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Country Growth Patterns: How Do Industrial and Emerging Market Nations Differ?

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  • Batavia, Bala
  • Nandakumar, Parameswar

Abstract

Some well-known two-sector models of industrial countries exhibit a crowding out effect between the main sectors of the economy. This is true of the Small Open Economy, traded-non-traded good model without nominal wage rigidity, and for the model of the Dutch Disease. In contrast, important models of semi-industrialized countries, or even emerging markets, such as the Bose Model, portray a complementary relation between the various sectors. This paper discusses a possible synthesis between these differing model specifications, and tests the applicability of these models for a large sample of industrial countries, emerging markets and developing economies by analyzing the inter-linkages in their sector growth patterns.

Suggested Citation

  • Batavia, Bala & Nandakumar, Parameswar, 2011. "Country Growth Patterns: How Do Industrial and Emerging Market Nations Differ?," The Journal of Economic Asymmetries, Elsevier, vol. 8(2), pages 61-72.
    • Handle: RePEc:eee:joecas:v:8:y:2011:i:2:p:61-72
    DOI: 10.1016/j.jeca.2011.02.006
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    References listed on IDEAS

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    1. Lars Calmfors & Giancarlo Corsetti & Seppo Honkapohja & John Kay & Gilles Saint-Paul & Hans-Werner Sinn & Jan-Egbert Sturm & Xavier Vives, 2006. "Chapter 3: Economic Growth in the European Union," EEAG Report on the European Economy, CESifo, vol. 0, pages 68-88, March.
    2. Seppo Honkapohja & Frank Westermann, 2009. "Economic Growth in the European Union," Palgrave Macmillan Books, in: Seppo Honkapohja & Frank Westermann (ed.), Designing the European Model, chapter 8, pages 259-295, Palgrave Macmillan.
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    More about this item

    Keywords

    Open economy models; Dutch disease; Emerging markets; Sectoral growth patterns;
    All these keywords.

    JEL classification:

    • O - Economic Development, Innovation, Technological Change, and Growth
    • O - Economic Development, Innovation, Technological Change, and Growth
    • F - International Economics

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