Essays On Structural Transformation Trade And Economic Growth

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Essays on Structural Transformation, Trade, and Economic Growth

Author : Zongye Huang
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (948 download)

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Book Synopsis Essays on Structural Transformation, Trade, and Economic Growth by : Zongye Huang

Download or read book Essays on Structural Transformation, Trade, and Economic Growth written by Zongye Huang and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "This thesis intends to address questions that are related to structural transformation, trade, and economic growth. The following three essays sequentially investigate three interesting topics that involve these themes. The first essay investigates the structural transformation in the United States from 1950 to 2005. In particular, we emphasize the role of trade in this process. We develop and calibrate a three-sector model to evaluate the contributions of various factors. It shows that, in addition to traditional explanations, such as non-homothetic preference and sector-biased productivity progress, international trade is another major source of structural change and is able to explain about 35.5 percent of the overall labor share decrease in American manufacturing. A further decomposition exercise estimates that inter-sector trade makes a moderate contribution, while trade imbalances dominate the trade channel and account for the recent contraction of employment in the U.S. manufacturing sector. This result supports the argument that persistent trade deficits have a substantial impact on labor allocations.The second essay analyzes the connection between two key variables, the manufacturing employment share and the investment rate, during economic development. Empirical observations document that both of them exhibit a hump-shaped pattern as income increases. Following the recent research on agricultural technology adoption, I propose that the modernization of agriculture is the primary mechanism that forms these two hump-shaped patterns simultaneously, thus, unbalanced technology growth is unnecessary to derive such a hump-shaped pattern. This simple cause helps to explain the similarity of structural transformation processes across countries. The long-run equilibrium of our model is on a generalized balanced growth path as defined by Kongsamut, Rebelo, and Xie (2001). In the third essay, we explore the interaction between trade and growth. In particular, we assume that the information of advanced technology is embodied within high-quality capital goods, which are produced by developed economies. Thus, international technology diffusion goes through the channel of trading high-quality capital goods, which establishes a direct causal linkage from trade to growth. The capital import is subject to the balance of payments constraint and must be financed by exports. We develop a formal two-country model, characterize the steady states, and discuss their dynamic features. Our model could shed light on several stylized facts." --

Essays on International Trade and Economic Development

Author : Zhimin Li
Publisher :
ISBN 13 :
Total Pages : 116 pages
Book Rating : 4.:/5 (16 download)

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Book Synopsis Essays on International Trade and Economic Development by : Zhimin Li

Download or read book Essays on International Trade and Economic Development written by Zhimin Li and published by . This book was released on 2018 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three chapters regarding international trade and economic development. In the first two chapters I explore how China’s economic rise to the global stage affects resource allocations inside and outside the country, and in the third chapter I present a new method to infer risk sharing regimes pertinent to studying consumption behavior in developing countries. The first chapter studies how the "China shock"--the remarkable growth in China's productivity and trade activities since its accession to the World Trade Organization (WTO)--affects China's labor market and real exchange rate dynamics. I apply a dynamic trade and spatial equilibrium model to jointly explain two distinctive features of China's economic growth: the structural transformation, as characterized by the reallocation of labor from agriculture to manufacturing and services, and the sluggish appreciation of the real exchange rate, a puzzle from the perspective of a standard international economics model. The model highlights the role of the subsistence sector in shaping the patterns of the structural transformation and real exchange rate dynamics. Using inter-regional trade and migration data, I calibrate the model to decompose the ``China shock" into productivity shocks and trade shocks and show that the two features above arise naturally from the interaction between the labor market and observed shocks to productivity and trade costs. I find that while productivity growth is the primary source of the structural transformation, the accession to the WTO explains about 35% of the rise in the employment share and 20% of the increase in the real wage in the manufacturing sector. Welfare gains from the "WTO entry" are 27% on average and would be larger if complemented by relaxing labor restrictions further. By accounting for trade costs, the subsistence sector, and labor market frictions, the model generates dynamics for China's real exchange rate consistent with the data. The second chapter studies the effects of real estate investments by foreign Chinese on local economies in the United States. This chapter is co-authored with Leslie S. Shen and Calving Zhang. We document an unprecedented surge in housing purchases by foreign Chinese in the US over the past decade and analyzes their effects on US local economies. Using transaction-level data on housing purchases, we find that the share of purchases by foreign Chinese in the California real estate market increased more than tenfold during the period of 2007-2013 relative to earlier years. In particular, these purchases have been concentrated in zip codes that are historically populated by ethnic Chinese, making up for more than 10\% of the total real estate transactions in these neighborhoods in 2013. We exploit the cross-sectional variation in the concentration of Chinese population settlement across zip codes during the pre-sample period to instrument for the volume of housing purchases by foreign Chinese. Our results show that housing purchases by foreign Chinese significantly increased local housing prices as well as local employment. Our evidence highlights the role of foreign investments in local employment, especially in times of economic downturns. The third chapter proposes a novel approach to test alternative theories of risk sharing--full insurance, self-insurance, and private information--in a unified framework. Given the prevalence of informal insurance in developing countries to share consumption risks, studying risk sharing regimes is important. A distinguishing feature of the framework presented in this chapter is that it accounts for aggregate shocks and does not require data on interest rates, an important advantage for studying rural economies. Applying the approach to a longitudinal dataset from Tanzania, I reject models of full insurance and private information and find evidence of self-insurance. An incorrect inference on the insurance regime could underestimate the welfare loss from risk by as much as ten times.

