Journal ArticleDOI
Unconditional Convergence in Manufacturing
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TLDR
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.Abstract:
Unlike economies as a whole, manufacturing industries exhibit strong unconditional convergence in labor productivity. The article documents this at various levels of disaggregation for a large sample covering more than 100 countries over recent decades. The result is highly robust to changes in the sample and specification. The coefficient of unconditional convergence is estimated quite precisely and is large, at between 2–3% in most specifications and 2.9% a year in the baseline specification covering 118 countries. The article also finds substantial sigma convergence at the two-digit level for a smaller sample of countries. Despite strong convergence within manufacturing, aggregate convergence fails due to the small share of manufacturing employment in low-income countries and the slow pace of industrialization. Because of data coverage, these findings should be as viewed as applying to the organized, formal parts of manufacturing.read more
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Heterogeneous Paths of Industrialization
TL;DR: This article used a Benchmark model of structural change to shed light on the sources of industrialization heterogeneity and the phenomenon of premature deindustrialization, and found that differences in the rate of agricultural productivity growth across economies can account for a large share of the variation in peak manufacturing employment shares.
Journal ArticleDOI
Manufacturing in India and Indonesia: performance and policies
TL;DR: In this article, the authors argue that a comparative approach to the issues that both countries face can yield interesting insights and provide potential solutions to their development challenges, as reflected in their emerging policy priorities.
Journal ArticleDOI
Revisiting the commodity curse: A financial perspective ☆
TL;DR: In this article, the authors study the response of a three-sector commodity-exporter small open economy to a commodity price boom and suggest that capital account management policies could be welfare improving in those circumstances.
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Rethinking Development Policy: Deindustrialization, Servicification and Structural Transformation
TL;DR: In this article, the authors take a fresh look at the current theories of structural transformation and the role of private and public fundamentals in the process, and summarize 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 transformations.
References
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Journal ArticleDOI
Convergence across States and Regions
TL;DR: In this paper, the authors use the neoclassical growth model as a framework to study convergence across the forty-eight contiguous U.S. states using data on personal income since 1840 and on gross state product since 1963.
Posted Content
Productivity Growth, Convergence and Welfare: What the Long Run Data Show
TL;DR: Maddison's 1870-1979 data are analyzed, showing the historically unprecedented growth in productivity, GDP per capita and exports and the remarkable convergence of productivities of industrialized market economies, with convergence apparently shared by planned economies but not less developed countries as discussed by the authors.
Book
Handbook of Economic Growth
TL;DR: The Handbook of Economic Growth as discussed by the authors summarizes recent advances in theoretical and empirical work while offering new perspectives on a range of growth mechanisms, from the roles played by institutions and organizations to the ways factors beyond capital accumulation and technological change can affect growth.
Posted Content
Productivity Growth, Convergence, and Welfare: What the Long-Run Data Show
TL;DR: Maddison's 1870-1979 data are analyzed, showing the historically unprecedented growth in productivity, gross domestic product per capita and exports and the remarkable convergence of productivities of industrialized market economies, with convergence apparently shared by planned economies but not less developed countries.