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Structural Changes and Structural Transformation in a Modern Development Economy

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  • Marjanović Vladislav

    (University of Niš, Faculty of Economic, Serbia)

Abstract

The concepts of structure and structural changes can be applied in many different ways. Relatedly, the roughest distinction is reflected in two approaches: development economics approach and econometric approach. This paper will rely on the development economics, because it seems that the econometric approach oversimplifies the structural analysis and structural changes. Development economics, which evolved through the interaction between theoretical research and empirical studies, deals with many issues related to structure and growth in less developed (developing) countries. In development economics, the economic structure analysis is observed mostly through micro and macro approach. The paper relies on a macroeconomic approach which views the economic development as a set of interrelated long-term processes of structural transformation accompanying the growth.Unlike the neoclassical approach, which makes a simple distinction of the economy to sectors producing tradable goods (with a high substitution) and sectors producing non-tradable goods, development economics studies structural adjustments of much serious complexity. Unlike other branches of economy, development economics has no universally accepted doctrine or paradigm. Instead, it is based on continuous evaluation of thinking, creating a ground for understanding the processes of modern economic development.

Suggested Citation

  • Marjanović Vladislav, 2015. "Structural Changes and Structural Transformation in a Modern Development Economy," Economic Themes, Sciendo, vol. 53(1), pages 63-82, March.
    • Handle: RePEc:vrs:ecothe:v:53:y:2015:i:1:p:63-82:n:5
    DOI: 10.1515/ethemes-2015-0005
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    References listed on IDEAS

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    1. Simon Kuznets, 1959. "On Comparative Study of Economic Structure and Growth of Nations," NBER Chapters, in: The Comparative Study of Economic Growth and Structure, pages 162-176, National Bureau of Economic Research, Inc.
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    Cited by:

    1. E.G. Russkova & I.V. Mitrofanova & O.Yu. Vatyukova & N.P. Ivanov & V.V. Batmanova, 2017. "Structural Changes In The Gdp Of Russia In 1995-2015: Sectoral Approach," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 17(1), pages 39-52.

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