A structuralist North-South model on structural change, economic growth and catching-up
This paper presents a structuralist North-South model on structural change, industrialization and economic convergence. In a balance-of-payments-constrained macro-setting, we assume a cumulative process between industrialization and growth. Differently from the traditional post-Keynesian models, we endogenize the productive structure of developing countries. We enquire how industrialization affects uneven development and convergence processes. Multiple growth paths and a long-run path-dependent equilibrium emerge. Industrialization proves to be a necessary but not sufficient condition for catching-up. Good management by the domestic institutions of domestic industrialization is a complementary requirement.
Year of publication: |
2009
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Authors: | Botta, Alberto |
Published in: |
Structural Change and Economic Dynamics. - Elsevier, ISSN 0954-349X. - Vol. 20.2009, 1, p. 61-73
|
Publisher: |
Elsevier |
Keywords: | Structural change Kaldorian cumulative causation North-South convergence |
Saved in:
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