Globalization, structural change and productivity growth
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TLDR
One of the earliest and most central insights of the literature on economic development is that development entails structural change as mentioned in this paper, and that countries that manage to pull themselves out of poverty and get richer are those that are able to diversify away from agriculture and other traditional products.Abstract:
One of the earliest and most central insights of the literature on economic development is that development entails structural change. The countries that manage to pull themselves out of poverty and get richer are those that are able to diversify away from agriculture and other traditional products. As labour and other resources move from agriculture into modern economic activities, overall productivity rises and incomes expand. The speed with which this structural transformation takes place is the key factor that differentiates successful countries from unsuccessful ones.read more
Citations
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Economic growth and income inequality
Michael Bleaney,Akira Nishiyama +1 more
TL;DR: This article investigated whether income inequality affects subsequent growth in a cross-country sample for 1965-90, using the models of Barro (1997), Bleaney and Nishiyama (2002) and Sachs and Warner (1997) with negative results.
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Unconditional Convergence in Manufacturing
TL;DR: The authors found that manufacturing industries exhibit strong unconditional convergence in labor productivity and showed that despite strong convergence within manufacturing, aggregate convergence fails due to the small share of manufacturing employment in low-income countries and slow pace of industrialization.
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Globalization, Structural Change, and Productivity Growth, with an Update on Africa
TL;DR: In this article, the authors document the large gaps in labor productivity between the traditional and modern parts of the economy and emphasize that labor flows from low-productivity activities to high-Productivity activities are a key driver of development.
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Urbanization with and without industrialization
TL;DR: In this article, a strong positive relationship between natural resource exports and urbanization in a sample of 116 developing nations over the period 1960-2010 was found. But, although the development literature often assumes that urbanization is synonymous with industrialization, patterns differ markedly across developing countries.
References
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Economic growth and income inequality
Michael Bleaney,Akira Nishiyama +1 more
TL;DR: This article investigated whether income inequality affects subsequent growth in a cross-country sample for 1965-90, using the models of Barro (1997), Bleaney and Nishiyama (2002) and Sachs and Warner (1997) with negative results.
Journal ArticleDOI
The Real Exchange Rate and Economic Growth
TL;DR: In this article, the authors show that undervaluation of the currency (a high real exchange rate) stimulates economic growth, particularly for developing countries, and they present two categories of explanations for why this may be so, the first focusing on institutional weaknesses, and the second on product market failures.
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Cross-Country Differences in Productivity: The Role of Allocation and Selection
TL;DR: In this paper, the effect of idiosyncratic (firm-level vel) policy distortions on aggregate outcomes is investigated, and it is shown that there is substantial and systematic cross-country variation in the within-industry covariance between size and productivity.
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Misallocation and Manufacturing TFP in China and India
TL;DR: This paper used micro data on manufacturing establishments to quantify the potential extent of misallocation in China and India compared to the U.S. They measured sizable gaps in marginal products of labor and capital across plants within narrowly-defined industries in both countries.