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Comparative Advantage And Structural Transformation
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Book Synopsis The Role of Comparative Advantage, Endowments and Technology in Structural Transformation by : Giovanni Dosi
Download or read book The Role of Comparative Advantage, Endowments and Technology in Structural Transformation written by Giovanni Dosi and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this chapter we discuss the role of natural resources and endowment structures on structural change. Departing from theories of trade that stress specialization according to one's comparative advantages as the key route to development, we articulate an alternative point of view on the role of technological learning and absolute advantages for structural transformation. Ricardian adjustment processes relying on endowment-based comparative advantages are often times a misleading driver of development; rather, competitiveness offers a better criterion to achieve sustained economic well-being. This theoretical perspective provides useful guidance to interpret the effects of unbridled globalization and the role of natural resources relative to industrial and trade policies in shaping the process of structural change and economic development.
Book Synopsis Structural Transformation and Comparative Advantage by : Unjung Whang
Download or read book Structural Transformation and Comparative Advantage written by Unjung Whang and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Data from the last half-century show that revealed comparative advantage in agriculture (manufacturing) is negatively (positively) associated with the rate of decline in labour share in agriculture. Motivated by this finding, the author constructs and calibrates a simple open-economy model, where there is learning-by-doing in manufacturing and industry-supplied inputs to agricultural production. This paper focuses on the effects of comparative advantage and learning-by-doing on structural transformation and calibrate the model to the US and the UK data to estimate key parameters of the model. Quantitative experiments show that holding constant other factors a small difference in a country's comparative advantage can account for a large variation in structural transformation for open economies, which does not require nearly as much differential productivity growth as in closed-economy models.
Book Synopsis Structural Transformation and Patterns of Comparative Advantage in the Product Space by : Ricardo Hausmann
Download or read book Structural Transformation and Patterns of Comparative Advantage in the Product Space written by Ricardo Hausmann and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Growth and Structural Transformation by : Kwang Suk Kim
Download or read book Growth and Structural Transformation written by Kwang Suk Kim and published by BRILL. This book was released on 2020-03-17 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Comparative Advantage and Structural Change by : Dani Rodrik
Download or read book Comparative Advantage and Structural Change written by Dani Rodrik and published by . This book was released on 1982 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis New Perspectives on Structural Change by : Ludovico Alcorta
Download or read book New Perspectives on Structural Change written by Ludovico Alcorta and published by Oxford University Press. This book was released on 2021 with total page 743 pages. Available in PDF, EPUB and Kindle. Book excerpt: Here is a comprehensive edited volume that outlines the historical roots and state-of-the-art debates on the role of structural change in the process of economic development, including both orthodox and heterodox perspectives and contributions from prominent scholars in this field.
Author :Philippe Aghion Publisher :London : Department of Economics, University of Western Ontario ISBN 13 :9780771411168 Total Pages :0 pages Book Rating :4.4/5 (111 download)
Book Synopsis A Model of Growth Through Creative Destruction by : Philippe Aghion
Download or read book A Model of Growth Through Creative Destruction written by Philippe Aghion and published by London : Department of Economics, University of Western Ontario. This book was released on 1990 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a model based on Schumpeter's process of creative destruction. It departs from existing models of endogenous growth in emphasizing obsolescence of old technologies induced by the accumulation of knowledge and the resulting process or industrial innovations. This has both positive and normative implications for growth. In positive terms, the prospect of a high level of research in the future can deter research today by threatening the fruits of that research with rapid obsolescence. In normative terms, obsolescence creates a negative externality from innovations, and hence a tendency for laissez-faire economies to generate too many innovations, i.e too much growth. This "business-stealing" effect is partly compensated by the fact that innovations tend to be too small under laissez-faire. The model possesses a unique balanced growth equilibrium in which the log of GNP follows a random walk with drift. The size of the drift is the average growth rate of the economy and it is endogenous to the model ; in particular it depends on the size and likelihood of innovations resulting from research and also on the degree of market power available to an innovator.
