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Structural Change, Accumulation and Growth in Developing Economies

Author

Listed:
  • Landon-Lane, John S

    (Rutgers University)

  • Peter E. Robertston

Abstract

Historically, episodes of rapid growth are accompanied by significant structural change. In this paper we therefore aim to quantify the extent to which factor accumulation induces structural change and productivity growth in industrializing economies. We present an extension of a standard growth model that incorporates two sectors, traditional and modern, and an endogenous wage gap, due to efficiency wages. We quantify the model using a panel of 78 countries over the post war era. The results show that these labour reallocation effects are significant and can increase the effective return to physical capital by around 30% in many countries.

Suggested Citation

  • Landon-Lane, John S & Peter E. Robertston, 2003. "Structural Change, Accumulation and Growth in Developing Economies," Royal Economic Society Annual Conference 2003 129, Royal Economic Society.
    • Handle: RePEc:ecj:ac2003:129
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    Cited by:

    1. Farzaneh KHALILI & Majid AFSHARIRAD & Abdolrahim HASHEMI DIZAJ & Mehdi YAZDANSHENAS BAHOGHOGH, 2021. "Spatial Linkage Between Quality Of Institution, Natural Resources Management With Gdp Per Capita In D8 Countries (Durbin Model In Panel Data)," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(2), pages 239-256, June.

    More about this item

    Keywords

    growth; development; endogenous growth; dual economy; convergence;
    All these keywords.

    JEL classification:

    • O0 - Economic Development, Innovation, Technological Change, and Growth - - General
    • 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

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