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Author: Célestin Monga Publisher: Oxford University Press ISBN: 0192512684 Category : Business & Economics Languages : en Pages : 608
Book Description
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.
Author: Célestin Monga Publisher: Oxford University Press ISBN: 0192512684 Category : Business & Economics Languages : en Pages : 608
Book Description
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.
Author: Nicholas Olwor Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Structural Change is seen by development economics theorists as a driver of sustained and sustainable growth. African countries that have understood this prioritize structural change policies in their national development programs in order to reduce poverty and promote employment through commodity-based industrialization. How does infrastructure contribute to this process? Infrastructure is core to the growth process in different regions across the globe.Infrastructure is crucial to a country's growth process by initiating the process of industrialization. In the last two decades, the EAC Partner States, Uganda inclusive have devoted more resources towards infrastructure development, however, growth remains low and below the 10 % targeted in Uganda in Vision 2040.The purpose of this study is to highlight and explore what is understood and not understood about the linkage between infrastructure and economic growth and implications on growth of the Ugandan economy. The importance of these infrastructures toward economic growth is observed through availing employment opportunities to people carrying out the activity of construction and maintenance and manufacturing. Also improved infrastructure greatly improves accessibility as well as linking up markets. This is motivated in a way that factors of production are easily moved from one location to another and across borders, consequently improving the country's competitivenessThe study looked at the effects of big push infrastructure investments on structural transformation and economic development in the context of Uganda over the period 2015 to 2021. Uganda represents a recent, prime example of rapid infrastructure expansions that, given their large scale and extent, appear worthy of designation as big push investments. Uganda provides almost ideal study setting for several reasons: first, the country experienced large scale investment in two separate kinds of infrastructure, namely all-weather roads and electricity network. Exploiting differences in the sequencing of these two infrastructure expansions allowed me to study both the individual effect (of roads) and the interaction effects (of roads and electricity).The study empirically estimated a production function linking economic growth to infrastructure stock, labor and non-infrastructure capital as inputs. The analysis was based on the PMG estimator to address any heterogeneity issues that could arise. The results reveal the existence of a long term equilibrium relationship between economic growth, infrastructure, capital and labor force, hence, the choice of PMG estimator. Specifically, the results demonstrate that infrastructure development has a positive effect on growth of Uganda during the 2015-2021. However, the results show that the impact of infrastructure stock on growth is evident in the long term but not in the short term. This is because the benefits of infrastructure development take time to be realized. For the regions in Uganda, this is realized after about 2 years with an output elasticity of infrastructure stock of 0.20.Estimates from the augmented production function show that capital stock positively affects real GDP per capita in the long term. It was estimated that output elasticity of capital stock was 0.24, clearly demonstrating the important role of capital accumulation in the growth process. The short run effect of capital stock was positive but not realistically significant, implying that capital accumulation takes time and most of the capital investments have long gestation periods, hence, little effect on growth in the short run.The results also confirmed that labor force is among key factors to Uganda's growth. There was a positive link between labor force and economic growth both in the short run and long run. The output elasticity of labor was estimated at 0.60 in the long run. This is because Uganda is still developing and rely mainly on labor intensive techniques of production and therefore labor forms an important input in the production process.A uni-directional causality exists between infrastructure stock and growth in Uganda. This implies that accumulation of infrastructure explains growth in Uganda but not vice versa. Theoretically, this is justifiable as infrastructure stock (transport, energy and communication infrastructure) are considered as basic inputs in the production process. Consequently, building more roads, construction of railway lines, increasing the installed capacity of electricity generation and more communication infrastructure are expected to promote economic growth in Uganda. The results are in line with a previous study by Sahoo et al. (2010).The study confirms a positive contribution of infrastructure stocks to economic growth using PMG estimation technique. However, in the short run, infrastructure development does not significantly influence Uganda's growth. Significant effect on growth is only experienced in the long term. Therefore, from the findings of this study, a long run relationship exists between infrastructure stock and economic growth in Uganda.
Author: Justin Yifu Lin Publisher: World Bank Publications ISBN: 0821389556 Category : Business & Economics Languages : en Pages : 389
Book Description
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.
Author: M.L. Lakhera Publisher: Palgrave Macmillan ISBN: 9781349559220 Category : Business & Economics Languages : en Pages : 263
Book Description
Economic growth across countries during the last 30 years or so has displayed 'dual' divergence between developed and developing countries, and among developing countries. The structural transformation has been either slow or of an anomalous nature. The study addresses these and suggests how they can catch-up with developed world.
Author: Manoj Atolia Publisher: International Monetary Fund ISBN: 1484377494 Category : Business & Economics Languages : en Pages : 49
Book Description
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.
Author: M.L. Lakhera Publisher: Springer ISBN: 1137538074 Category : Business & Economics Languages : en Pages : 282
Book Description
Economic growth across countries during the last 30 years or so has displayed 'dual' divergence between developed and developing countries, and among developing countries. The structural transformation has been either slow or of an anomalous nature. The study addresses these and suggests how they can catch-up with developed world.
Author: John Page Publisher: Oxford University Press ISBN: 0198851170 Category : Business & Economics Languages : en Pages : 513
Book Description
For a growing number of countries in Africa the discovery and exploitation of natural resources is a great opportunity, but one accompanied by considerable risks. This book presents research on how to better manage the revenues and opportunities associated with natural resources.
Author: Antonio Andreoni Publisher: Oxford University Press ISBN: 0192894315 Category : Business & Economics Languages : en Pages : 411
Book Description
Taking South Africa as an important case study of the challenges of structural transformation, the book offers a new micro-meso level framework and evidence linking country-specific and global dynamics of change, with a focus on the current challenges and opportunities faced by middle-income countries.
Author: Martin Andersson Publisher: Oxford University Press ISBN: 0198737408 Category : Business & Economics Languages : en Pages : 301
Book Description
The book discusses different possibilities for, and obstacles to, economic development in lower income countries in Asia, Latin America, and Sub-Saharan Africa. It asks what lessons can be learned from previous success cases and assesses whether the growth of developing countries over the last decades can be sustained. It pays attention to actual processes of development over the long-term to shed light on prospects for global development today.
Author: Célestin Monga
Author: Célestin Monga
Author: Nicholas Olwor
Author: Justin Yifu Lin
Author: McMillan, Margaret 
Author: M.L. Lakhera
Author: Manoj Atolia
Author: M.L. Lakhera
Author: John Page
Author: Antonio Andreoni
Author: Martin Andersson