Book Synopsis Comparative Advantage and Structural Transformation by : Uma J. Lele
Download or read book Comparative Advantage and Structural Transformation written by Uma J. Lele and published by . This book was released on 1986 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis New Structural Economics by : Justin Yifu Lin
Download or read book New Structural Economics written by Justin Yifu Lin and published by World Bank Publications. This book was released on 2012-01-01 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Oxford Handbook of Structural Transformation by : Célestin Monga
Download or read book The Oxford Handbook of Structural Transformation written by Célestin Monga and published by Oxford University Press, USA. This book was released on 2019-02-14 with total page 741 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis On the Evolution of Comparative Advantage by : Nicola D. Coniglio
Download or read book On the Evolution of Comparative Advantage written by Nicola D. Coniglio and published by . This book was released on 2018 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: The diversification of production and trade is considered almost unanimously a fundamental policy goal, particularly for developing economies whose export baskets are heavily concentrated on a few products. In what direction trade diversification ought to take place is, however, subject to fierce debate. The Product Space (PS) framework (Hausmann and Klinger, 2007; Hidalgo et al. 2007) is a recent contribution in the economic literature that has proved very influential in policy circles. It argues that the endowment of production capabilities (technologies, production factors, institutions etc.) determines what countries produce today but it also constrains what they can produce in the future as it is uncommon that countries develop a comparative advantage in goods that do not draw from the same pool of capabilities (unrelated products). Contributions along such line argue that defying the initial comparative advantage can be a risky policy decision with high probability of failure. The main objective of this contribution is to use a novel methodology to investigate whether the patterns of diversification of a sample of 177 countries over the period 1995-2015 conform or not to the prediction of the PS framework. We find evidence of a high degree of path-dependence but our analysis suggests also that a significant number of new products that entered countries' export baskets were unrelated to the initial productive specialization (path-defying changes). We shed light on the determinants of these 'radical' patterns of diversification and show they are associated with higher economic growth. The results of this study have important policy implications in particular for the design of industrial policies aimed at actively shaping countries' structural transformation.
Book Synopsis Globalisation, Comparative Advantage and the Changing Dynamics of Trade by : OECD
Download or read book Globalisation, Comparative Advantage and the Changing Dynamics of Trade written by OECD and published by OECD Publishing. This book was released on 2011-10-20 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects OECD work that builds on recent contributions to the theory and empirics of comparative advantage, putting particular emphasis on the role policy can play in shaping trade.
Book Synopsis Rethinking Development Policy: Deindustrialization, Servicification and Structural Transformation by : Manoj Atolia
Download or read book Rethinking Development Policy: Deindustrialization, Servicification and Structural Transformation written by Manoj Atolia and published by International Monetary Fund. This book was released on 2018-10-01 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper takes a fresh look at the current theories of structural transformation and the role of private and public fundamentals in the process. It summarizes some representative past and current experiences of various countries vis-a-vis structural transformation with a focus on the roles of manufacturing, policy, and the international environment in shaping the trajectory of structural transformation. The salient aspects of the current debate on premature deindustrialization and its relation to a middle-income trap are described as they relate to the path of structural transformation. Conclusions are drawn regarding prospective future paths for structural transformation and development policies.
Book Synopsis Evolving Comparative Advantage, Sectoral Linkages, and Structural Change by : Michael Sposi
Download or read book Evolving Comparative Advantage, Sectoral Linkages, and Structural Change written by Michael Sposi and published by . This book was released on 2017 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: I quantitatively examine the effects of location-and sector-specific productivity growth on structural change across countries from 1970-2011. The results shed new light on the “hump shape" in industry's share in GDP across levels of development. There are two key features. First, otherwise identical changes in the composition of final demand translate differently into changes in the composition of value added because of systematic differences in sectoral linkages. Second, the mapping between sector-specific productivity and the composition of final demand systematically differs because of the relative importance of two components within final demand: final domestic expenditures and net exports.
Book Synopsis New Structural Economics by : Justin Yifu Lin
Download or read book New Structural Economics written by Justin Yifu Lin and published by World Bank Publications. This book was released on 2012-01-06 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic development is a process of continuous technological innovation and structural transformation. Development thinking is inherently tied to the quest for sustainable growth strategies. This book provides a neoclassical approach for studying the determinants of economic structure and its transformation and draws new insights for development policy. The market is the basic mechanism for effective resource allocation at each level of development. However, economic development as a dynamic process entails structural changes, including industrial upgrading and diversification and corresponding improvements in hard and soft infrastructure. Such upgrading and improvements require coordination and go hand in hand with large externalities to firms' transaction costs and returns to capital investment. Thus, in addition to an effective market mechanism, the government should play an active role in facilitating structural changes. The book provides empirical evidence in support of this framework as well as concrete advice to development practitioners.
Book Synopsis Services Trade and Growth by : Aaditya Mattoo
Download or read book Services Trade and Growth written by Aaditya Mattoo and published by World Bank Publications. This book was released on 2012 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: The competitiveness of firms in open economies is increasingly determined by access to low-cost and high-quality producer services - telecommunications, transport and distribution services, financial intermediation, etc. This paper discusses the role of services in economic growth, focusing in particular on channels through which openness to trade in services may increase productivity at the level of the economy as a whole, industries and the firm. The authors explore what recent empirical work suggests could be done to enhance comparative advantage in the production and export of services and how to design policy reforms to open services markets to greater foreign participation in a way that ensures not just greater efficiency but also greater equity in terms of access to services.
Book Synopsis Dynamics of Structural Transformation: An Empirical Characterization in the Case of China, Malaysia, and Ghana by : Thaddee Badibanga, Xinshen Diao, Terry Roe, Agapi Somwaru
Download or read book Dynamics of Structural Transformation: An Empirical Characterization in the Case of China, Malaysia, and Ghana written by Thaddee Badibanga, Xinshen Diao, Terry Roe, Agapi Somwaru and published by Intl Food Policy Res Inst. This book was released on with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
