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Sectoral Engines of Growth in Developing Asia: Stylized Facts and Implications

Author

Listed:
  • Felipe, Jesus

    (Asian Development Bank)

  • Leon-Ledesma, Miguel

    (University of Kent)

  • Lanzafame, Matteo

    (University of Messina)

  • Estrada, Gemma

    (Asian Development Bank)

Abstract

This paper provides an analysis of developing Asia's growth experience from the point of view of its structural transformation during the last 3 decades. The most salient feature of this transformation has been the significant decrease in the share of agriculture and the parallel increase in the share of services. The analysis uses Kaldor's framework to discuss whether industry plays the role of engine of growth in developing Asia. The empirical results show first, that both industry and services play such a role; and second, there is evidence of endogenous, growth-induced technological progress. Likewise, the technology gap approach supports the view that technological spillovers have fostered growth in developing Asia.

Suggested Citation

  • Felipe, Jesus & Leon-Ledesma, Miguel & Lanzafame, Matteo & Estrada, Gemma, 2007. "Sectoral Engines of Growth in Developing Asia: Stylized Facts and Implications," ADB Economics Working Paper Series 107, Asian Development Bank.
    • Handle: RePEc:ris:adbewp:0107
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    More about this item

    Keywords

    developing Asia; economic growth; industry; structural transformation; technological progress;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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