development economics theorists as a driver of sustained and sustainable growth. African countries that have understood this prioritize structural change policies in their national development programs in order to reduce poverty and promote employment through commodity-based industrialization. How does infrastructure contribute to this process? Infrastructure is core to the growth process in different regions across the globe.Infrastructure is crucial to a country's growth process by initiating the process of industrialization. In the last two decades, the EAC Partner States, Uganda inclusive have devoted more resources towards infrastructure development, however, growth remains low and below the 10 % targeted in Uganda in Vision 2040.The purpose of this study is to highlight and explore what is understood and not understood about the linkage between infrastructure and economic growth and implications on growth of the Ugandan economy. The importance of these infrastructures toward economic growth is observed through availing employment opportunities to people carrying out the activity of construction and maintenance and manufacturing. Also improved infrastructure greatly improves accessibility as well as linking up markets. This is motivated in a way that factors of production are easily moved from one location to another and across borders, consequently improving the country's competitivenessThe study looked at the effects of big push infrastructure investments on structural transformation and economic development in the context of Uganda over the period 2015 to 2021. Uganda represents a recent, prime example of rapid infrastructure expansions that, given their large scale and extent, appear worthy of designation as big push investments. Uganda provides almost ideal study setting for several reasons: first, the country experienced large scale investment in two separate kinds of infrastructure, namely all-weather roads and electricity network. Exploiting differences in the sequencing of these two infrastructure expansions allowed me to study both the individual effect (of roads) and the interaction effects (of roads and electricity).The study empirically estimated a production function linking economic growth to infrastructure stock, labor and non-infrastructure capital as inputs. The analysis was based on the PMG estimator to address any heterogeneity issues that could arise. The results reveal the existence of a long term equilibrium relationship between economic growth, infrastructure, capital and labor force, hence, the choice of PMG estimator. Specifically, the results demonstrate that infrastructure development has a positive effect on growth of Uganda during the 2015-2021. However, the results show that the impact of infrastructure stock on growth is evident in the long term but not in the short term. This is because the benefits of infrastructure development take time to be realized. For the regions in Uganda, this is realized after about 2 years with an output elasticity of infrastructure stock of 0.20.Estimates from the augmented production function show that capital stock positively affects real GDP per capita in the long term. It was estimated that output elasticity of capital stock was 0.24, clearly demonstrating the important role of capital accumulation in the growth process. The short run effect of capital stock was positive but not realistically significant, implying that capital accumulation takes time and most of the capital investments have long gestation periods, hence, little effect on growth in the short run.The results also confirmed that labor force is among key factors to Uganda's growth. There was a positive link between labor force and economic growth both in the short run and long run. The output elasticity of labor was estimated at 0.60 in the long run. This is because Uganda is still developing and rely mainly on labor intensive techniques of production and therefore labor forms an important input in the production process.A uni-directional causality exists between infrastructure stock and growth in Uganda. This implies that accumulation of infrastructure explains growth in Uganda but not vice versa. Theoretically, this is justifiable as infrastructure stock (transport, energy and communication infrastructure) are considered as basic inputs in the production process. Consequently, building more roads, construction of railway lines, increasing the installed capacity of electricity generation and more communication infrastructure are expected to promote economic growth in Uganda. The results are in line with a previous study by Sahoo et al. (2010).The study confirms a positive contribution of infrastructure stocks to economic growth using PMG estimation technique. However, in the short run, infrastructure development does not significantly influence Uganda's growth. Significant effect on growth is only experienced in the long term. Therefore, from the findings of this study, a long run relationship exists between infrastructure stock and economic growth in Uganda.
