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Author:
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ISBN:
Category : Caribbean Area
Languages : en
Pages : 336
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Author:
Publisher:
ISBN:
Category : Caribbean Area
Languages : en
Pages : 336
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Author: Margaret Stokes McMillan
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 32
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Book Description
Large gaps in labor productivity between the traditional and modern parts of the economy are a fundamental reality of developing societies. In this paper, we document these gaps, and emphasize that labor flows from low-productivity activities to high-productivity activities are a key driver of development. Our results show that since 1990 structural change has been growth reducing in both Africa and Latin America, with the most striking changes taking place in Latin America. The bulk of the difference between these countries' productivity performance and that of Asia is accounted for by differences in the pattern of structural change - with labor moving from low- to high-productivity sectors in Asia, but in the opposite direction in Latin America and Africa. In our empirical work, we identify three factors that help determine whether (and the extent to which) structural change contributes to overall productivity growth. In countries with a relatively large share of natural resources in exports, structural change has typically been growth reducing. Even though these "enclave" sectors usually operate at very high productivity, they cannot absorb the surplus labor from agriculture. By contrast, competitive or undervalued exchange rates and labor market flexibility have contributed to growth enhancing structural change.
Author: Kwang Suk Kim
Publisher: BRILL
ISBN: 1684172195
Category : History
Languages : en
Pages : 224
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Book Description
This study provides a comprehensive overview of Korea’s macroeconomic growth and structural change since World War II, and traces some of the roots of development to the colonial period. The authors explore in detail colonial development, changing national income patterns, relative price shifts, sources of aggregate growth, and sources of sectoral structural change, comparing them with other countries.
Author: Jorge M. Katz
Publisher: United Nations Publications
ISBN:
Category : Business & Economics
Languages : en
Pages : 164
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Book Description
In the last ten to fifteen years, profound structural reforms have moved Latin America and the Caribbean from closed, state-dominated economies to ones that are more market-oriented and open. Policymakers expected that these changes would speed up growth. This book is part of a multi-year project to determine whether these expectation have been fulfilled. Focusing on technological change, the impact of the reforms on the process of innovation is examined. It notes that the development process is proving to be highly heterogenous across industries, regions and firms and can be described as strongly inequitable. This differentiation that has emerged has implications for job creation, trade balance, and the role of small and medium sized firms. This ultimately suggests, amongst other things, the need for policies to better spread the use of new technologies.
Author:
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Category :
Languages : en
Pages : 0
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Author: Saumik Paul
Publisher: Brookings Institution Press
ISBN: 4899741006
Category : Business & Economics
Languages : en
Pages : 0
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Simon Kuznets’ views about the inverted-U relationship between inequality and development and the process of structural transformation have long been under the lens of researchers. Over the last 20 years, immense potential for growth in Asia has been facilitated by structural transformation. However, it remains undecided whether the contribution of structural transformation will stay as a crucial factor in determining potential productivity growth and income distribution. This book brings together novel conceptual frameworks and empirical evidence from country case studies on topics related to structural transformation, globalization, and income inequality.
Author: Alistair Dieppe
Publisher: World Bank Publications
ISBN: 1464816093
Category : Business & Economics
Languages : en
Pages : 552
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Book Description
The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD
Author: Min Zhu
Publisher: International Monetary Fund
ISBN: 1513515357
Category : Business & Economics
Languages : en
Pages : 46
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Book Description
China’s growth potential has become a hotly debated topic as the economy has reached an income level susceptible to the “middle-income trap” and financial vulnerabilities are mounting after years of rapid credit expansion. However, the existing literature has largely focused on macro level aggregates, which are ill suited to understanding China’s significant structural transformation and its impact on economic growth. To fill the gap, this paper takes a deep dive into China’s convergence progress in 38 industrial sectors and 11 services sectors, examines past sectoral transitions, and predicts future shifts. We find that China’s productivity convergence remains at an early stage, with the industrial sector more advanced than services. Large variations exist among subsectors, with high-tech industrial sectors, in particular the ICT sector, lagging low-tech sectors. Going forward, ample room remains for further convergence, but the shrinking distance to the frontier, the structural shift from industry to services, and demographic changes will put sustained downward pressure on growth, which could slow to 5 percent by 2025 and 4 percent by 2030. Digitalization, SOE reform, and services sector opening up could be three major forces boosting future growth, while the risks of a financial crisis and a reversal in global integration in trade and technology could slow the pace of convergence.
