ECONOMIC DEVELOPMENT, STRUCTURAL CHANGE AND NATURAL RESOURCE BOOMS: A STRUCTURALIST PERSPECTIVE
In this paper we present a structuralist two-sector model on economic development, structural change and natural resource booms. We describe a multiple equilibria scenario, in which manufacturing development is the main source of economic progress. Natural resource booms, by modifying the productive structure of the economy, may set destabilizing forces. De-industrialization processes may take place, confining developing countries in poverty traps. Public intervention in the economic sphere, both through short-run macro policies and through long-run development strategies, may help to free the economy from poverty traps and to foster the development process. Copyright © 2009 The Author. Journal compilation © 2009 Blackwell Publishing Ltd.
Year of publication: |
2010
|
---|---|
Authors: | Botta, Alberto |
Published in: |
Metroeconomica. - Wiley Blackwell, ISSN 0026-1386. - Vol. 61.2010, 3, p. 510-539
|
Publisher: |
Wiley Blackwell |
Saved in:
freely available
Saved in favorites
Similar items by person
-
Structural change, economic growth and natural resource booms: A structuralist perspective
Botta, Alberto, (2008)
-
A structuralist Kaldor-Thirlwall model of structural change and economic development
Botta, Alberto, (2007)
-
The macroeconomics of a financial Dutch disease
Botta, Alberto, (2015)
- More ...