Author: Célestin Monga
Publisher: Oxford University Press
ISBN: 0192512684
Category : Business & Economics
Languages : en
Pages : 608
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Book Description
The Oxford Handbook of Structural Transformation addresses the economics of structural transformation around the world. It deals with major themes, which include history and context, critical issues and concepts, methodological foundations, main theoretical approaches, policy issues, some illuminating country experiences of structural transformation, and important debates on the respective roles of the market and the state in that process. The historical record provides a challenge for economists to understand the success of the rising economic powers (some of them initially considered unlikely candidates for prosperity) and the stagnation or decline of others. Five major questions emerge: · Why has so much divergence occurred among nations of the world since the Industrial Revolution, and particularly during the 20th century? · Why has the pattern changed recently with the emergence of a few developing economies (e.g. the multi-polar world), and can it be sustained? · What are the key drivers, strategies, and policies, to foster structural transformation in various different country contexts and in a constantly evolving global economy? · How could low- and middle-income countries avoid development traps and learn from past experiences whilst exploiting the new opportunities offered by the Fourth Industrial Revolution? · What is the role of various development stakeholders and other important players in facilitating sustained economic convergence among nations? This book addresses these questions, bringing the rigor, usefulness, and multi-disciplinary scope of the Oxford Handbook series to a critical topic in economics. The Oxford Handbook of Structural Transformation is an essential reference work and a stimulus to new research and creativity across all branches of the social sciences.
Author: Dorosh, Paul A., ed.
Publisher: Intl Food Policy Res Inst
ISBN: 0896296911
Category : Political Science
Languages : en
Pages : 520
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Book Description
Ethiopia has experienced impressive agricultural growth and poverty reduction, stemming in part from substantial public investments in agriculture. Yet, the agriculture sector now faces increasing land and water constraints along with other challenges to growth. Ethiopia’s Agrifood System: Past Trends, Present Challenges, and Future Scenarios presents a forward-looking analysis of Ethiopia’s agrifood system in the context of a rapidly changing economy. Growth in the agriculture sector remains essential to continued poverty reduction in Ethiopia and will depend on sustained investment in the agrifood system, especially private sector investment. Many of the policies for a successful agricultural and rural development strategy for Ethiopia are relevant for other African countries, as well. Ethiopia’s Agrifood System should be a valuable resource for policymakers, development specialists, and others concerned with economic development in Africa south of the Sahara.
Author: McMillan, Margaret
Publisher: Intl Food Policy Res Inst
ISBN: 0896292142
Category : Political Science
Languages : en
Pages : 323
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Author: Antonio Andreoni
Publisher: Oxford University Press
ISBN: 0192894315
Category : Business & Economics
Languages : en
Pages : 411
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Taking South Africa as an important case study of the challenges of structural transformation, the book offers a new micro-meso level framework and evidence linking country-specific and global dynamics of change, with a focus on the current challenges and opportunities faced by middle-income countries.
Author: Justin Yifu Lin
Publisher: World Bank Publications
ISBN: 0821389572
Category : Business & Economics
Languages : en
Pages : 389
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Book Description
This book provides an innovative framework to analyze the process of industrial upgrading and diversification, a key feature of economic development. Based on this framework, it provides concrete advice to development practitioners and policy makers on how to unleash a country's growth potential.
Author: Justin Yifu Lin
Publisher: Cambridge University Press
ISBN: 1316943216
Category : Business & Economics
Languages : en
Pages : 281
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Book Description
Developing countries have for decades been trying to catch up with the industrialized high-income countries, but only a few have succeeded. Historically, structural transformation has been a powerful engine of growth and job creation. Traditional development aid is inadequate to address the bottlenecks for structural transformation, and is hence ineffective. In this book, Justin Yifu Lin and Yan Wang use the theoretical foundations of New Structural Economics to examine South-South development aid and cooperation from the angle of structural transformation. By studying the successful economic transformation of countries such as China and South Korea through 'multiple win' solutions based on comparative advantages and economy of scale, and by presenting new ideas and different perspectives from emerging market economies such as Brazil, India and other BRICS countries, they bring a new narrative to broaden the ongoing discussions of post-2015 development aid and cooperation as well as the definitions of aid and cooperation.