Structural Change and Economic Growth

Author : Luigi L. Pasinetti
Publisher : Cambridge University Press
ISBN 13 : 9780521236072
Total Pages : 336 pages
Book Rating : 4.2/5 (36 download)

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Book Synopsis Structural Change and Economic Growth by : Luigi L. Pasinetti

Download or read book Structural Change and Economic Growth written by Luigi L. Pasinetti and published by Cambridge University Press. This book was released on 1981-04-16 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1981 this book presents an original theoretical treatment of the problems of maintaining full employment in a multisector economic system with a growing population and different rates of technical progress in different sectors. The conditions for full employment and full capacity utilisation are examined when prices are stable and when there is inflation. This approach is carried out, not in terms of input-output relations, as has become customary in multisector models, but rather in terms of vertically integrated sectors. This makes it possible to analyse the economic growth process in terms of the structural dynamics of production, of prices and of employment. Remarkable implications are drawn for a surprisingly large number of theoretical problems, which have been under discussion since Adam Smith: from price theory to the theory of rates of profit and the rates of interest; from production theory to the theories of fluctuating growth, ever-changing composition of output, choice of technique and international trade.

Southeast Asia (Routledge Revivals)

Author : Richard Higgott
Publisher : Routledge
ISBN 13 : 1134621485
Total Pages : 321 pages
Book Rating : 4.1/5 (346 download)

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Book Synopsis Southeast Asia (Routledge Revivals) by : Richard Higgott

Download or read book Southeast Asia (Routledge Revivals) written by Richard Higgott and published by Routledge. This book was released on 2013-10-31 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: The articles in this edited collection, first published in 1985, consider the competing theories of the nature of development and underdevelopment in Southeast Asia. Each chapter challenges the academic orthodoxies and dominant traditions of Southeast Asian studies, particularly in relation to orientalist history, behaviourist political science and development economics. Overall, the contributions offer an alternative framework for analysis, which considers the structural changes to the political economy of Southeast Asia, as well as the relationship between the state, economy and class at a domestic level. This is a fascinating collection, of value to students and academics with an interest in Southeast Asian politics, economics and history.

The Oxford Handbook of Structural Transformation

Author : Célestin Monga
Publisher : Oxford University Press
ISBN 13 : 0192512684
Total Pages : 608 pages
Book Rating : 4.1/5 (925 download)

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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. This book was released on 2019-02-06 with total page 608 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: · 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.

