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Growth, Trade, and Deindustrialization

Author

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  • Robert Rowthorn

    (International Monetary Fund)

  • Ramana Ramaswamy

    (International Monetary Fund)

Abstract

This paper shows that deindustrialization is explained primarily by developments that are internal to the advanced economies. These include the combined effects on manufacturing employment of a relatively faster growth of productivity in manufacturing, the associated relative price changes, and shifts in the structure of demand between manufactures and services. North-south trade explains less than one-fifth of deindustrialization in the advanced economies. Moreover, the contribution of north-south trade to deindustrialization has been mainly through its effects in stimulating labor productivity in northern manufacturing; it has had little enduring effect on the total volume of manufacturing output in the advanced economies. Copyright 1999, International Monetary Fund

Suggested Citation

  • Robert Rowthorn & Ramana Ramaswamy, 1999. "Growth, Trade, and Deindustrialization," IMF Staff Papers, Palgrave Macmillan, vol. 46(1), pages 1-2.
    • Handle: RePEc:pal:imfstp:v:46:y:1999:i:1:p:2
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    More about this item

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • F1 - International Economics - - Trade
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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