Author: Mayuko Kondo
Publisher:
ISBN:
Category : Electronic dissertations
Languages : en
Pages : 168
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Structural transformation and corresponding labor productivity growth are fundamentals of economic development. This dissertation, titled Structural Transformation from A Microeconomic View, explores the path of the structural transformation in Sub-Saharan Africa (SSA). In the last 20 years in SSA, structural transformation was not always accompanied by overall labor productivity growth. The first essay of this dissertation, titled Education, Profitability, and Household Labor Allocation in Rural Uganda, explores the microeconomic factors that explain non-growing-productivity structural change with a focus on the role of education. I jointly estimate household hourly profit (wage) and labor supply functions. The estimation result is supportive of the hypothesis that the level of education, profitability of an activity, and time allocation to that activity can be not positively correlated while education positively increases total household profit from the activity. To trigger structural transformation, the governments of SSA and donors have allocated a vast amount of resources into agricultural programs for over 20 years. Aggregate agriculture productivity, however, has shown little growth in the last 20 years. Yet the share of employment in agriculture has constantly decreased since 2000. Whether agriculture productivity growth advances the labor shift from the agriculture sector to the non-agriculture sector is still an open question and of great interest for efficient investment in agriculture development and the economic growth of the countries. The second essay, titled Land and Labor Bias of Farm Technology and the Household's Labor Allocation Decisions, explores the effect of land- and labor-augmenting farm technologies on the household's labor decisions. I provide a theoretical model to describe the household responses to land- and labor-augmenting farm technical change. I classify agricultural households into six regimes based on the participation in on- and off-farm labor markets and the constraint of off-farm work opportunities. I derive propositions to examine the behaviors of the households in each regime. In the empirical part of the study, I apply the model to microeconomic data from Tanzania to test the propositions. The estimation results show that for Tanzanian maize farmers, the adoption of land-augmenting technology, that is organic fertilizer, inorganic fertilizer, or irrigation, increases on-farm labor and decreases off-farm labor while the adoption of labor-augmenting technology, including sprayers, pesticides, herbicides, animal traction, or tractors, decreases on-farm labor and increases off-farm labor when the elasticity of substitution between labor and land is sufficiently large. Taken together, these essays shed light on important policy implications for the acceleration of structural transformation in SSA. The estimation result from the first essay suggests that the expansion of the industry in which higher levels of education increase profitability of work would pull laborers from farming into nonfarm activities. Relaxing the labor market constraints of individuals, especially from relatively less educated households, would shift hours of labor allocation from less profitable activities towards more profitable activities. Also, raising household incomes or standard of living would increase the preference of individuals for leisure relative to income, and increase the optimal marginal productivity of labor, and consequently the profitability of labor. The second essay provides evidence that depending on the conditions of a country such as the level of elasticity of substitution between land and labor and the constraints around off-farm work opportunities, labor-augmenting agricultural technologies have a good potential for speeding up the structural transformation.
Author: Paul Gaggl
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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This paper studies structural change in production networks for intermediate inputs (input-output network) and new capital (investment network). For each network, we document a declining fraction of production by goods sectors and a rising fraction of production by services sectors. We develop a multisector growth model that admits structural change in production networks along the balanced growth path to study these trends. Disaggregated final expenditure data reveal that inputs to investment production are substitutes, rather than strong complements as suggested by existing work. Hence, resources endogenously reallocate toward the fastest growing producers of investment. Growth accounting exercises demonstrate that investment-specific technical change has risen in importance for aggregate U.S. growth over time, with 20-25% of aggregate growth after 2000 stemming from reallocation induced by structural change. At the same time, productivity growth within the input-output network has stagnated, contributing to the recent slowdown in aggregate growth.