Openness for Prosperity

Author : Herbert Giersch
Publisher : MIT Press
ISBN 13 : 9780262071482
Total Pages : 372 pages
Book Rating : 4.0/5 (714 download)

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Book Synopsis Openness for Prosperity by : Herbert Giersch

Download or read book Openness for Prosperity written by Herbert Giersch and published by MIT Press. This book was released on 1993 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: Demonstrates the essential connection between theoretical academic research and the creation of economic policy, reflecting his belief that the study of economics should lead to improvement of the social order and of the quality of human life. Herbert Giersch is one of Germany's most prominent economists and an outstanding contributor to the debate on European economic policy. Openness for Prosperity brings together his major essays in macroeconomic policy, written or published over the past two and a half decades. In these twenty nontechnical essays, Giersch clearly demonstrates the essential connection between theoretical academic research and the creation of economic policy, reflecting his belief that the study of economics should lead to improvement of the social order and of the quality of human life. Some of the policy positions that Giersch favors are free trade, limits to government, and openness of economies to future possibilities.The chapters are arranged in two parts with the first focusing on economic growth and structural change and the second on issues of monetary policy, inflation, and exchange rates. The essays are arranged chronologically according to the dates of publication or writing to suggest how topics and emphases have changed over time.The first part, reflecting Giersch's support of Schumpeter's views, includes essays on aspects of growth, protectionism in foreign trade, the role of entrepreneurship in the 1980s, prospects and problems for European economic integration in the 1990s, the lessons to be learned from West Germany's transition to a market economy, and the author's vision of the European and world economies at the end of this century. In the second part, essays address such issues as flexible exchange rates, indexation, IMF surveillance over exchange rates, neglected aspects of inflation, the effect of central bank independence on monetary policy, and the relationship between real exchange rates and comparative economic growth.

Innovation, Economic Development and Policy

Author : Jan Fagerberg
Publisher : Edward Elgar Publishing
ISBN 13 : 1788110269
Total Pages : 431 pages
Book Rating : 4.7/5 (881 download)

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Book Synopsis Innovation, Economic Development and Policy by : Jan Fagerberg

Download or read book Innovation, Economic Development and Policy written by Jan Fagerberg and published by Edward Elgar Publishing. This book was released on 2018-04-27 with total page 431 pages. Available in PDF, EPUB and Kindle. Book excerpt: This authoritative and enlightening book focuses on fundamental questions such as what is innovation, who is it relevant for, what are the effects, and what is the role of (innovation) policy in supporting innovation-diffusion? The first two sections present a comprehensive overview of our current knowledge on the phenomenon and analyse how this knowledge (and the scholarly community underpinning it) has evolved towards its present state. The third part explores the role of innovation for growth and development, while section four is concerned with the national innovation system and the role of (innovation) policy in influencing its dynamics and responding to the important challenges facing contemporary societies.

Trends of Economic Development in East Asia

Author : Wolfgang Klenner
Publisher : Springer Science & Business Media
ISBN 13 : 3642739075
Total Pages : 542 pages
Book Rating : 4.6/5 (427 download)

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Book Synopsis Trends of Economic Development in East Asia by : Wolfgang Klenner

Download or read book Trends of Economic Development in East Asia written by Wolfgang Klenner and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 542 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic success achieved in the last decade in East Asia has brought about a fundamental reorientation in the Western view of the region. In order to contribute to a better understanding of present events and future developments in the area, leading East Asia economists and men of experience in Asian business from Asia, America, and East and West Europe have written papers on their research or business fields for this volume. The individual articles deal with problems common to the East Asian region and the Pacific area as well as with specific economic problems of Japan, China and South Korea. The volume is divided into four parts: East Asia and the Pacific Basin includes articles on supra-national issues, for example on the international economic relations of Japan, China, Taiwan and Korea. Japan includes articles on Japanese industrial and business structure, technological policy, exports and other issues. China includes articles on structural change, economic reforms, fiscal policy, agriculture and other issues. Korea includes articles on economic and industrial policy, restructuring, protectionism and other issues. The occasion of the publication of this volume is the 70th birthday of Willy Kraus, who for many years has been actively concerned with the questions of development in the East Asian region.

