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Many authors have estimated and found that the productivity growth in agriculture was higher than that in non-agriculture … in today’s richest countries. Several papers suggested that growth in agricultural productivity was essential for today …’s richest countries to take off early. However, few articles noticed that growth in agricultural productivity is critical in …
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The Real Business Cycle (RBC) models a neoclassical system impacted by random changes on Total Factor Productivity (TFP …
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This paper studies China's four-fold increase in per capita GDP relative to the U.S. between 1995 and 2019. First, we argue that China's growth pattern is very similar to that of several other East Asia economies that initially grew very quickly. Second, we show that a minimalist...
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The paper develops a two-sector model of economic growth, using agriculture and industry. The distinguishing feature in … analyse the complementary interactions between agriculture and industry through trade flows, labour movements, and land …
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