Essays on the Effects of International Trade on Labor Markets and Economic Growth

Author : Fabian Guenter Werner Trottner
Publisher :
ISBN 13 :
Total Pages : 220 pages
Book Rating : 4.6/5 (624 download)

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Book Synopsis Essays on the Effects of International Trade on Labor Markets and Economic Growth by : Fabian Guenter Werner Trottner

Download or read book Essays on the Effects of International Trade on Labor Markets and Economic Growth written by Fabian Guenter Werner Trottner and published by . This book was released on 2020 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: I study how international trade affects labor market outcomes and economic growth. In the first chapter, I study how international trade affects wage inequality within and between firms. Using matched employer-employee data from Germany, I document that the firm-size wage premium is higher for skilled compared to less-skilled workers and that larger firms disproportionately employ more skilled workers. I show, using a new quantitative framework, that non-homothetic production and monopsonistic competition in labor markets can rationalize these reduced-form findings. To estimate the model, I propose a new econometric method to identify non-homotheticity in the presence of upward-sloping labor supply curves separately. Counterfactual exercises quantitatively show that the mechanism implies sizeable distributional effects of trade. The second chapter, co-authored with Yann Koby, combines reduced-form evidence with a new model of a dynamic multi-country and multi-sector economy to study the link between trade and structural transformation. The model accounts for major drivers of structural change—including sector-biased technological change and income effects, as well as technological and factor-driven motives for trade. We provide a characterization of the existence and uniqueness of the equilibrium. We quantify the model to the years 1995 to 2011 and then use it to discuss the decline in U.S. manufacturing and the role of service trade in influencing employment in the manufacturing sector. The third chapter, co-authored with Bastian Krieger, studies the effect of trade in services on firms' innovation activities. We combine unique micro-data from Germany with a simple theory of international trade and innovation to provide causal evidence that trade in innovation services increases innovative activities in firms, accounting for market size and competition effects of trade integration.

Essays on Industrial Policy, Structural Change, and International Trade

Author : Till Ferdinand Hollstein
Publisher :
ISBN 13 :
Total Pages : 103 pages
Book Rating : 4.:/5 (18 download)

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Book Synopsis Essays on Industrial Policy, Structural Change, and International Trade by : Till Ferdinand Hollstein

Download or read book Essays on Industrial Policy, Structural Change, and International Trade written by Till Ferdinand Hollstein and published by . This book was released on 2018 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of the thesis is to investigate the impact of patterns of trade on the structural composition of an economy. We show that trade affects an economy's productivity by shifting labor across broad sectors and reallocating resources across firms within sectors. In the first chapter, we examine how the introduction of a labor subsidy in the manufacturing sector affects manufacturing employment in a Ricardian trade model. Furthermore, the trade-off between subsidy distortions, dynamic productivity gains in the manufacturing sector and gains from trade are examined. We derive a critical labor subsidy. If a labor subsidy is larger than this critical subsidy, TFP growth in the manufacturing sector is higher than in the agricultural sector and the economy industrializes. Accelerated TFP growth can outweigh the welfare reducing distortions of labor subsidies in the long run. In the second chapter, we investigate the role of quality of traded goods. We analyze a U.S. import data set and show that firms within a sector may find it profitable to export different quality levels and the quality of exported goods is bimodally distributed within these sectors. We address these results by extending the standard heterogeneous firms trade model with endogenous intermediate input quality choice and assuming that there exists quality complementarity between a firm's capability and their choice of intermediate input quality. In the third chapter, we examine the interrelationship between patterns of trade and premature deindustrialization. We develop a multi-sector two-economy model that allows for inter- and intra- industry trade and find an additional channel through which a developing economy may deindustrialize. Manufacturing production requires intermediate inputs that must be imported from high-income economies. The foreign technology embodied in those inputs reduces the relative price of manufactured goods over services. This effect is independent of trade openness in the manufacturing sector. Summarizing, the thesis emphasizes the role of international trade on economic growth, structural composition, and firm selection and studies the consequences of their interdependence.

Essays on Structural Transformation in International Economics

Author : Radoslaw L. Stefanski
Publisher :
ISBN 13 :
Total Pages : 110 pages
Book Rating : 4.:/5 (746 download)

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Book Synopsis Essays on Structural Transformation in International Economics by : Radoslaw L. Stefanski

Download or read book Essays on Structural Transformation in International Economics written by Radoslaw L. Stefanski and published by . This book was released on 2009 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Trade, Development, and Political Economy in East Asia

Author : Prema-Chandra Athukorala
Publisher : Institute of Southeast Asian Studies
ISBN 13 : 981462005X
Total Pages : 306 pages
Book Rating : 4.8/5 (146 download)

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Book Synopsis Trade, Development, and Political Economy in East Asia by : Prema-Chandra Athukorala

Download or read book Trade, Development, and Political Economy in East Asia written by Prema-Chandra Athukorala and published by Institute of Southeast Asian Studies. This book was released on 2014-11-14 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume is a tribute to Professor Hal Hill, one of the most distinguished and internationally renowned Australian development economists and the single most important Australian figure in the networks that bind the Australian and Southeast Asian economics professions over the past four decades. The volume contains twelve original contributions by distinguished scholars who are at the forefront of their own subject areas. The contributions are thematically arranged into three parts to reflect Professor Hill’s wide-ranging research interests: trade policy issues central to the development policy debate, structural change and global economic integration in East Asian economies, and the political economy of development policy.

Essays in Development Economics

Author : Tongtong Hao
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (133 download)

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Book Synopsis Essays in Development Economics by : Tongtong Hao

Download or read book Essays in Development Economics written by Tongtong Hao and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the beginning of its economic reform in 1978, China's extraordinary economic growth has been accompanied by increased migration and rapid structural transformation - the reallocation of economic activity from agriculture to nonagriculture. This significant labor reallocation and migration stemmed from a series of institutional reforms and policies that significantly reduced labor market barriers. My thesis studies the impact of changes in labor market barriers during China's reform era. Chapter 1 constructs measures of sectoral reallocation and geographical relocation of labor at the provincial level for 1978-2015 resulting from a series of institutional reforms and policies that lowered labor market barriers. I find that the structural transformation process was uneven across provinces. Agriculture-to-nonagriculture worker reallocation began earlier and on a larger scale for coastal provinces. Since 1990, workers moving from inland agriculture to coastal nonagriculture became an important source of nonagricultural labor growth. Chapter 2 quantifies changes in barriers regarding sectoral reallocation and regional migration and studies their impact on China's economic growth over 1978-2015. I build a two-sector two-region general equilibrium model focusing on labor market barriers both between agricultural and nonagricultural sectors and across coastal and inland regions. I find that the 1982-2015 decline in labor market barriers contributed to an increase in output of 26.5% in 2015. Despite this, there remain considerable gains for future improvement. In particular, eliminating barriers from inland agriculture to coastal nonagriculture in 2015 could further increase output by 12%. Chapter 3 presents the joint work with Ruiqi Sun, Trevor Tombe, and Xiaodong Zhu. Expanding on Chapter 2, we explore the effect of changes in capital market and trade frictions in addition to labor market barriers on resource allocation. Employing a rich spatial general equilibrium model, we quantify the size and impact of migration barrier changes, capital barrier changes, and trade cost changes, to growth, regional income convergence, and structural change in China over 2000-2015. While each contributed meaningfully to growth, migration policy changes were central to China's structural change and regional income convergence.

China's Economic Modernisation And Structural Changes: Essays In Honour Of John Wong

Author : Zheng Yong-nian
Publisher : World Scientific
ISBN 13 : 9811203636
Total Pages : 360 pages
Book Rating : 4.8/5 (112 download)

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Book Synopsis China's Economic Modernisation And Structural Changes: Essays In Honour Of John Wong by : Zheng Yong-nian

Download or read book China's Economic Modernisation And Structural Changes: Essays In Honour Of John Wong written by Zheng Yong-nian and published by World Scientific. This book was released on 2019-03-05 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a timely update on the ongoing transformation of the Chinese economy. As the world's second largest economy, China marked the 40th anniversary of economic reform and opening-up in 2018. In this book, top scholars on Chinese economic studies review China's remarkable economic achievement in the past four decades and analyse the challenges facing economic development in the country.The book focusses on structural changes of China's economy, which are essential to steer the country towards sustainable development. It studies the long-term factors affecting the Chinese economy such as education and innovation, and emerging sources of economic growth, such as e-commerce. Other important aspects of the Chinese economy explored in this book include the economic role of the Chinese government, fiscal reforms, capital account liberalisation, housing policies, competition policy and anti-monopoly law, China's export, trends of regional development and reforms of state-owned enterprises.This rich collection of policy-oriented economic studies is also a tribute to Professor John Wong, former research director of the East Asian Institute, National University of Singapore, who passed away in June 2018. For over three decades, Professor Wong had followed and provided insightful analyses on China's economic development.

Economic Structure and Performance

Author : Moises Syrquin
Publisher :
ISBN 13 :
Total Pages : 624 pages
Book Rating : 4.:/5 (43 download)

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Book Synopsis Economic Structure and Performance by : Moises Syrquin

Download or read book Economic Structure and Performance written by Moises Syrquin and published by . This book was released on 1984 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Exploring Economic Growth

Author : Sakari Heikkinen
Publisher : Amsterdam University Press
ISBN 13 :
Total Pages : 396 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Exploring Economic Growth by : Sakari Heikkinen

Download or read book Exploring Economic Growth written by Sakari Heikkinen and published by Amsterdam University Press. This book was released on 2004 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: The quest for economic growth has been one of the great global issues since the Second World War. Indeed, economic growth has also been one of the great themes of the discipline of economic history. The processes and causes of "modern economic growth," using the title of Simon Kuznets' famous book, have puzzled economic historians for at least the last half a century--and they still do, as this collection of essays shows. Over the past 50 years, historical national accounting has become a major tool of economic historians for analyzing the process of economic growth overall. The construction and application of historical national accounts has been one of the most dynamic branches of economic history. This volume contains a series of articles by members of the international network that has, in the past quarter of a century, continued and elaborated upon the research program that emerged as a result of the ground breaking research by Clark. Kuznets, Solow, and Swan. In the 1980s the network became rather well organized--for example, as a result of the stimulating influence of Angus Maddison and his colleagues at Groningen University--which resulted in series of workshops and conferences, as well as sessions at several international economic history congresses (Milan, 1994; Madrid, 1998; Buenos Aires, 2002). The aim of this volume is to evaluate the current state of the field, present new findings and analytical tools, and to reevaluate the research agenda of the network.

Essays in Economic Growth and Development

Author : Zhen Zhu
Publisher :
ISBN 13 : 9781303219511
Total Pages : 188 pages
Book Rating : 4.2/5 (195 download)

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Book Synopsis Essays in Economic Growth and Development by : Zhen Zhu

Download or read book Essays in Economic Growth and Development written by Zhen Zhu and published by . This book was released on 2013 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three chapters exploring the Solow Residual of the Solow growth model. Two central components of the Solow Residual have been studied in my doctoral dissertation. The first is the structural transformation, an internal adjustment process that helps the economy attain the optimal points on its Production Possibility Frontier by reallocating resources from the low-productivity sectors to the high-productivity sectors. The second is the technology diffusion, a positive externality process that pushes forward the economy's Production Possibility Frontier if it adopts the newer technology. The first chapter of my dissertation is devoted to a case study of China's structural transformation. As one of the fastest growing economies in the world, China has observed dramatic reallocation of resources from the agricultural sector to the nonagricultural sector over the last three decades. This chapter proposes a two-sector growth model and identifies three driving forces for China's structural transformation. Most importantly, the migration costs can be shown as a significant barrier to the reallocation process after I calibrate the model with real data. The second and the third chapters of my dissertation are devoted to the study of the technology diffusion. The second chapter is a collaborative effort with Gary Ferrier and Javier Reyes. We approach the cross-country technology diffusion from a novel perspective -- the trade network can be viewed as the conduit of the technology diffusion. The question we ask is whether the trade network structure matters in the technology diffusion process. We consider 24 major technologies over the period from 1962 to 2000 and find that, in most cases, there is strong and robust evidence to suggest that the better-connected countries on the trade network tend to adopt or assimilate newer and more advanced technologies faster. However, the better-connected countries tend to have lower technology intensity if the technology has become obsolete. Finally, the third chapter is a theoretical approach to the technology diffusion. In particular, the technology diffusion across countries can be generalized as a learning process on networks. Based on a stylized learning model, this chapter examines the impact of the network structures on the speed of the diffusion process.